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Questions are based on chapter 1 material. 1. What is meant by the phrase, the only way to beat the competition is to stop trying

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Questions are based on chapter 1 material. 1. What is meant by the phrase, "the only way to beat the competition is to stop trying to beat the competition"? Explain by defining and using the concepts of red and blue oceans. 2. What is meant by value innovation and why is it important? Explain in detail using your own examples. 3. Identify a company (different from any in the book) and briefly describe how it has successfully created a Blue Ocean Strategy

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