A Toro book club pic for 2017. If you haven’t yet read it, we highly recommend you pickup up a copy of Blue Ocean Strategy, by Renée Mauborgne and W. Chan Kim.
First published in 2005, and expanded and reissued in 2015, this book is a favourite of Toro’s and a number of our clients that we work with to infuse innovation and create new market space in their organizations.
What is a Blue Ocean strategy? In their book, Mauborgne and Kim observed that “companies tend to engage in head-to-head competition in search of sustained profitable growth. Yet in today’s overcrowded industries competing head-on results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Lasting success increasingly comes, not from battling competitors, but from creating blue oceans of untapped new market spaces ripe for growth.”
Similar to Toro’s strategic approach, a Blue Ocean Strategy is:
– grounded in data
– empowers you through tools and frameworks
– creates uncontested market space
– maximizes opportunity while minimizing risk, and
– builds execution into strategy.
And in Toro’s blue ocean – there are Mai Tai’s.
Come swim with us!
