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Blue ocean strategy

Published on December 31, 2015   7 min

Other Talks in the Series: Hot Topics

0:00
Hello. I am Dr. Ashok Kurtkoti. I am going to speak on Blue Ocean Strategy.
0:07
Coming to the current market situation, what has happened is the world has become a global village after liberalization in 1990. All over the world you find that there's a lot of competition. Competition is severe due to globalization, and it's no longer a monopoly situation. Companies are finding it hard to compete, and that's the reason for me to take this particular topic.
0:29
Now I'm coming to the Red Ocean. We have existing market space, industrial boundaries are well-defined, then we have cutthroat competition, and the growth and profits are restricted. It is exactly what, as I told you, is the current market situation. Today, we're finding it hard to compete with each other and that it's really possible for us to find out why Blue Ocean is created.
0:54
Now when you talk about Blue Ocean, it creates a new market space. Companies expand and grow across the boundaries. And competition is irrelevant in this case. We want to make competition irrelevant and make significant opportunities for growth.