Last semester was the first time I read about Blue Ocean Strategy in the Harvard Business Review and it really got me thinking. Was it just applicable to industries and their strategies ? Or could the same be extrapolated to the realms of everyday life?
To those of you, who do not know what Blue Oceans are, here’s a TL;DR : Business universe consists of two distinct kinds of spaces : red and blue oceans. Red Oceans represent all the industries in existence today—the known market space. Companies compete with their rivals to increase market share, in turn cutting profits and resulting into reduced growth rate. Blue Oceans denote all the industries not in existence today—the unknown market space, untainted by competition. In blue oceans, new demand is created rather than fought over. There is ample opportunity for growth that is both profitable and rapid.
Those interested in reading more about how to create…
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