WomenEntrepreneur.com August 3, 2010

Value innovation occurs when a company implements a strategy that decreases costs, eliminates competing factors and offers something new the market has never seen. This strategy from Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne results in what the authors call a “blue ocean.”  Those who operate traditionally, fighting and drawing blood by competing on cost and factors that already exist, are in a “red ocean.” These competitors are required to totally rework their thinking just to keep up with the innovator. The concept of creating products using the blue ocean strategy changed the way I conduct my business, and I believe it will change yours.

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