In strategic management,the expression "blue oceans" refers to:
A)Radical innovation
B)The potential offered by uncontested market space
C)A key theme in the US Navy's strategic planning process
D)The ability to cut costs through moving production to offshore locations.

Question

Quizplus · Accepted Answer

The expression "blue oceans" in strategic management refers to uncontested market space where there is a potential for creating new demand and growth without having to compete with existing competitors. It involves creating new products or services that appeal to a new group of customers who are not currently being served by any existing players in the market.

In Strategic Management,the Expression "Blue Oceans" Refers To