How do the theories presented in Blue Ocean Shift challenge existing paradigms or practices in the field?

A small business can use the key topics or framework covered in Blue Ocean Shift to grow by implementing the following strategies:

1. Identify a new market space: The book encourages businesses to look beyond the traditional target customer to a longer chain of buyers. This can open up new market opportunities.

2. Create value innovation: This involves creating a leap in value for both the company and its customers. It's about creating new demand and making the competition irrelevant.

3. Overcome key organizational hurdles: The book provides a systematic approach to overcome key organizational hurdles that stand in the way of a blue ocean shift.

4. Build execution into strategy: This involves aligning the key activities of a company with its strategic goal of creating a blue ocean of new market space.