09/03/2024
Most businesses make the mistake of focusing on their competitors when developing strategies. A “blue ocean” business, on the other hand, focuses on how to create new value for customers, the base of which may be people who are not yet customers of this business’ core industry. The term “blue ocean” is derived from the idea that an area of unexplored market space is like the clear, blue waters of an undisturbed portion of ocean. The opposite of the blue ocean would be the “red ocean,” where excessive competition has churned the waters bloody with rivalry.
Excerpt from: "Summary of Blue Ocean Strategy: by W. Chan Kim and Renée A. Mauborgne | Includes Analysis" by Instaread Summaries. Scribd.
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Summary of Blue Ocean Strategy by W. Chan Kim and Renée A. Mauborgne | Includes Analysis Preview: Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant is the 2015 update to the classic business stra
