What does blue ocean mean?

blue ocean meaning in Law Dictionary

When an industry has a place for development. It absolutely was devised by Chan Kim and Renee Mauborgne.

blue ocean meaning in Business Dictionary

a phrase coined through the 2005 guide, The Blue Ocean Strategy, by W. Chan Kim and Renee Mauborgne that describes the options of vast, untapped marketplace spaces, or "Blue Oceans," that can be manufactured by expanding marketplace boundaries or establishing new companies.