Blue Ocean Strategy introduces a fresh perspective on business competition:
Market Creation: Instead of competing in existing markets (Red Oceans), businesses create new markets (Blue Oceans).
Innovation Catalyst: Blue Ocean Strategy sparks innovation by challenging organizations to think beyond traditional market boundaries.
Reduced Competition: Companies employing this strategy often face less competition, leading to sustainable growth.
Analyze case studies such as Cirque du Soleil to understand how they embraced Blue Ocean thinking, carving out unique market spaces.