Blue ocean strategy may be perceived as involving high risk. How does blue ocean strategy address the issue of risk?
Above all, blue ocean strategy is about risk minimization and not about risk taking. Of course, there is no such thing as a riskless strategy. Any strategy, whether red or blue, will always involve risk. Nonetheless, when it comes to venturing beyond the red ocean to create and capture blue oceans there are six key risks companies face: search risk, planning risk, scope risk, business model risk, organizational risk, and management risk. The first four risks revolve around strategy formulation, and the latter two around strategy execution.     More…
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- Blue ocean strategy may be perceived as involving high risk. How does blue ocean strategy address the issue of risk?
