Many businesses fall into the trap of obsessing about their competition. As a result, they try to win over the same customers with a similar product and an undifferentiated strategy. Unfortunately, this approach leads to cutthroat competition that destroys profit margins and limits future business growth.
Blue Ocean Strategy by W. Chan Kim & Renée Mauborgne can help you avoid this fate by making the competition irrelevant. It explains how to create and capture new demand, break the value/cost trade-off, and redefine market boundaries to create a leap in value for buyers. It’s a must-read for business leaders that want to create or sustain healthy profit margins.
BLUE OCEAN STRATEGY BOOK SUMMARY
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Content by Rick Kettner
Produced by Kyle Trienke
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