STRATEGIC MANAGEMENT

Strategic Management

Strategic Management

An emerging concept in the context of business strategy is the blue ocean strategy. As a prerequisite to understanding this theory, it is important to be aware of the two divergent elements known as the red ocean strategy and the blue ocean strategy, which together form the basis of the business universe. The business universe consists entirely of the market space and the red ocean refers to the many industries which are in existence- the known market space. In contrast, the blue ocean strategy signifies the industries which are presently nonexistent and unattained by competition- the unknown market ...