Blue Ocean Strategy

A strategic approach developed by W. Chan Kim and Renée Mauborgne that challenges organizations to create uncontested market space (blue oceans) rather than competing in existing crowded markets (red oceans). Blue Ocean Strategy involves developing new value innovations that make competition irrelevant by creating and capturing new demand. This approach aligns with the RBPM framework by encouraging organizations to consider both the performance potential and risk implications of pursuing new market opportunities, ensuring that innovation is pursued within appropriate risk appetite parameters.