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