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What is Blue Ocean Strategy?
What is Blue Ocean Strategy?
Blue Ocean Strategy was developed by professors W. Chan Kim and Renée Mauborgne. It is the method of creating an entirely new area of the market in order to be the first and/or only company and have no competitors. Red oceans are all of the industries that currently exist today. While blue ocean strategy carves its own path, it also means there aren’t benchmarks from other companies.