Chan Kim & Renée Mauborgne – Blue Ocean Practical Strategy

Blue Ocean Practical Strategy is a proven framework to take your business from struggling and barely surviving to thriving.

What You’ll Learn In Blue Ocean Practical Strategy

Module 1: Blue Ocean Creativity

In this module:

• We’ll introduce you to blue ocean creativity, a systematic process of new market creation.
• Find out whether you are on track to a blue ocean or if you are sinking in bloody red ocean.

Module 2: Shifting to a Blue Ocean Perspective

In this module:

• You will learn the fundamental differences between red ocean and blue ocean strategy.
• You will understand how shifting your focus from existing customers and existing industries towards noncustomers and new demand will start you on the path to creating new market space that will make the competition irrelevant.

Module 3: Visualizing Your Strategic Reality

In this module:

• You will learn the concept behind, and the power of, the as-is strategy canvas, one of the key tools of blue ocean strategy.
• It will give you an overview of the current state of play in your target industry and show you in a simple picture the assumptions the industry acts on that you can later overturn and the degree of competitive convergence across existing players.
• You’ll have a baseline to assess new ideas against.

Module 4: Discovering Hidden Pain Points

In this module:

• You’ll focus on the buyer utility map, a blue ocean tool to identify the specific pain points buyers face and identify concrete solutions that remove these blocks to utility.
• You’ll see how the buyer utility map can help you unlock hidden value to create new demand.

Module 5: Looking Beyond Existing Demand

In this module:

• You’ll explore the concept behind the three tiers of noncustomers.
• By understanding the three tiers, you will gain insight into how to identify real opportunities and unlock new demand by identifying both who fall in each tier and the commonalities within and across the tiers.

Modules 6: Reconstructing Market Boundaries – Part I

In this module:

• You’ll learn about the six paths framework, a powerful tool that anyone can apply to reconstruct market boundaries and re-examine the familiar from a new perspective.
• You’ll discover how to distill key insights for creating blue oceans by applying the first two paths of the framework.
• You’ll achieve this by looking across industries (path one) and looking across strategic groups (path two).

Module 7: Reconstructing Market Boundaries – Part II

In this module:

• You’ll learn more about the six paths framework and how to shift your perspective to look across boundaries.
• Here we’ll explore the remaining paths that you can apply to systematically reconstruct market boundaries.

Module 8: Developing Alternative Blue Ocean Moves

In this module:

• You’ll learn how you can simultaneously create a leap in value for buyers while keeping costs low in building your blue ocean move.
• You’ll be introduced to the cornerstone of blue ocean strategy – what we call value innovation.
• To achieve this, we’ll introduce you to two powerful tools – the four actions framework and its companion, the eliminate-reduce-raise-create (ERRC) grid.

Module 9: Communicating Your Blue Ocean Move

In this module:

• You’ll gain insight into successful strategy formulation and execution.
• You’ll learn how to use the to-be strategy canvas to effectively communicate and secure group buy-in during strategy formulation and execution.

Module 10: Make Your Blue Ocean Move

In this module:

• You’ll get a summary of everything you’ve learned on the course.

Meet Chan Kim and Renée Mauborgne

#1 Management Thinkers in the World

Chan Kim and Renée Mauborgne are the creators of blue ocean. They are Professors of Strategy at INSEAD, one of the world’s top business schools and co-directors of the INSEAD Blue Ocean Strategy Institute.

In 2019, they were ranked the #1 Management Thinkers in the World by Thinkers50.

Readmore about: Chan Kim & Renée Mauborgne