Here's an excellent video on the Blue ocean strategy and five forces. The interview is worth your 6 and half minute.
Cranfield School of Management Centre for Customised Executive Development
Regards,
(Cite Contribution)
From India, Mumbai
1859Cranfield School of Management Centre for Customised Executive Development
Regards,
(Cite Contribution)
From India, Mumbai
Dear (Cite Contribution)
Thanks.
However, I beg to differ with the premises of "vs"; as they are not strategies 'competing' with each other.
Porter's model is a basic framework, a schema to understand the broader concept of strategy, that was very much in existence, before being 'discovered' or codified. It is akin to an economic theory which is propounded by an economist, although the phenomenon was already existing.
To take an HR analogy, it is like Maslow's Hierarchy of Needs which explains human motivation. It outlines an approach to understand the concept at large.
The Blue Ocean strategy on the other hand is purely a strategy; of innovation in new market space where competition does not exist. It takes-off from the Five Forces model as the launch-pad. To refer to the HR analogy, it is like Herzberg's Hygiene Motivation Theory which recommends building Motivation factors in a job or Mc Gregors X and Y theory which talks about a leader's attitude towards his reportees. Both are very specific and points towards an action plan.
In my view, Porter's is a generic model which conceptualizes the understanding of strategy; whereas Blue Ocean is a a very specific strategy per se.
It would be interesting to have other interested members' viewpoint.
Warm regards.
From India, Delhi
Thanks.
However, I beg to differ with the premises of "vs"; as they are not strategies 'competing' with each other.
Porter's model is a basic framework, a schema to understand the broader concept of strategy, that was very much in existence, before being 'discovered' or codified. It is akin to an economic theory which is propounded by an economist, although the phenomenon was already existing.
To take an HR analogy, it is like Maslow's Hierarchy of Needs which explains human motivation. It outlines an approach to understand the concept at large.
The Blue Ocean strategy on the other hand is purely a strategy; of innovation in new market space where competition does not exist. It takes-off from the Five Forces model as the launch-pad. To refer to the HR analogy, it is like Herzberg's Hygiene Motivation Theory which recommends building Motivation factors in a job or Mc Gregors X and Y theory which talks about a leader's attitude towards his reportees. Both are very specific and points towards an action plan.
In my view, Porter's is a generic model which conceptualizes the understanding of strategy; whereas Blue Ocean is a a very specific strategy per se.
It would be interesting to have other interested members' viewpoint.
Warm regards.
From India, Delhi
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