Blue Ocean Strategy by W. Chan Kim

Favorite Quote “Create. Don’t Compete.” — W. Chan Kim The Book in One Sentence Blue Ocean Strategy talks about a new type of business strategy that doesn’t necessarily rely on gaining a competitive advantage over your rivals, but on innovating your way out of the current market to create your own ocean of opportunities. Why should you read it? Humans are social animals. We love imitating and copying. It provides us with a sense of comfort. In business, this is fatal. If you want your startup or small business (or even your huge corporation) to be anything more than an “us-too” competitor in your industry, perhaps it’s time to invent your own market altogether. Don’t compete — lead! If you’re stuck in a tough market with fierce competition, this one’s for you. Key Takeaways A company must switch its focus from Red to Blue Oceans. The business canvas strategy allows you to define your company and focus on your core strengths. Making the competition seem irrelevant compared to your innovations is what the Blue Ocean strategy is all about.Related