Anyway, I will not give up until my student understand. Here you go, my dear.
What is BOS?
BLUE Ocean Strategy (BOS) provides a systematic approach to making the competition in business irrelevant.
The aim of BOS is not to outperform the competition in the existing industry, but to create new market space or a Blue Ocean, thereby reducing competition.
There are several key points of BOS:
These frameworks and tools are designed to be visual in order to not only effectively build the collective wisdom of the company but also to effectively execute through easy communication.
How does Blue Ocean strategy fundamentally differ from Red Ocean strategy?
In simple terms, Red Ocean strategy is about how to out-pace rivals in existing market space; it is a market-competing strategy.
In contrast, Blue Ocean strategy is about how to get out of established market boundaries to leave the competition behind; it is a market-creating strategy.
The Star today carried a few articles on BOS here, here and here.