Tell me more about the book, Blue Ocean Strategy, by W. Chan Kim and Renée Mauborgne

Blue Ocean Strategy, by W. Chan Kim and Renée Mauborgne, is an international bestseller and is used by companies around the world to create uncontested market space and make competition irrelevant.

It was first published in 2005 and has since been updated in 2015 with new insights and examples.

The book introduces the concept of creating “blue oceans” of uncontested market space, rather than “red oceans” of cut-throat competition.

The authors outline a systematic approach to creating blue oceans, which they call the “Four Actions Framework”, which involves redefining the playing field, focus on the big picture, and look beyond the industry’s existing boundaries.

The authors also discuss how to create value innovation, which is a way of creating maximum value for customers while simultaneously creating minimum costs for the company.

They also examine how companies can create effective strategies for seizing new opportunities and creating blue oceans, and discuss how to sustain these strategies over time.

The book provides numerous case studies and examples of companies that have successfully implemented blue ocean strategies.

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