In strategic management,the expression "blue oceans" refers to:
A)Radical innovation
B)The potential offered by uncontested market space
C)The campaign to reduce pollution in the world's oceans
D)Cost reduction through offshoring production

Question

Quizplus · Accepted Answer

"Blue oceans" in strategic management refers to the potential of uncontested market space, where companies can create new demand and generate profitable growth. This is in contrast to "red oceans," which represent crowded and highly competitive markets. Therefore, option B is the correct choice as it aligns with the concept of exploring new and untapped market opportunities. Options A, C, and D are not relevant to the concept of "blue oceans" in strategic management.

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