This document discusses blue ocean strategy, which involves creating new market space and making competition irrelevant by focusing on value innovation. It outlines key aspects of blue ocean strategy such as reconstructing market boundaries, using analytical tools like the strategy canvas and four actions framework, and formulating a blue ocean strategy that addresses adoption hurdles and achieves exceptional buyer utility at an accessible price point with attainable costs. It also discusses executing blue ocean strategy through tipping point leadership and overcoming hurdles to strategy execution like fair process.