Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant
Authors: W. Chan Kim & Renee Mauborgne
Summary: Blue oceans are described as those markets that are untapped and perfect for growth. They are discovered by understanding a business’ “value innovation” that is so distinct, that there is no other competition for the same market space. Once created, this value innovation is then strategically moved from vision to execution.
- There are many untapped niche markets
- Think outside traditional boundaries
- Each business is unique
Why I recommend this book: I like that this concept creates a more sustainable and unique business model and addresses the “competition” problem in a new way.
Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers
Authors: Alexander Osterwalder & Yves Pigneur
Summary: Visionaries, game changers and challengers are a unique group of business model developers and this book is a collaboration between 470 strategy practitioners from around the world that wanted to create an easy way to bring together the best of business model development into one area. There are a large amount of graphics and easy “canvases” to help stimulate those right-brained juices.
- Large graphics that simply business model development
- The best of all business model pieces in one book
- Easy to digest and fun to use, yet very effective
Why I recommend this book: I almost didn’t get this book because of all of the pictures–I thought it may not have value. But once I dug into the material, I found the simplicity of it to be its most valuable attribute. It effortlessly pieces together all of the things needed to make a complete plan and is every easy to use with clients.