Blue Ocean Strategy
Blue Ocean Strategy is a strategic framework developed by W. Chan Kim and Renée Mauborgne that argues companies should create uncontested market space — "blue oceans" — rather than competing in existing, crowded industries — "red oceans." The framework provides analytical tools (the Strategy Canvas, Four Actions Framework, and Eliminate-Reduce-Raise-Create Grid) for systematically identifying how to make competition irrelevant by creating new value-cost frontiers and capturing new demand.