Blue Ocean Strategy December 8, 2006
Posted by The Probabilist in : [Books], Business, Creativity, Entrepreneurship, Goals, Innovation, Productivity, Vision, Leadership , 3 comments
W. Chan Kim & Renée Mauborgne’s book Blue Ocean Strategy is today’s top bestseller in the area of business strategy. In its first year since the date of publishing it has reached over a million copies sold in 34 languages. This book is the result of a decade-long study of 150 strategic moves spanning more than 30 industries over 100 years. Its tagline can be described as follows. Why compete in the bloody red waters of existing shark-infested oceans when you can create blue oceans of uncontested market space where competition is irrelevant?
Blue Ocean Strategy covers both the formulation as well as execution of its strategy and does it with numerous frameworks that illustrate a company’s strategic ventures in easy to grasp terms that make sense both in detail and in a big picture perspective. These models include the four actions framework, strategy canvas/value curve, six paths, buyer experience cycle & utility map and blue ocean idea index. In general terms the three key conceptual building blocks of the BOS are value innovation, tipping point leadership and fair process.
Like many other successful books, this too uses the advantage of showing multiple real life examples of businesses that have and are using principles that are part of the overall Blue Ocean Strategy - the ingredient that catches any reader’s attention and interest. Success stories always hit home, but are nevertheless a result of conscious and demanding planning and action. However, in many cases the pivotal point leading to success was excellence in merely one aspect of the BOS, while no particular example addressed all aspects as a whole.
My point is not to shun the importance of focusing on all the outstanding insights this book offers, but to acknowledge that even some of these strategic changes may have significant positive results in business results. Really excellent companies reach the spotlight of unprecedented growth by leveraging most if not all of the steps a fully integrated Blue Ocean Strategy suggests.
Writing down a summary of the chapters of this book serves no better purpose to grasping how great of a book BOS is or what it encompasses. But for those of you even remotely involved in the corporate world are strongly advised to read this book to discover today’s most cutting edge business strategy. Even if it’s just for the sake of preparing yourself for it once the company you work for starts to seek and swim in its own blue ocean.
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Bargaining for Advantage December 1, 2006
Posted by The Probabilist in : [Books], Business, Communication, Goals, Personal Growth, Politics, Relationships, Abilities, Investing, Leadership, Speaking , 1 comment so far
G. Richard Shell, the author of this book catches your attention by stating that we all negotiate every day with all people we’re in contact with. He offers not only valid principles on the different stages and courses of action during a negotiation, but also many practical real examples where they were used. Among the examples are how Donald Trump, Benjamin Franklin, Mahatma Gandhi, Akio Morita and J. P. Morgan handled different situations to their advantage.
The first part of Bargaining for Advantage describes the six foundations of effective negotiating - your style of negotiation, your goals and expectations, authoritative principles and norms, relations, the other party’s interests and influence. It’s all about equipping the reader with improved ability to prepare oneself for bargaining situations. As I mentioned earlier, you can’t achieve more or perform better than you’re aware of being possible.
The second part then splits the negotiation into four distinct phases or processes - preparation, trading information, openings and concessions as well as closure and carrying out. This is where the six foundations are of practical importance to help you keep your edge at all times. Additionally he touches upon ethical standpoints when negotiating and separating between three sets of rules of what’s morally acceptable to say and not say.
The only thing I found missing, which is an important part of negotiations is what’s considered as true and what’s not. There are moments when two sides simply can’t come to an agreement of what is fact and what is opinion and how valid and accurate they are and to whom. I read this book in Swedish for a course I’m taking. Even though I’m not currently in a life situation where negotiations are a significant part of adding more value, I still found Bargaining for Advantage a worthwhile read. At least I know where to re-discover great answers once the stakes are getting higher.
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