“Value innovation is created in the region where a company's actions favorably affect both its cost structure and its value proposition to buyers. Cost saving are made by eliminating and reducing the factors an industry competes on. Buyer value is lifted by raising and creating elements the industry has never offered. Over time, costs are reduced further as scale economics kick in due to the high sales volumes that superior value generates.”

— W. Chan Kim , book Blue Ocean Strategy

Source: Blue Ocean Strategy, 2005, p. 15

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Value innovation is created in the region where a company's actions favorably affect both its cost structure and its va…" by W. Chan Kim?

W. Chan Kim 8

South Korean economist 1951

W. Chan Kim book Blue Ocean Strategy

Source: Blue Ocean Strategy, 2005, p. 17-18 (2016 extended edition)

“Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space.”

W. Chan Kim book Blue Ocean Strategy

Source: Blue Ocean Strategy, 2005, p. 13 (2016 extended edition)

“I never confuse the cost of something with its value”

Robin Hobb book The Mad Ship

Source: The Mad Ship

“Nothing gained without cost is valued. Freedom has a cost, and all will bear it so all will value and preserve it.”

Terry Goodkind (1948) American novelist

“Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market. (footnote 4: The original contributions were those of Hayek”

Douglass C. North (1920–2015) American Economist

1937 and 1945)
Douglass North, in "Structure and Change in Economic History" (1981), p. 36

“55: LISP programmers know the value of everything and the cost of nothing.”

Alan Perlis Epigrams on Programming

Epigrams on Programming, 1982

“It is past all controversy that what costs dearest is, and ought to be, most valued.”

Miguel de Cervantes (1547–1616) Spanish novelist, poet, and playwright

Chap 11.
Don Quixote de la Mancha (1605–1615), Part I, Book IV

“The firm achieving focus may also potentially earn above-average returns for its industry. Its focus means that the firm either has a low cost position with its strategic target, high differentiation, or both.”

Michael E. Porter (1947) American engineer and economist

Source: Competitive strategy, 1980, p. 39

“The natural effect of unfettered market competition is socialism. For a short time the innovator receives a large profit, as a reward for being first to the market. Then, as competitors adopt the innovation, competition drives these profits down to zero and the price gravitates toward the new, lower cost of production made possible by this innovation (that price including, of course, the cost of the producer’s maintenance and the amortization of her capital outlays). So in a free market, the cost savings in labor required to produce any given commodity would quickly be socialized in the form of reduced labor cost to purchase it.”

Kevin Carson (1963) American academic

"Who Owns the Benefit? The Free Market as Full Communism" https://theanarchistlibrary.org/library/kevin-carson-who-owns-the-benefit-the-free-market-as-full-communism (2012)

“Economists tell us that the 'price' of an object and its 'value' have very little or nothing to do with one another. 'Value' is entirely subjective — economic value, anyway — while 'price' reflects whatever a buyer is willing to give up to get the object in question, and whatever the seller is willing to accept to give it up. Both are governed by the Law of Marginal Utility, which is actually a law of psychology, rather than economics. For government to attempt to dictate a 'fair price' betrays complete misunderstanding of the entire process.”

L. Neil Smith (1946) American writer

Ceres, Chapter Eighteen http://www.bigheadpress.com/lneilsmith/?page_id=235, 2009.

Help us to complete the source, original and additional information

W. Chan Kim 8

Related quotes

Related topics