Abstract
In this chapter, we will discuss the notion of value innovation and its
importance for the PSS business models, while differentiating the areas of red and blue
oceans heavily based on the winning idea of the Blue Ocean Strategy proposed by
Chan Kim and Renée Mauborgne in 2004. The chapter will also overview the main
strategies for getting started with value innovation for firms through differentiation.
Finally, the concept is to be put into practice through the review of case studies of firms
and organisations that have engaged in value innovation through redefining market
boundaries.
Keywords: Blue ocean strategy, Social innovation, Technology-service convergence, Value innovation.
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