1. Creating Blue Oceans Cole Bengford Weizhou Lin Jonathan Hoelzer

2. Creating a New Path Cirque du Soleil Guy Laliberté – CEO Achieved remarkable growth in poor market “Only way to beat the competition is to stop trying to beat the competition.”

3. New Market Space To understand what Cirque du Soleil achieved, imagine two market places: Red Ocean- Represent all industries in existence The known market space Blue Ocean – Represent all industries not in existence The unknown market space

4. Red Ocean Industry boundaries are defined and accepted Companies try to outperform each other Cutthroat competition Fish Market

5. Blue Ocean Untapped market space Demand creation Highly profitable growth Most blue oceans created within industry boundaries Competition is irrelevant 3M Science

6. About 3M Founded 1902 originally as Mining Venture Formerly Known as Minnesota Mining and Manufacturing Company American Multinational Conglomerate Company $30 billion in Sales Employs 88,000 people worldwide

7. 3M Continued Produces more than 55,000 products(adhesives, abrasives, laminates, passive fire protection and even medical supplies) Operations in more than 65 Countries 3M products available for purchase through distributers and retailers in over 200 countries Achievements' recognized by American Institute of Management “one of the five best-managed companies in the United States

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9. Competition and Red Oceans As similar-product prices gradually rise, we focus more on the “price of the sale” rather than the product. Crest may be your brand choice, but Colgate might have a special price cut. Red ocean intensifies Blue ocean created out of boundaries within red oceans Industry boosts from competition within red oceans

10. 3M Competing Company competes with innovation Waterproof Sandpaper and masking tape, as well as cellophane aka Scotch Tape. Unique Sound deadening products for cars Produced Several models of Magnetic Tape Recorders that still have a following to this day 3M’s main competitor is GE(General Electric) and others include Danaher(DHR) and Tyco International(TYC) 3M is so successful based off controlling such a large market share and continue to develop new products in other markets therefore increasing revenue and competition

11. 3M 3M relates to that of Cirque du Soleil’s success with expanding into new uncontested market space This made competition irrelevant For example 3M in the 1970’s created a board game line, entering a new market that was not as contested at the time, allowing 3M to again thrive in markets other than production of Adhesives etc..

12. From Company to Industry to Strategic Move In the Search of Excellence and Built to Last Companies in survey disappeared within 2 yrs of publication HP success was of industry success not the company, Japanese companies as well Cirque du Soleil entertainment (blue ocean market) Strategic (market creating) move, not company or industry, Compaq not independent, server industry comeback Strategic Move (auto, Ford Model T, computer, Compaq Server, cinema, Cirque du Soleil entertainment )

13. Value Innovation: The Cornerstone of Blue Oceans Strategy Value innovations vs. value creation Value Innovation - focus not on competitors, value and innovation. Adding value, innovations and lowering cost Cirque du Soleil – Circus, tents, clowns, acrobatics. Theater performance, multi production pricing (Broadway Shows)

14. Value Innovation: The Cornerstone of Blue Oceans Strategy Cont.

15. Formulating and Executing Blue Ocean Strategy