This work offers a summary of the book «BLUE OCEAN STRATEGY: How to Create Uncontested Market Space and Make the Competition Irrelevant» by W. Chan Kim and Renée Mauborgne.
W. Chan Kim and Renée Mauborgne are both professors of strategy and international management at INSEAD Business School, France. They are also Fellows of the World Economic Forum. In Blue Ocean Strategy, W. Chan Kim and Renée Mauborgne argue that the best way to beat your competition is, in fact, to stop competing against them.
In other words, when you go head-to-head against rivals for a share of the existing market, this is like competing in a «red ocean» - where the way you compete is by benchmarking your competition and trying to outdo them. A much better strategy is to look for «blue oceans» instead - untapped markets which nobody has ever targeted and which hold the potential for huge growth. In red oceans, your competitors set the agenda. In blue oceans, your competition becomes irrelevant.
If you wish to make your competition irrelevant, the guidance found in Blue Ocean Strategy will help you to get there.
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