What are the principles governing the blue ocean strategy?

There are six principles governing the Blue Ocean Strategy. Take note of the following: Principle 1. Reconstructing Market Boundaries In the reconstruction of market boundaries, there is a need to find new opportunities and possibilities beyond the established conventions or outside the norms of existing industry and market.

Is blue ocean strategy infallible?

And like other strategic approaches, Blue Ocean Strategy isn’t infallible, nor is it applicable in every business situation. The Blue Ocean Strategy was (and is) a novel approach to targeting market dominance. It steers clear of competition by creating uncontested market space.

Why should a company implement blue ocean strategy?

A company will have more success, fewer risks, and increased profits in a blue ocean market. ClearPoint Strategy offers a comprehensive platform that can help your organization effectively implement Blue Ocean Strategy by simplifying strategic planning and performance management.