MUMBAI: W. Chan Kim is The Boston Consulting Group Bruce D. Henderson, chair professor of Strategy and International Management at INSEAD, France, and co-creator of the inner bestsellers Blue Ocean Strategy and Blue Ocean Shift. In an interview, he discusses how deciding on the right out-of-the-field strategy holds the key to destiny growth and survival for groups across the globe. He spoke to Mint in a current go to India. Edited excerpts:
Let me start with the motivation of the original book. When you study the records of industrial evolution all the manner up, you will understand that someone creates a hit business model; it’s far imitated continuously by others, which in flip brings competition. Accordingly, the first ebook divides organizations into two categories. First, the “Red Ocean” groups and companies perform in defined obstacles and are centered on beating the competition in an exceptionally aggressive surrounding. The other category is of “Blue Ocean” groups focused on creating new opportunities and markets for the increase. In my opinion, the corporate approach has been focused on competing and not starting for the longest time. There become no systematic framework, no described questioning manner, and no critical method.
Blue Ocean Strategy changed into written in 2005 at the common strategy of creating a new global of possibility. The second ebook evaluates whether the Blue Ocean Strategy is relevant to all classes of businesses, sectors, governments, and people. For that, we had to observe a broader set of enterprise individuals to apprehend whether or not it’s far generalizable. Also, we wanted to peer whether or not agencies have used the Blue Ocean Strategy and whether or not they became a failure or achievement. In the technique, we wanted to finish if there can be predictability around corporations that applied it. It took us ten years to apprehend and gather empirical records.