Blue Ocean Strategy introduces a new way of thinking about competition from "summary" of Blue Ocean Strategy with Harvard Business Review Classic Article “Red Ocean Traps” (2 Books) by W. Chan Kim,Renée A. Mauborgne
In the world of business, competition is often fierce as companies fight for market share in crowded industries where rivals engage in cutthroat competition, leading to shrinking profit margins and limited growth opportunities. This traditional approach to competition is what the authors refer to as the "red ocean," where companies vie for a share of existing market space, competing head-to-head with similar products and services. In contrast, the Blue Ocean Strategy challenges this conventional thinking by advocating for a new approach that focuses on creating uncontested market space, or "blue oceans," where competition is irrelevant because the rules of the game are yet to be established. This strategy involves shifting the focus from beating competitors to making them irrelevant by creating new market opportunities...
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