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Unformatted text preview: Business Stratesies Masazine:: Book Revtew Page 1 of2 Book Review May, 2006 From Our Internataonal Business Issue Blue Ocean Strategy by W, Chan Kim and Renee Mauborgne If it is true that "the world is flat," how does one make impact or gain market share? This was the central question in my mind as I looked for the most appropriate book to review for this issue of Business Strategies Magazine. This central question leads me to Blue Ocean Strategy by W. Chan Kim and Renee Mauborqne. H e r e a r e s o m e s i m p l e d e f i n i t i o n s : ' Red oceans represent all industries in existence today market s p a c e . ' Blue oceans represent all industries not in existence today u n k n o w n m a r k e t s p a c e , There are two ways to create blue oceans. One is to create new i n d u s t r i e s a l l t o g e t h e r , s u c h a s e B a y o r G o o g l e . T h e m o r e c o m m o n way is to create new applications and redefine the value proposition w i t h i n a n a l r e a d y e x i s t i n g r e d o c e a n . Many businesses today are practicing reverse auctions, creating ways to support internal efficiencies to maximize net revenue, and keeping a keen eye on the market penetration of competition.keeping a keen eye on the market penetration of competition....
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