WC

W. Chan Kim

112quotes

W. Chan Kim: A Pioneer in Business Strategy and Innovation


Full Name and Common Aliases


W. Chan Kim is a renowned Korean-American business strategist, author, and educator, best known for his work on blue ocean strategy.

Birth and Death Dates


Born on April 7, 1952, in South Korea, W. Chan Kim's date of death is not publicly available.

Nationality and Profession(s)


Kim holds dual citizenship of the United States and South Korea. He is a professor of strategy at INSEAD (Institut Européen d'Administration des Affaires), one of the world's leading business schools, where he has been teaching for over three decades.

Early Life and Background


Growing up in post-war South Korea, Kim was exposed to the country's rapid economic growth and transformation. His family's struggles during this period instilled in him a strong work ethic and a passion for learning. Kim earned his undergraduate degree from Seoul National University and later moved to the United States to pursue his graduate studies at Harvard Business School.

Major Accomplishments


Kim's most significant contribution is the development of the blue ocean strategy concept, which challenges traditional business thinking by advocating for innovation-driven strategies that create new markets rather than competing in existing ones. This approach has been widely adopted by businesses worldwide and has become a hallmark of Kim's work.

Notable Works or Actions


In 2005, Kim co-authored Blue Ocean Strategy with Renée Mauborgne, a fellow professor at INSEAD. The book became an instant bestseller and has since been translated into over 30 languages. It offers practical guidance on how to create a "blue ocean" – a market space that is uncluttered by competition, yet vast in potential.

Impact and Legacy


Kim's ideas have had far-reaching implications for businesses across various industries. His work has inspired companies like Sony, IBM, and LEGO to rethink their strategies and focus on innovation-driven growth. Moreover, his emphasis on creating new markets rather than competing in existing ones has led to the emergence of new business models and innovative products.

Why They Are Widely Quoted or Remembered


W. Chan Kim is widely quoted and remembered for several reasons:

His groundbreaking work on blue ocean strategy has redefined the way businesses approach market competition.
 His ability to communicate complex ideas in a clear, concise manner has made his concepts accessible to audiences worldwide.
* His commitment to innovation has inspired generations of business leaders and entrepreneurs to think differently about growth and success.

As a thought leader and educator, Kim continues to shape the business landscape through his teaching, research, and writing. His legacy serves as a testament to the power of innovative thinking and its potential to transform industries and economies worldwide.

Quotes by W. Chan Kim

W. Chan Kim's insights on:

Focus on innovating at value, not positioning against competitors.
"
Focus on innovating at value, not positioning against competitors.
WC
Given the high potential for free riding, an offering’s reputation must be earned on day one, because brand building increasingly relies heavily on word-of-mouth recommendations spreading rapidly through our networked society.
"
Given the high potential for free riding, an offering’s reputation must be earned on day one, because brand building increasingly relies heavily on word-of-mouth recommendations spreading rapidly through our networked society.
WC
If you can move people by inspiring and building their confidence to own and drive your new strategy, they will be committed to seeing change through and overcoming the organizational constraints you confront.
"
If you can move people by inspiring and building their confidence to own and drive your new strategy, they will be committed to seeing change through and overcoming the organizational constraints you confront.
WC
To tip the cognitive hurdle fast, tipping point leaders such as Bratton zoom in on the act of disproportionate influence: making people see and experience harsh reality firsthand. Research in neuroscience and cognitive science shows that people remember and respond most effectively to what they see and experience: “Seeing is believing.” In the realm of experience, positive stimuli reinforce behavior, whereas negative stimuli change attitudes and behavior. Simply.
"
To tip the cognitive hurdle fast, tipping point leaders such as Bratton zoom in on the act of disproportionate influence: making people see and experience harsh reality firsthand. Research in neuroscience and cognitive science shows that people remember and respond most effectively to what they see and experience: “Seeing is believing.” In the realm of experience, positive stimuli reinforce behavior, whereas negative stimuli change attitudes and behavior. Simply.
WC
Voluntary cooperation is more than mechanical execution, where people do only what it takes to get by. It involves going beyond the call of duty, wherein individuals exert energy and initiative to the best of their abilities – even subordinating personal self-interest – to execute resulting strategies.3.
"
Voluntary cooperation is more than mechanical execution, where people do only what it takes to get by. It involves going beyond the call of duty, wherein individuals exert energy and initiative to the best of their abilities – even subordinating personal self-interest – to execute resulting strategies.3.
WC
As companies compete to embrace customer preferences through finer segmentation, they often risk creating too-small target markets.
"
As companies compete to embrace customer preferences through finer segmentation, they often risk creating too-small target markets.
WC
As shown in figure 2-2, to break the trade-off between differentiation and low cost and to create a new value curve, there are four key questions to challenge an industry’s strategic logic and business model: Which of the factors that the industry takes for granted should be eliminated? Which factors should be reduced well below the industry’s standard? Which factors should be raised well above the industry’s standard? Which factors should be created that the industry has never offered?
"
As shown in figure 2-2, to break the trade-off between differentiation and low cost and to create a new value curve, there are four key questions to challenge an industry’s strategic logic and business model: Which of the factors that the industry takes for granted should be eliminated? Which factors should be reduced well below the industry’s standard? Which factors should be raised well above the industry’s standard? Which factors should be created that the industry has never offered?
WC
Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce.
"
Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce.
WC
The key here is not to pursue pricing against the competition within an industry but rather to pursue pricing against substitutes and alternatives across industries and nonindustries.
"
The key here is not to pursue pricing against the competition within an industry but rather to pursue pricing against substitutes and alternatives across industries and nonindustries.
WC
Instead of drilling down and finding ways to creatively meet the target cost as Ford did, if companies give in to the tempting route of either bumping up the strategic price or cutting back on utility, they are not on the path to lucrative blue waters.
"
Instead of drilling down and finding ways to creatively meet the target cost as Ford did, if companies give in to the tempting route of either bumping up the strategic price or cutting back on utility, they are not on the path to lucrative blue waters.
WC
Showing 1 to 10 of 112 results