Question: According to Blue Ocean Strategy: 1- Define Value Innovation. 2- What are the ten traps of a red ocean? (bullet point: explain each trap in

According to Blue Ocean Strategy:

1- Define Value Innovation.
2- What are the ten traps of a red ocean? (bullet point: explain each trap in 1 sentence no more)
3- What is the 3rd stage of the sequence of blue ocean Strategy? In your own words, explain how that stage relates to Chapter 4: Cost leadership (Strategic Management Competitive Advantage).
4- How do you arrive at a cost structure that is profitable and hard for potential followers to match? (p131-p137)
5-What is the profit model of the blue ocean strategy? How does Ikea manage to succeed in meeting its target price?

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