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What is Blue Ocean Strategy?

Management Dictionary
Entrepreneurship, Strategic Management

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The so-called “Blue Ocean” strategy, proposed by W. Chan Kim and Renée Mauborgne, aims to:
– move away from crowded markets with limited growth prospects,
– seek more profitable markets while avoiding direct competition with rivals.

A blue ocean is an untapped and profitable strategic space, largely free of competition.

Kim and Mauborgne propose a methodology called ERAC, which stands for Eliminate, Reduce, Raise, and Create new factors. These four actions must be carried out simultaneously.

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Keywords

blue ocean, blue ocean strategy, markets, Strategy

Author(s)

BESANGER Serge

Professeur

INSEEC-U

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