Competition is an inevitable component of business strategy. Traditionally companies have engaged in a neck-to-neck race in a bid to attain profitable and sustainable growth. They strive for differentiation, battle to dominate market share and fight to retain competitive advantage. While this has been the norm, in today’s overcrowded markets, such head-on competition results in a “red ocean” where rivals fight for an already disappearing profit pool. Renée Mauborgne and W. Chan Kim in their book “Blue Ocean Strategy” challenge the traditional concepts of competitive market strategy. The core message the authors put forth is that competing within these red oceans is not likely to bring about a profitable growth… Read More
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