1984 -> CIRQUE DU SOLEIL, in a long term declining Circus Market, moved its show closer to the "Theatre" style (also removing certain costly animals and star performers), attracting an audience capable of purchasing premium tickets. Align the whole system of a firm's activities in pursuit of differentiation and low costĮxample of a company who made a move into a "Blue Ocean": Align the who system of a firm’s activities with its strategic choice of differentiation or low cost
More information on the framework by it's creators can be found here: The book shares a number of frameworks and tools to help an organization create and re-position itself (or its business units), in "Blue Oceans", or unexplored markets (vs Red Oceans - where competition is intense). According to their study of more than 30 industries, companies who successfully implement a Blue Ocean Strategy, and alter their strategic course past traditional industry boundaries, reap the benefits for 10 to 15 years.
A sequel to the book was published in 2017 - " Blue Ocean Shift". The book advocates a Marketing Theory in which organizations should make strategic leaps in new uncontested market spaces to create shareholder value. Renée Mauborgne ( INSEAD, Fontainebleau, France), published a book called " Blue Ocean Strategy: How To Create Uncontested Market Space And Make The Competition Irrelevant" (available on Amazon here: ). chan kim insead business strategy organizational strategy differentiation
International financial reporting standards (ifrs).
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