Chan Kim W. Renée Mauborgne. Blue Ocean Strategy: From theory to practice

Adapted from BLUE OCEAN STRATEGY: How to Create Uncontested Market Space and Make the
Competition Irrelevant by W. Chan Kim and Renée Mauborgne.For twenty-five years, competition has been at the heart of corporate strategy. Today, one can hardly speak of strategy without involving the language of competition: competitive strategy, competitive benchmarking, building competitive advantages, and beating the
competition.
Of course competition matters. However, by focusing on the strategies of competition, companies and scholars have ignored a very important—and, we would argue, more lucrative aspect of strategy. This involves not competing, but making the competition irrelevant by creating a new market space where there are no competitors — what we call a blue ocean.