Blue Ocean Strategy
Rather than competing within the limits of the existing industry or attempting to steal clients from rivals W. Chan Kim and Renée Mauborgne are proposing Blue Ocean Strategy: formulating contest market space that builds the competition beside the point.
As per to Kim and Mauborgne in the HBR of October 2004, contending in crowded industries is no way to maintain high performance. The real opportunity is: to make blue oceans of contest market space.
Competitive Advantage critique
As might be expected competition is significant. But by concentrating on competition and competitive reward, as per Kim and Mauborgne, scholars, business firms and consultants have dismissed two very crucial- and far more remunerative views of strategy:
- To discover and formulate blue oceans.
- To feat and defend blue oceans. These disputes are very different from those to which strategians have committed most of their care.
In blue oceans demand is made, rather than struggled over. There is rich opportunity for growth that is both rapid and profitable.
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