This is a follow up to the best selling Blue Ocean Strategy. This time, the professors from INSEAD are back and they are going to coach you for the price of this book. They broke down the process to achieve Blue Ocean nirvana into steps:
1. Choose an area that has stopped growing
2. Choose a team including at least the heads of all the departments (including backend ones like HR)
3. Go to the ground and experience the product or service in question as a user, to find out the 'pain points'
4. Put this into a Strategy Canvas, including industry standards
5. Use a buyer utility map to see how you can do better than the industry standard
6. Identify the non-customers
7. Find out the competition: alternatives the non-customers use
8. Now think of improving your product to appeal to those people
9. Present to management and potential customers
10. Create the product
11. Voilà! You have a Blue Ocean Product/Service $$$
I am sure the professors are in high demand, being employed by the Malaysian government and other big companies. However, this book is not a scientific book. It shows only the success stories and does not evaluate whether this strategy is scientifically better than other strategy or usual practice. This this remains one of those 'how to be successful' books that shows lots of bias towards admiring the 'winners' too much.
Nonetheless this book deserves 5 stars because: 1. A lot of companies will be doing this; 2. It does give a systematic way for companies to innovate, which is really really trough especially if you want it to be a success.