Launch - Spring 2008 - (Page 19) Don’t compete with rivals — make them irrelevant! For decades, competition has been the heart of any business strategy. Now, entrepreneurial experts say the strategy has changed: Think differently so you won’t have to worry about the competition. This concept known as the “blue ocean strategy” became a successful book in 2005, “Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant,” by W. Chan Kim and Renée Mauborgne. The strategy is the result of a decade-long study of 150 strategic moves spanning more than 30 industries over 100 years. Its aim is not to outperform the competition in an existing industry, but to create a new market space or a blue ocean (as opposed to a red ocean infested with competing sharks), thereby making the competition irrelevant. STRATEGY By Kathryn Peterson launch spring 19
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