Red Ocean Traps reveals the downsides of conventional industry thinking 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 sheds light on the limitations of traditional industry mindset. It challenges the prevailing notion that competition is the only way to succeed in the market. This way of thinking keeps companies locked in fierce battles with rivals, leading to a crowded marketplace where everyone is fighting for the same customers. As a result, companies end up competing on the same factors like price, features, and quality, making it difficult to stand out and achieve sustainable growth. Red Ocean Traps highlight the dangers of engaging in head-to-head competition, where companies are constantly benchmarking themselves against their competitors and focusing on beating them at their own game. T...
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