Blue Ocean vs. Red Ocean Strategy (Overview with Examples) | blue ocean and red ocean strategy
Plentymorefishinthesea?Itdependsontheocean.Oratleastthat’swhatcompaniesthatusetheblueoceanstrategywouldtellyou.In2004,BlueOceanStrategybyW.ChanKimandRenéeMauborgne,causedwavesinthebusinessworld.Theirideawassimple:whycompeteformarketsharewhenyoucancreateyourown?Thisguidewillcovereverythingyouneedtoknowabouttheblueoceanandredoceanstrategies,providerealexamples,andshowyouhowtoexecutethesestrategiesinyourorganization.TL;DRBlueoceanisabusinessstrategyfocusingoncreatingnewmarketspacesratherthancom...
Plenty more fish in the sea? It depends on the ocean. Or at least that’s what companies that use the blue ocean strategy would tell you.
In 2004, Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne, caused waves in the business world. Their idea was simple: why compete for market share when you can create your own?
This guide will cover everything you need to know about the blue ocean and red ocean strategies, provide real examples, and show you how to execute these strategies in your organization.
TL;DR Blue ocean is a business strategy focusing on creating new market spaces rather than competing in existing ones. A red ocean is an existing market with many competitors, while a blue ocean is a market yet to be discovered with no competitors. Best for companies with a serious commitment to aligning their efforts and prioritizing transparency Blue ocean redefines how businesses can look at success and offers a unique approach to growth. Companies must consider ...