Red Ocean Traps points out the risks of overly focusing on 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
The concept of Red Ocean Traps highlights the dangers of becoming too fixated on competing within existing market spaces. When companies solely concentrate on outdoing their rivals, they inadvertently limit their growth potential and innovation opportunities. This tunnel vision can lead to a stagnant and overcrowded marketplace where differentiation becomes increasingly difficult. By constantly battling for market share in crowded industries, organizations risk becoming trapped in a cycle of imitation and incremental improvements. This not only stifles creativity but also hinders the ability to create new value for customers. In the pursuit of beating competitors at their own game, companies often overlook the possibility of exploring uncontested market spaces where competition is irrelevant. Focusing solely on competition can also result in a race to the bottom in ter...
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