Blue Ocean Strategy is about making competition irrelevant by creating new market space from "summary" of Blue Ocean Strategy, Expanded Edition by W. Chan Kim,Renée A. Mauborgne
The essence of Blue Ocean Strategy lies in its ability to shift focus away from competing in existing market spaces towards creating new market spaces. Instead of battling head-to-head with rivals in crowded, red oceans, organizations that adopt a blue ocean mindset seek to explore uncharted waters where competition becomes irrelevant. By venturing into these untapped territories, companies can unleash new demand and open up opportunities for growth that were previously unseen. The key to making competition irrelevant lies in creating value for customers in innovative ways that set a company apart from the competition. This involves redefining industry boundaries and challenging conventional wisdom to unlock new sources of value for both buyers and sellers....
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