![]() “In value innovation, the key is what you can consciously choose not to do because it provides very little value added, so that you can release time and resources. “Too many people, when they talk about strategy reinvention, just talk about adding more stuff to their offering,” he says. ![]() Innovation at the Wharton School in Philadelphia. ![]() He’s also a senior fellow at the Mack Center of Technological Strategy in his consulting work with financial services, pharmaceutical and information-technology corporations. , in WestĬonshohocken, Penn., employs value innovation concepts outlined in Blue Ocean ![]() Roch Parayre, a managing director of Decision Strategies International Inc. Instead, you rethink and re-imagine what you are offering, making it so distinctive the competition no longer matters. The authors argue the best way to reach that blue ocean and beat the competition is to stop trying. That stands in contrast to “red ocean” market space, in which competitors fight tooth and nail over existing space and along common rules of engagement, turning the ocean blood-red. What’s a “blue ocean”? It’s undiscovered but highly profitable market space, according to Kim and Mauborgne, both professors at France’s INSEAD business school. “iTunes unlocked a ‘blue ocean’ in digital music.” Chan Kim and Renée Mauborgne in their new book, Blue Ocean Strategy: How to create uncontested market space and make the competition irrelevant. “Apple capitalized on this decisive trend ” say W. iTunes was convenient and bug-free, and its success fed into Apple’s hot portable MP3 product, the iPod. Until then, no company had been truly able to capture the online market, which consisted mainly of the illegal downloading of millions of songs at no cost. It created online store iTunes, from which people could download legal, high-quality song files at a buck a pop. decided to strike out into new territory: music distribution. ![]() In 2003, technology company Apple Computer Inc. ![]()
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