The red ocean strategy represents the crowded and competitive market in which companies are constantly fighting for a slice of the pie. Chan Kim and Renée Mauborgne introduced the concept of blue ocean strategy in their 2005 book, “Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant.” The authors use the metaphor of the “red ocean” and the “blue ocean” to represent the state of the current market and the potential for creating new market spaces. This innovative approach to business strategy focuses on creating new markets and opportunities rather than competing in existing ones. One approach that has created significant opportunities in recent years is known as the blue ocean strategy. In today’s business world, competition is fierce, and startups are constantly searching for ways to differentiate themselves in order to stay ahead of the game. Blue Ocean Strategy: Your Approach to Competition and Innovation
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