What is blue ocean strategy? Explain ‘The Four Actions

What is blue ocean strategy? Explain ‘The Four Actions Framework” Analyze the industry in which your company is operating, using ‘The Strategy Canvas’ tool.

Abstract of blue ocean strategy: The market universe is composed of two types of oceans: red oceans and blue oceans. Red oceans are all the industries in existence today; they are increasingly characterized by intense competition. Blue oceans are all the industries not in existence today; they are untouched and uncontested. To prosper in the future, companies need to go beyond competing; they need to create blue oceans. The issue is how to do so. This article presents a set of analytical tools and frameworks that can enable firms to develop blue ocean strategies