Blue Ocean Strategy Company - LG’s Heart and Seoul: 2 By 10

Blue Ocean Strategy Company - LG’s Heart and Seoul: 2 By 10

We recently came across a snapshot of the promotional materials for LG’s Blue Ocean Strategy campaign, Blue Ocean Strategy Company. The campaign, entitled ‘BLUE OCEAN 2 BY 10’ represents LG Electronic’s aim to be among the world's Top 3 mobile communications companies in three years, and the Number 2 player by 2010.

The blog jeffooi.com has some interesting stories and photos from a recent promo tour LG, Blue Ocean Strategy Company, gave to journalists about its Blue Ocean Strategy at its Seoul headquarters. According to Jae Bae, LG’s Executive Vice President for Overseas Sales & Marketing Division:

To be the Top 3 in three years' time, the entire LG, Blue Ocean Strategy Company, workforce -- from product development, global marketing and distribution to analysing customer feedback and user experience -- has been psyched on the mantra of ERRC Framework which, in the LG's adoption of Blue Ocean Strategy, stands for Elimination (of factors that the industry have taken for granted), Reduction (of factors that are below the industry standards), Raising (of factors well above the industry standards) and Creation (of factors that the industry has never created).

Some acknowledge that LG’s goal seems pretty ambitious. But as Blue Ocean Strategy shows, it is only when we raise the bar to seemingly absurd levels that we begin to rethink everything. And it looks like LG has done quite a bit of rethinking over the past year, as evidenced with the sale of over 7,5 million Chocolate Bar phones and 21 of its products receiving accolades at the recent International Forum Design Awards in Germany.