So it’s really about how do you create uncontested market space and align your value profit and people proposition to achieve that around differentiation and low cost, and thereby you create a win for the market, a win for the company, and a win for your employees as well. SARAH GREEN: So Blue ocean strategy is about how can any company or organization break out of the red ocean of bloody competition or existing market space, which tends to be very crowded and competitive these days, and create uncontested market space where you make your competition irrelevant. So many of those listening may already know, but some may not know, what is blue ocean strategy? Renee, thank you so much for talking with us today. They’re also the authors of a new article in HBR called Red Ocean Traps. Chan Kim of the bestselling and newly updated and reissued Blue Ocean Strategy. Professor at INSEAD and co-author with W. SARAH GREEN: Welcome to the HBR IdeaCast from Harvard Business Review. For more, read their article, “Red Ocean Traps.” Chan Kim, of Blue Ocean Strategy, Expanded Edition (2015). Renée Mauborgne of INSEAD explains how a landmark idea is evolving.
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