Menciptakan Keunggulan Bisnis dengan Blue Ocean Strategy

Summary

This video introduces Blue Ocean Strategy (BOS), a management approach that encourages organizations to create new, uncontested market spaces rather than competing in crowded markets. It emphasizes the importance of innovation and customer value over direct competition, with key concepts such as eliminating existing industry norms and creating new dimensions for products or services. The video outlines practical frameworks like the Eliminate-Reduce-Raise-Create method, and highlights the challenges of applying Blue Ocean Strategy in practice. While powerful for product and market development, its implementation can be difficult, and not every company may need to adopt it.

Takeaways

• 😀 Blue Ocean Strategy focuses on creating uncontested market space, making competition irrelevant.
• 😀 Unlike traditional strategies that aim to compete in existing markets (Red Ocean), Blue Ocean emphasizes innovation and differentiation.
• 😀 The strategy encourages businesses to move beyond competition and instead create new demand in an untapped market.
• 😀 Key principles of Blue Ocean Strategy include eliminating unnecessary factors, reducing industry standards, enhancing certain features, and adding new elements.
• 😀 Blue Ocean Strategy aims to break the value-cost trade-off, offering high value without high costs.
• 😀 It is best applied during stages like product development or market development to drive creativity and market expansion.
• 😀 Blue Ocean Strategy is conceptual and philosophical, often requiring businesses to rethink traditional strategies and focus on customer value rather than competitors.
• 😀 The strategy involves focusing on customer value rather than competing against existing players in the market.
• 😀 The Blue Ocean approach encourages businesses to start from scratch by identifying new possibilities and opportunities in the industry.
• 😀 Blue Ocean Strategy is still relatively theoretical and lacks concrete, operational guidelines for implementation, which can make it challenging for some companies.
• 😀 Although Blue Ocean Strategy can be powerful, it is not suitable for every organization, especially those that can still succeed with existing competitive strategies like cost leadership or differentiation.

Q & A

What is the main concept behind Blue Ocean Strategy?

Blue Ocean Strategy focuses on creating uncontested market spaces where competition is irrelevant, as opposed to Red Ocean strategies, which compete within existing, crowded markets.

How does Blue Ocean Strategy differ from Red Ocean Strategy?

Red Ocean Strategy focuses on competing within existing markets by differentiating from competitors, while Blue Ocean Strategy emphasizes creating new markets and making the competition irrelevant.

What does 'making the competition irrelevant' mean in Blue Ocean Strategy?

'Making the competition irrelevant' means that, instead of fighting for market share in a crowded industry, businesses create new, uncontested markets where there is no direct competition.

What role does innovation play in Blue Ocean Strategy?

Innovation is central to Blue Ocean Strategy, as it involves creating new products, services, or market dimensions that meet previously unaddressed customer needs, thereby opening up new, uncontested spaces.

What are the key differences between Blue Ocean and Red Ocean strategies regarding competition?

In Red Ocean, companies focus on outperforming competitors within the existing market space, whereas Blue Ocean seeks to eliminate competition by creating a new market space.

How can Blue Ocean Strategy impact the value-cost tradeoff?

Blue Ocean Strategy breaks the traditional value-cost tradeoff by enabling companies to offer both high value and low cost, as opposed to Red Ocean strategies, which often force businesses to choose between one or the other.

What steps should an organization take when adopting Blue Ocean Strategy?

Organizations should focus on customer value, reconstruct market boundaries, engage in innovation, and apply the six principles of Blue Ocean Strategy, which guide companies to reach beyond existing demand and reframe industry standards.

What are the six principles of Blue Ocean Strategy?

The six principles of Blue Ocean Strategy are: reconstruct market boundaries, focus on the big picture, reach beyond existing demand, get the strategic sequence right, overcome organizational hurdles, and build execution into strategy.

What challenges do companies face when implementing Blue Ocean Strategy?

Challenges include the theoretical and conceptual nature of the strategy, lack of concrete operational guidance, the risk of market disruption, and the difficulty of creating new, uncontested market spaces.

When is Blue Ocean Strategy most useful for a company?

Blue Ocean Strategy is most useful when a company is looking to create new products or enter untapped markets, especially in situations where competition is too fierce in existing industries.