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Just search new here. Welcome to the HBR Idea Cast from Harvard Business Review.

I'm Sarah Green.

Today I'm talking with Renee Maborne,

professor at Envyod and co-author with W. Chan Kim

of the best-selling and reissued Blue Ocean Strategy.

They're also the authors of a new article in HBR called Red Ocean Traps.

Renee, thank you so much for talking with us today.

Thanks, Sarah.

So many of those listening may already know, but some may not know, what is Blue

Ocean strategy? So Blue Ocean strategy is about how can any company or organization break out of the red ocean a bloody

competition or existing market space which tends to be very crowded and competitive these

days and create uncontested market space where you make your competition irrelevant.

So it's really about how do you create uncontested market space and align your value, profit, and people proposition to achieve that

around differentiation and low cost and thereby you create a win for the market, a win for the company, and a win for your employees as well.

So in the article especially you're identifying several traps that managers fall into when they're

trying to do this to create an execute a blue ocean strategy.

...