Blue Ocean Strategy – Making competition irrelevant
Corporations have long engaged in head-to-head competition in search of sustained, profitable growth. They have fought for competitive advantage, battled over market share, and struggled for differentiation. Yet in today’s overcrowded, and in many cases stagnant industries, competing in such a manner often leads to limited growth at the expense of one’s competitors, a zerosum game that leaves behind a bloody “red ocean”, which is unlikely to create profit table growth in the future.
In such a market environment, the obvious question is raised: is it possible for an organization to succeed by using conventional strategies in an effort to gain more of an existing market share? Or would it be more advisable to adopt a new, non-conventional approach to market its products? The authors of the book “Blue Ocean Strategy” W. Chan Kim and Renée Mauborgne, claim the latter.