Blue Ocean Strategy, developed by Chan Kim and Renée Mauborgne, encourages organizations to venture into uncharted markets instead of competing in existing ones, termed red oceans. This approach allows businesses to establish a monopolistic presence and secure profits before others enter. Highlights include successful cases like low-cost airlines, Cirque de Soleil, and streaming platforms which have effectively created new markets. Their insights emerged from a study of numerous strategic business moves across decades, underscoring a transformative approach to strategy.
Developed by Chan Kim and Renée Mauborgne, blue ocean strategy suggests focusing on new markets rather than competing directly in saturated ones for maximum opportunity.
Examples of blue ocean strategy include low-cost airlines that cater to budget travelers, Cirque de Soleil reinventing circus, and streaming services like Netflix creating new entertainment markets.
#blue-ocean-strategy #business-innovation #market-creation #competitive-advantage #strategic-management
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