Blue Ocean Strategy

Key Takeaways

• 1.A revolutionary approach to business strategy focusing on creating uncontested market space rather than competing in existing markets.
• 2.The Blue Ocean Strategy involves creating new markets or categories of demand, rather than competing in existing markets.
• 3.The strategy involves eliminating or reducing competition by creating new demand, breaking the value-cost trade-off, and making the competition irrelevant.
• 4.The strategy involves using the Four Actions Framework (Eliminate-Reduce-Raise-Create) to create uncontested market space.
• 5.The strategy should focus on the big picture, not numbers, and should be aligned with value, profit, and people propositions.