Question

How does the Blue Ocean Shift book discuss the systematic reconstruction of market boundaries and its relevance to contemporary business strategies?

The Blue Ocean Shift book discusses the systematic reconstruction of market boundaries through a process called the Six Paths Framework. This process requires team members to conduct in-depth, on-the-ground research to generate actionable insights. The goal is to identify new opportunities where others only see saturated markets, or "red oceans". This process is time-consuming but is considered the most rewarding part of the Blue Ocean Shift. The relevance to contemporary business strategies lies in its innovative approach to finding untapped market spaces, thereby creating new demand and making the competition irrelevant.

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The next step in a Blue Ocean Shift involves systematically reconstructing market boundaries. This requires team members to really delve into on-the-ground research, so that they can generate insights that can be acted upon. In order to identify new opportunities where others see only red oceans, the team will systematically work through the Six Paths Framework, with each Path revealing key insights into the existing constraints and hidden opportunities in the industry. This is the most time-consuming step in the Blue Ocean Shift, but ultimately is the most rewarding.

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