Companies have traditionally pursued success by seeking to be better, or cheaper, than their direct competition. But in an era of globalization, this often results in low margins and poor long-term growth. Blue Ocean Strategy is a strategic analysis method that helps you break free of this endless cycle of competition.
Developed by professors at INSEAD, Blue Ocean Strategy provides frameworks and tools to help companies identify “blue oceans” of market space, creating demand for entirely new products.
We are not competing against Sony or Microsoft. We are battling the indifference of people who have no interest in video games.
Satoru Iwata, Nintendo President and CEO
Strategic Research is a recognized expert in Blue Ocean Strategy.
How Blue Ocean Strategy works
Blue Ocean Strategy is based on a collaborative approach between an internal, multi-disciplinary team, and our consultants. The project team, sponsored by the Executive Board, works to a short timeframe – typically a few weeks. They explore the existing market, identify alternatives, generate ideas by following pre-identified paths, assess these ideas and develop the most interesting ideas further.
This intensive research phase is supported by a set of powerful tools. These include:
- the Strategy Canvas, to analyze the strategic positioning of the current offer
- the Six Paths, an efficient way to identify new directions for the brand
- the PMS (Pioneer-Migrator-Settler) map to rank ideas according to their ability to create or redefine new market boundaries.
The growth platforms that emerge from this collaborative process are presented to management, who then decides how each should be developed.
We have worked with some of the world’s leading brands using the Blue Ocean Strategy approach. The impact is game-changing: revolutionary products, significant growth, and an entirely fresh way of looking at the market.
A 2-minute animation on Blue Ocean Strategy, by Harvard Business Review.
Renee Mauborgne, co-founder of the Blue Ocean Strategy, explains in a 6 minutes intervention, what are the main differences between red and blue ocean strategies.