TITLE:
Value Innovation by Creating Blue Oceans
AUTHORS:
Thomas Hammer
KEYWORDS:
Blue Ocean, Innovation, Value Innovation
JOURNAL NAME:
Open Access Library Journal,
Vol.9 No.2,
February
11,
2022
ABSTRACT: This text will explain to the reader how important it is for companies to create “Value Innovation” and to find “Blue Oceans”. It is shown on 3 examples, how the customer can be made “addicted” to all-in-one services or platforms and how the customer accepts a high price elasticity due to convenience. It will be explained, how creating “Blue Oceans” will result in having almost no competition and how customer-centric orientation and value creation are related to this strategy and how the term “Disruptive Innovation” differs from it. The text also defines the terms “Red” vs. “Blue” Oceans and gives a brief history of this sector.