Blue ocean innovation

Blue ocean innovation refers to the process or its outcome of creating something new that creates a new market space that was not in existence before. Blue ocean innovations target untapped market space and new demand creation that provide businesses with opportunities for highly impressive growth. According to the blue oceans theory, competition is not key and even irrelevant for blue ocean innovations since the rules of the game are not set and predetermined. The definition of blue ocean innovation may have implications or associations with the following concepts and terms:

• Associating blue ocean innovation with future foresight;
• Linking blue ocean innovations to disruptive innovations;
• Analyzing blue ocean innovations as case studies of strategic foresight and business intelligence;
• Associating blue ocean innovations with eco-innovations and sustainable brands;
• Analyzing blue ocean innovations as trendsetting forces​

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