Summary of W. Chan Kim & Renée A. Mauborgne's Blue Ocean Strategy

Excerpt From Summary of W. Chan Kim & Renée A. Mauborgne's Blue Ocean Strategy



#1



The circus industry suffered from constantly decreasing audiences. The competition, in order to survive, had to lower their prices. Cirque du Soleil did not compete with the existing circuses, but created a new market space that made the competition irrelevant.



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To succeed in the future, companies must stop competing with each other. To seize new profit and growth opportunities, they must create blue oceans. Unfortunately, blue oceans are largely unexplored.