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Swim toward wide-open markets

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in Leaders & Managers,Workplace Communication

You sometimes can succeed in business by avoiding competition and swimming for “blue oceans”: new areas of endeavor where competitors are scarce.

Organizations that have done that: Starbucks and Cirque du Soleil, which have captured demand for their products while creating demand at the same time.

But this competitive strategy is risky. Its success hinges on market research, intuition, risk-taking and the ability to focus on the big picture instead of numbers.

-- Adapted from Blue Ocean Strategy, W. Chan Kim and Renée Mauborgne, Harvard Business School Press.

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