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1 I 2005 W. Chan Kim Renée Mauborgne - Chan Kim Renee Mauborgne /

2 Abstract The new business strategy, Blue Ocean Strategy, revealed by Professor W. Chan Kim and Professor Renée Mauborgne fix everybody s eyes upon in In the past, most of the strategy theories stress on the industry structure and emphasize on the importance of a firm s capabilities and market share which turns out to be stuck in the red ocean. Make efforts to maintain the existing competition positioning and attempt to lead the profitability in the profit diminished market. This strategy tries to remind and help enterprise create value innovation for customers through the four action framework of eliminate, reduce, raise, create. Break the dilemma of traditional competitive strategy in value-cost trade-off situation and create a new market space. Physical fitness equipment industry in Taiwan is now facing the price competition situation, and this present condition conforms to the definition of red ocean by W. Chan Kim and Renée Mauborgne. This research takes J.H.T and Joong-Chenn as the representitives of Taiwan, and discovers what the whole environment is about the industry. How does J.H.T systematically use Blue Ocean Strategy to become one of the big names successfully? How does Joong-Chenn respond to this new competition situation and adjust itself to maintain its own competitive advantage? And find out the suitable innovation strategy for the case and several suggestions for future researches. The results show that J.H.T plays a value integration role to control lower production factors and brands, tunnels through out the global logistic system and thus reach cost down and differentiation at the same time. Thus, J.H.T can grasp the opportunity of emerging market, and make foresightedness plan in accordance to the whole world demand change in the future. If Joong-Chenn tries to follow the pattern of J.H.T, it must make efforts on the timing of entry, the control ability of key components, key techniques and the differentiation of products to meet customers needs. The business-level strategy operates with value innovation and develops toward Integrating Cost Leadership and Differential Strategy. If Joong-Chenn wants to create another blue ocean, the first step is to build the steady foundation and accumulate enough resources and capabilities. Once Joong-Chenn discovered the blue ocean opportunity, it has the ability to put to the implementation. Otherwise, Joong-Chenn would unable fully achieve differentiation and low cost simultaneously, even easily stuck in the middle risk by its present condition. Key Words: Physical Fitness Equipment IndustryBlue Ocean StrategyInnovation II

3 III

4 IV...I Abstract... II...III...V...VI

5 2-1Porter Peteraf & Bergen ~ V

6 S-C-P Porter ~ ~ Kano s model...92 VI

7 W. Chan Kim Renée Mauborgne (Kim & Mauborgne,2005) (Hamel & Prahalad,2004) 2008 B2C

8 2

9 3

11 (INSEAD) Chan KimRenee Mauborgne Red Ocean Harvard Business Review(2004) (Commoditization)

12 Chan Kim Renee Mauborgne () () (). () - - (S-C-P) Dr. Kim Dr. Mauborgne Michael PorterS-C-P (Kim Mauborgne,2005)Porter Porter (Structuralist View) (Environmental Determinism) Mason(1939) Bain(1959) Mason Clark(1949) (Structure) (Conduct) (Performance) - - (S-C-P) 2-1 S-C-P 6

13 2-1S-C-P S-C-P () Porter 1. (Five Forces Model) Michael Porter(1980) 20 Porter(1980) 7

14 8 Michael Porter Michael Porter Porter(1980) Porter Hill Jones( ) 2. Porter(1998) (Positioning) Porter(1980) (1) Competitive Advantage(2) Competitive Scope

15 9 (Porter,1980) Porter ( ) A B C. D. 1. ( ) Hill Jones (1998) Porter (Hill E

16 10 Jones,1998) Porter / (Hill, Ireland & Hoskisson,2004)2-2E / (Stuck in the middle) /

17 Blue ocean strategy INSEAD W. Chan Kim Renée Mauborgne Blue Ocean ( 2004Hamel Prahalad Moore(1996) ( Kim & Mauborgne,2005) (1) (2) Hamel Prahalad (93 ) (1) (2) (3) 11

18 (1) (2) (3) (Reconstructionist View) ( Kim & Mauborgne,2005) (Value Innovation) MP3

19 2-3 Kim & Mauborgne (2005) - (The Value-cost Trade-off) 2-3 Adrian SlywotzkyRichard Wise (Slywotzky A. & Wise R., 2005) Wal-MarteBay (United Airlines) 13

20 Kim Mauborgne (Four Actions Framework (Kim & Mauborgne,2005) (Organizational Transformation) (Hamel & Prahalad,2004) 14

21 15 (Hamel Prahalad,2004) (Eliminate) 2. (Reduce)

22 16 3. (Raise) 4. (Create) Kim Mauborgne(2005) Kim Mauborgne ( 2005) (2005) PeterafBergen(2003)

23 Peteraf Bergen Peteraf & Bergen (2003), p Capability Equivalence 2 Market Needs Correspondence 1 Direct Rivals 2 Potential Direct Rivals 3 Vertical Differentiations 17

24 18 4 Weak Competitors (HamelPrahalad, (HamelPrahalad,2004) (1) Fill-in-the-blanks (2) White Spaces

25 (3) Premier Plus 10 (4) 19

26 (89) (Drucker P.F. 1911) 2-6 (Kim & Mauborgne,2005) 2-6 (2000)P.7 Innovation 1920 Schumpeter (Schumpeter,

27 2-5 Drucker (1985) Holt (1988) Brown (1992) Tidd, BessantPavitt 1997 Clark & Guy (1998) Hill & Jones (1998) (1) (2) (3) (Abernathy& Clark,1983) (1) (Regular Innovation) 21

28 (2) (Niche Creation Innovation) (3) (Architectural Innovation) (4) (Revolution Innovation) GobeliBrown(1987) 2-6 (Incremental Innovation) (Application Innovation) (Technical Innovation) (Radical Innovation) Gobeli & Brown (1987) (Frankel,1990) (1) (Continuous Innovation) (2) (Dynamic Continuous Innovation) 22

29 (3) (Discontinuous Innovation) Architecture (Henderson & Clark, Henderson & Clarks (1990) (1) (2) Know-how (3) 23

30 (4) (Christensen Raynor,2000 (1) Sustaining (2) (Disruption) 2003 Charles A. O Reilly Tushman M.(2004) (1) Incremental Innovation (2) Architectural Innovation (3) Discontinuous Innovations 24

31 Richard Weddle(EMBA2002) 2-8 Drucker(1985)? ? 5.

32 Robert(1995) Afuah(2003) (93) 1. (Pull) Scott

33 McGrath & MacMillan Donald Sull Christensen Raynor2003

34 28 (SlywotzkyWise, 2005) Charles A. O Reilly Tushman M.2004 Ambidextrous Organization

35 29 Slywotzky Wise(2005) Gary Hamel (HamelPrahalad,2000) McGRATH MacMILLAN2005 (MarketBusters)

36 30

37 31 Case Study (1998)

38 32 ( 1998) () () () Shontz(1965) ( 1998) () () () () ()

40 OEMODMOBM ( 2005 ) 1. i. ii. iii. iv. v. vi. vii. viii. ix. x

41 8. i. ii. iii / i. 35

42 ii. iii. iv. v. vi. vii. viii. ix. x. xi. 8. i. ii

43 () IEK-ITIS Physical Fitness Equipment 2002 () Global Industry Analysts Treadmills 2 Resistance Equipment Free Weights Home Gyms/ Multi-Stations 3 Elliptical Trainers 4 Aerobic Riders 5 Cross Country Ski Machines 6 Stationary Exercise Bicycles/ Ergometers Upright Dual Action Upright Recumbent 7 Benches 8 Ab Crunchers/ Abdominal Machines 9 Step Machines/ Stair Climbers 37

44 10 Stretching Machines 11 Rowing Machines 12 Toning Machines 13 Massagers 14 Other Equipment WHOGlobal Industry Analysts IEK-ITIS (2006) EN Class S Class I Class H Professional / commercial use / Professional / commercial use / Home use Class A Class B Class C Maximum accuracy Medium accuracy Least accuracy EN957-1 (Class H) (Class S Class I) Class I 38

45 Class HSI Class H S I Class ABC Class A Class C Class SA Johnson Health Tech. Co. Ltd

46 35-66 Elliptical Rower Treadmill 4-2 Johnson Health Tech. Co. Ltd. Global Industry Analysts , , % 4%5% 50 3, % 33 6, %4-3 40

47 ~2005 Global Industry Analysts IEK-ITIS (2006/01) Global Industry Analysts , % % 1 50, % % 2 31, % % 3 2, % % 4 17, % 19, % Global Industry Analysts IEK-ITIS (2006/04) 83 41

48 Global Industry Analysts IEK-ITIS (2006/01) % % 42

49 ( ) Icon Health & Fitness % % Nautilus Group Inc % % Life Fitness % 560 0% Precor % % Johnson Group % % TechnoGym Fitness Quest Cybex International Gym StarTrac True Fitness Schwinn Key Fitness Products Stair Master Johnson Health Tech. Co. Ltd. 4-4 Nautilus Group Inc 15% Icon 14% 47% (Competitive Spiral) 43

50 4-5 44

51 Fitness ExperienceOminnFitness Warehouse Wal-martK-mart SearsJC Penny CostcoPrice Club Fitnesszone.comOnlineFit.com 1. (8%) (63%) 4. YMCA (9%) (6%) 7 8. (5%) (6%) Johnson Health Tech. Co.Ltd. 45

52 () ( ) % ~2004 : IEK 2005/12 50%

53 ~ A A A 2 B B B B B B 4 B B B 5 B B B 6 C C B 7 C C C 8 C C C 9 C C C 10 C D C 5,960,279 6,249,522 6,418,262 11,769,503 50% 11,625,489 54% 12,495,375 51% A 10 B 10 ()5 C 5 () 2 D 2 () IEK (2005/12) % 2004 () 4-6 (2005) 47

54 1. SPA SPA 2. SPA Taibo 48

55 4-6 EICP (n=821) 1. OEM(Original Equipment Manufacturing )ODM(Own Design and Manufacturing ) R&D 4. /

56 7. ()

58 4. () 1. SPA SPA SPA SPA SPA 2. 4 MATRIXJOHNSONVISION HORIZON MATRIX 3. (1) Class I 52

59 (2) MP3 (3) ( ) 45 FIND/SVP % %

60 ( ) % ODM 99.98% 0.02% , NO.358 NO () IVANKO (1980~1995) 1995 R&D UNIVERSAL TUNTURI SCHWINNTRUEOMRONMIZUNO OEM ODM 90% JOHNSON 1996 EPIX VISION 54

61 VISION ISO GS JOHNSON VISION Consumer Digest Best Buy HORIZON FITNESS HORIZON STYLE UK Style Germany Office MATRIX Fitness MATRIX MATRIX ISO FDA CAVA Style France Style Spain 55

62 TSMA AWARD Style Japan JHT N.A JHT-Thailand 2005 JHT-Malaysia JHT-Italy Johnson Health Tech. Co.Ltd () % VISION HORIZON VISION MATRIX JOHNSON 56

63 4-9 VISION 3,500 ~5,000 Nautilus Omni 1/5 True 500 Trimline Icon HORIZON 599 ~1,500 3/5 Keys (TSA/DKS) Schwinn Sears Canada & FitnessQues USA MATRIX 3,000 ~10,000 1/5 Hyatt Hotel World Gym Gold s Gym Life fitness Precor JOHNSON 5,000 ~6,000 TechnoGym Johnson Health Tech. Co.Ltd % 20% 4. 5S+SOP+MBO 5S 57

64 58

65 ( ) () OEMODM OBM OEMODM 1985 WECK OEM BodySolid OBM Consumer Digest Best Buy 2000 Steelflex 2001 CE ETL SGS ISO FMI Fitnex TSMA AWARD 2004 SBU 2005 JOONG CHENN INDUSTRIAL CO.,LTD. 59

66 () 60% 30% JOONG CHENN INDUSTRIAL CO.,LTD 20 WECK OEM 1990 Body-Solid OBM 3 SteelFlex Fitnex JOONG CHENN INDUSTRIAL CO.,LTD 60

67 4-11 (Solid ) Body Fitnex ( ) Steelflex 2.6 OEM (57%) ODM ( ) ( ) 0.87 (19%) OBM 0.77 OBM OBM (17%) 3.4 (61%) 0.9 (16%) 0.74 (13%) Body-Solid Body-Solid JOONG CHENN INDUSTRIAL CO.,LTD 4-11 () 40% 12 DC PC PC 61

68 62 ( Kim & Mauborgne, (S-C-P) OEM

69 % Nautilus Group Inc 15% Icon 14% Life Icon Health & Fitness 7% -14 % Nautilus Group Inc 5% 20 % Life Fitness 15% 0 % Precor 31% 15 % Johnson Group 41% 32 % Johnson Health Tech. Co. Ltd. Chan Kim Renee Mauborgne

70 Gary Hamel C.K. Prahalad1994 James Moore1996 ( ) Chan Kim Renee Mauborgne2005 (1) (2) 2006 OEM 69 TUNTURI ODM 85 VISION () OEMODM VISION MATRIXJOHNSONHORIZON 64

71 % 5-1

72 Johnson Health Tech. Co. Ltd % OEM/ODM

73 67 Icon % 5% () (Global Logistics Management) (Van der Hoop,1992) ( ) ( 2000) Icon Nautilus Precor

74 Johnson Icon Nautilus LIFE Precor TechnoGym Cybex StarTrac True Others % 10% 8.40% 45% 22% 29% Johnson Health Tech. Co. Ltd. (Madison)

75 6 8 () , % % 5.9% 1.9% 7.0% 7.7% 10% Global Industry Analyst s Report (%) 2010(%) (%) (Treadmills) (Resistance Equipment) (Elliptical Trainers) (Aerobic Riders) (Ski Machines) (Stationary Exercise Bicycles) (Benches) (Ab Crunchers/ Abdominal Machines) (Step Machines/Stair Climbers) (Stretching Machines) (rowing Machines) (Toning Machines) (Massagers) Global Industry Analyst's Report 2004 IEK (2005/12) 69

76 Ti10K Taibo () JOHNSON VISION HORIZON MATRIX VISION HORIZON MATRIX ( ) 80% ODM OEM OEM Chan Kim Renee Mauborgne2005 ()

77 () (2005) ( 1) ( 2) 5-2

78 (1) OEMODMOBM (2) (3) 4/5 1/5 (4) (5) (6) (7) (O Reilly C. A. Tushman M., %

79 73 20% (Frankel,1990) ()

80 MATRIX 12.4 VISION E-learning 74

81 75 Michael Porter Who WhatHow Who What How : Swatch ( ) 35~45 20~35 ( )

82 Who What How ( ) ( SPA ( ) 55 EX:

83 77 () Icon HealthFitnessNautilusLife Fitness () ( 1) ( 2) 5-4

84 (1) (2) (3) (4) (5) (6)

85 79 () () () (Cristensen & Raynor,2003) 5-8

86 5-8 / 1. (Kim & Mauborgne, 2005) 80

87 Cristensen Raynor(2003) () E-learning

88 82 () () ()

89 83 OEMODMBody-Solid (Christensen & Raynor,2003 Body-Solid Body-Solid 5-5

90 5-5 WhoWhatHow WhoWhatHow

91 Who What How

92 86 (1) Who (2) What (3) How / WhoWhatHow

93 87 Chan Kim Renee Mauborgne(2005) Chan Kim Renee Mauborgne2005 OEMODM Michael Porter 1996

94 88 () () () () () / WhoWhatHow

95 89 () 1. W.Chan Kim Renée Mauborgne

96 90 HamelPrahalad(2004) (Hamel Prahalad,2004) Hill & Jones(1998) (1) (2) (3) 2. (1) Berry (2) SPA (3)

97 3. () 1. OEMODM 2. Charles A. O Reilly Tushman M ( 381 ) (Noriaki Kano) 1984 (Two-Dimension Model) 92 (Attractive Quality Element) (One-dimensional Quality Element) (Must-be Quality Element) (Indifferent Quality Element) (Inverse Quality Element) ( 260 ) Kano Kano 91

98 92 ( 381 ) Kano s model )

99 Kano Kano Kano Kano Kano

100 94 Kano

101 Afuah A. (2000) ( ) Christensen C.M.& Raynor M.E.2000 Christensen C.M.& Raynor M.E.(2003) EMBA (2002)185 1 Hamel, G. and C.K. Prahalad(2004) ( ) Hill & Jones(1999) ( ) Kim W.(2002) ( ) Kim W. Chan & R. Mauborgne(2005) ( ) Rita McGRATH & Ian MacMILLAN(2005) Market Busters 144 Slywotzky, A. and Richard W.(2005) ( ) Shane, S.A.(2005) ( ) (2001) EMBA (2004) (2005) (2005) ~ (2006) 15 (2006) IEK-ITIS (2004)Kano (2006) (2000)iO : (2005) - (2002) Kano - (2004) (2005) ONLINE (2006) 95

102 13-16 (2006) (2000) (2004) PCB (1996) (2004)

103 Afuah, A. (2003), Innovation management: strategies, implementation and profits.,2nd ed., P.70, Oxford University Press. Henderson Rebecca M. & Kim.B.Clark (1990), Architectural Innovationthe Reconfiguration of Exiting Product Technologies and The Failure of Established Firms. Administrative Science Quarterly, 35, pp Hill & Ireland & Hoskisson (2004), Strategic Management: Competitiveness and Globalization-Concepts, South Western, a division of Thomson Learning, Inc. Kim W. C. & R. Mauborgne (1997), Creating New Market Space, Harvard Business Review 77, 1-2, pp Kim W. C. & R. Mauborgne (2000), Knowing a Winning Business Idea-When you see one, Harvard Business Review, 9-10, pp Kim W. C. & R. Mauborgne (2002), Charting Your Company s Future, Harvard Business Review, 6, pp Kim W. C. & R. Mauborgne (2005), Blue Ocean Strategy: From Theory to Practice, California Management Review, 47(3), pp Kim W. C. & R. Mauborgne (2005), How to Create Uncontested Market Space and Make the Competition Irrelevant, Harvard Business Review, No.4,Vol.13. Linda S. S. & T. Dave(2005), Let Go to Grow, Prentice Hall. Tushman M.C. A. O Reilly (2004), Harvard Business Review 32,May,pp Van der Hoop, J.H.(1992), Global LogisticsWhat s So Specific? Council of Logistics Management :Annual Meeting Proceeding, pp

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<4D6963726F736F667420576F7264202D20B3ECA473B0B7A8ADACECA7DEAAD1A5F7A6B3ADADA4BDA5712D313031312E646F63> Graduate Institute of Business Administration Providence University Revised: 09/05/2006 喬山健康科技公司戰機劃破長空, 總部在清泉崗機場旁的喬山健康科技公司, 在 2005 年的營運成果, 亦如戰機般一飛沖天, 達到 2 億