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Bos-Dictionary - Blue Ocean Strategy Dictionary Blue Ocean...

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Blue Ocean Strategy Dictionary
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Blue Ocean Strategy Dictionary © 2008 Kim & Mauborgne. All Rights Reserved. 2 DEFINITIONS Adoption Hurdle Alternative Industries Angels Atomization Blue Ocean Idea (BOI) Index Blue Oceans Blue Ocean Strategy (BOS) Buyers Buyer Utility Map Chain of Buyers Cognitive Hurdle Cold Spots Commonalities Complementary Products and Services Consigliere Devils Divergence Eliminate-Reduce-Raise-Create Grid (ERRC Grid) Emotional Appeal to Buyers Engagement Expectation Clarity Explanation Fair Process Fishbowl Management Focus Four Actions Framework Functional Appeal to Buyers Horse Trading Hot Spots Kingpins Migrators Motivation Hurdle Noncustomers Pioneer-Migrator-Settler (PMS) Map Pioneers A B C D E F H K M N P ........................................................................................................................... 4 ................................................................................................................... 4 ......................................................................................................................................... 4 .................................................................................................................................. 4 ....................................................................................................... 5 ................................................................................................................................ 5 ........................................................................................................ 5 .......................................................................................................................................... 6 .......................................................................................................................... 6 ........................................................................................................................... 7 .......................................................................................................................... 7 ................................................................................................................................... 7 ............................................................................................................................. 7 ...................................................................................... 7 ................................................................................................................................... 8 ........................................................................................................................................... 8 ................................................................................................................................... 8 ...................................................................... 9 .......................................................................................................... 9 ................................................................................................................................. 9 ..................................................................................................................... 10 ................................................................................................................................. 10 ............................................................................................................................... 10 ............................................................................................................... 11 ......................................................................................................................................... 11 ............................................................................................................ 11 ...................................................................................................... 11 ............................................................................................................................ 12 ................................................................................................................................... 12 ..................................................................................................................................... 12 .................................................................................................................................... 12 ....................................................................................................................... 12 ............................................................................................................................ 13 ......................................................................................... 13 .................................................................................................................................... 14
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Blue Ocean Strategy Dictionary © 2008 Kim & Mauborgne. All Rights Reserved. 3 DEFINITIONS Political Hurdle Price Corridor of the Mass Principles of Blue Ocean Strategy Reconstructionist View Red Oceans Resource Hurdle Settlers Six Paths Framework Strategic Groups within Industries Strategic Move Strategic Pricing Strategic Profile Strategy Canvas Substitutes Tagline Target Costing Time, Look Across Tipping Point Leadership Unit of Analysis Value-cost Trade-off Value Curve Value Innovation Visual Awakening / Exploration / Strategy Fair / Communication P R S T U V ............................................................................................................................ 14 .......................................................................................................... 14 ............................................................................................. 15 .............................................................................................................. 16 ................................................................................................................................ 16 ....................................................................................................................... 16 ....................................................................................................................................... 17 ................................................................................................................. 17 .............................................................................................. 17 ........................................................................................................................... 17 ......................................................................................................................... 17 ......................................................................................................................... 18 ........................................................................................................................ 18 ................................................................................................................................. 18 ....................................................................................................................................... 18 ............................................................................................................................ 18 ...................................................................................................................... 19 ........................................................................................................... 19 ......................................................................................................................... 19 ................................................................................................................... 20 ............................................................................................................................... 20 ........................................................................................................................ 20 .............................................. 20
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Blue Ocean Strategy Dictionary © 2008 Kim & Mauborgne. All Rights Reserved. Adoption Hurdles are the forces that can block one from executing a Blue Ocean Strategy. These forces may come from employees, business partners, or even the general public. Employees may fear how a new strategy will impact their current responsibilities within the company. Business partners may fear being cut out or losing importance in the new strategy. The general public may see the new strategy or offering as challenging established social or political norms. As the participation of these three parties is vital to the successful execution of a Blue Ocean Strategy, a company must address these fears before implementing a new strategy. This can be done by engaging in open discussion with them, explaining why the new business idea is needed, and how it will be implemented. See Tipping Point Leadership . Alternative Industries reflect the different choices buyers make across the market universe. Alternative industries embrace substitutes, that is, products and services that have different forms but the same functionality or core utility. Cars and buses, for example, are substitutes because they have the same function: going from one place to another quickly. Alternatives also embrace products and services that have different functions and forms but the same objective. For example, cinemas and restaurants are alternatives because they have neither the same form nor the same function: cinemas provide visual entertainment, while restaurants provide conversational and gastronomical pleasure. However, cinemas and restaurants have the same objective: enjoying a night out.
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