Did you know that the Blue Ocean Strategy is now very popular concept in business management? As a recent example, a Forbes list dated this year recently named it as the first business concept that could give you an edge. The Blue Ocean Strategy sold over 4 million copies since 2005 and is being taught in over 3,000 business schools and universities in 43 languages. Its authors, Professors Chan Kim and Renée Mauborgne were "chosen as two of the four leading thinkers in the 100 years of Harvard Business Review’s publication. In 2019, they were named the #1 Management Thinkers in the World by Thinkers50." Governments are also aware of what the Blue Ocean Strategy is. For example, "in 2009, Malaysia’s Prime Minister Najib Razak hosted a National Blue Ocean Strategy Summit to unite private sector leaders, civil servants, and key stakeholders to address economic and social issues. Today, more than 80 ministries and agencies in the country have adopted the strategy for more than 60 initiatives."
There are no limits or boundaries to which industry the Strategy may apply. This is what makes the concept holds its elegance. As more businesses use this strategy, we will be able to gather more data and advance our overall knowledge of the potential of the Blue Ocean Strategy. CEOs and managers should not be hesitating to ask how they could use this strategy to create growth for their business.
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