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HBR's 10 Must Reads on Strategy (including featured article “What Is Strategy?” by Michael E. Porter) by Renee Mauborgne, W. Chan Kim, Michael Porter, Harvard Business Review

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Blue Ocean Strategy

by W. Chan Kim and Renée Mauborgne

A ONETIME ACCORDION PLAYER, stilt walker, and fire-eater, Guy Laliberté is now CEO of one of Canada’s largest cultural exports, Cirque du Soleil. Founded in 1984 by a group of street performers, Cirque has staged dozens of productions seen by some 40 million people in 90 cities around the world. In 20 years, Cirque has achieved revenues that Ringling Bros. and Barnum & Bailey—the world’s leading circus—took more than a century to attain.

Cirque’s rapid growth occurred in an unlikely setting. The circus business was (and still is) in long-term decline. Alternative forms of entertainment—sporting events, TV, and video games—were casting a growing shadow. Children, the mainstay of the circus ...

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