Blue Ocean Strategy Summary

Blue ocean is an entrepreneurship industry term created in 2005 to describe a new market with little competition and less budget to start and avoid mistakes that destroy new companies .

and the term refers to the vast "empty ocean" of market options and opportunities that occur when a new or unknown industry or innovation appears.

The term blue ocean was coined by insead business school professors Chan Kim and Renee Mauborgne in their book Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant (2005). The authors define blue oceans as those markets associated with high potential profits.

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