Why is Blue Ocean Strategy an evergreen for shifting business models and new product development?

Published in 2005 by INSEAD professors W. Chan Kim and Renée Mauborgne, Blue Ocean Strategy book has become a global phenomenon, as it has sold in over 3,5 million copies and was translated into 44 languages.

Thy hype over the new attitude on competing and the idea of creating new markets of so called noncustomers was extremely strong for a few years. But it’s gone. Today, marketers, trainers, entrepreneurs and business people in general have found a new hype – Alexander Osterwalder’s Business Model Generation and Value Proposition Design.

While it is out of question that the tools created by Osterwalder (and 470 practicioneers from 45 countries as the book was co-created) are very useful and make thinking about business models much less complex, I believe that Blue Ocean Strategy can still greatly support thinking about new products and businesses as it makes it easier to see things from other perspective.
(more…)