The market universe is composed of two types of oceans: red oceans and blue oceans. Red oceans are all the industries in existence today; they are in… - W. Chan Kim

Struggling to stay ahead of your rivals? No need. Instead of trying to match or beat them on cost or quality, make the other players irrelevant--by staking out new market space where competitors haven't ventured.

The document normally kicks off with a lengthy description of current industry conditions and the competitive situation. Next is a discussion of how to increase market share, capture new segments, or cut costs, followed by an outline of numerous goals and initiatives. A full budget is almost invariably attached, as are lavish graphs and a surfeit of spreadsheets. The process usually culminates in the preparation of a large document culled from a mishmash of data provided by people from various parts of the organization who often have conflicting agendas... Executives are paralyzed by the muddle. Few employees deep down in the company even know what the strategy is.

Every company wants one, yet few companies have one: a compelling strategy.