W. Chan Kim
W. Chan Kim (Hangul: 김위찬; born 1951) is a Korean-born business theorist, Professor of Strategy and Management at INSEAD, and co-director of the INSEAD Blue Ocean Strategy Institute in Fontainebleau, France. He is known as co-author of the 2005 book Blue Ocean Strategy.
Born in Korea, Kim was educated at Ross School of Business, where late 1970s he started his academic career eventually becoming Professor. In 1992 he moved to France, where he became Professor of Strategy and Management at INSEAD, and co-director of the INSEAD Blue Ocean Strategy Institute in Fontainebleau, France.
In 2008 he was awarded the Nobels Colloquia Prize for Leadership on Business and Economic Thinking. He was ranked second in the Thinkers50 of the most influential management thinkers alive.
Creating New Market Space
In their 1999 Harvard Business Review article "Creating New Market Space" Kim and Renée Mauborgne presented a popular post-Porter model. In this article they described a "value innovation" model in which companies must look outside their present paradigms to find new value propositions.
Their approach complements most of Porter's thinking, especially the concept of differentiation. They later went on to publish their ideas in the book Blue Ocean Strategy. Thus it is difficult, but not impossible, to topple a firm that has established a dominant standard.
Blue Ocean Strategy
Blue Ocean Strategy is a business strategy book first published in 2005 and written by W. Chan Kim and Renée Mauborgne of The Blue Ocean Strategy Institute at INSEAD. The book illustrates what the authors believe is the best organizational strategy to generate growth and profits. Blue Ocean Strategy suggests that an organization should create new demand in an uncontested market space, or a "Blue Ocean", rather than compete head-to-head with other suppliers in an existing industry.
Kim has published two famous book and numerous articles on strategic management of multinationals.
- 2005 Blue Ocean Strategy. How to Create Uncontested Market Space and Make the Competition Irrelevant. With Renée Mauborgne. Boston, Massachusetts: Harvard Business School Press.
- 2017 Blue Ocean Shift. Beyond Competing. With Renée Mauborgne. New York: Hachette Books
Articles, a selection:
- Hill, Charles WL, Peter Hwang, and W. Chan Kim. "An eclectic theory of the choice of international entry mode." Strategic management journal 11.2 (1990): 117-128.
- Kim, W. Chan, and Peter Hwang. "Global strategy and multinationals' entry mode choice." Journal of International Business Studies (1992): 29-53.
- Kim, W. Chan, and Renee A. Mauborgne. "Procedural justice, attitudes, and subsidiary top management compliance with multinationals" corporate strategic decisions." Academy of management journal 36.3 (1993): 502-526.
- Kim, W. Chan, and Renée Mauborgne. "Value innovation." Havard Business Review 1 (1997).
- Kim, W. Chan, and Renée Mauborgne. "Strategy, value innovation, and the knowledge economy." Sloan management review 40 (1999): 41-54.
- Tom Brown et al. (eds.) (2002) Business Minds: Connect with the World's Greatest Management Thinkers. Pearson Education. p. 115
- Stuart Crainer (2002) "W. Chan Kim and Renée Mauborgne: The Thought Leader Interview." strategy-business.com. January 12, 2002
- W. Chan Kim at insead.edu. Accessed Sept 9, 2013
- W. Chan Kim and Renée Mauborgne The 50 Most Influential Management Gurus. 2013
- Kim, W. Chan; Mauborgne, Renée (1 February 2005). Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant. Harvard Business Press.
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- W. Chan Kim Web Profile at insead.edu