Three avenues of innovation for new market creation and growth.

Purpose: The process of redefining an existing industry problem, and then solving the redefined problem is the essence of the "blue ocean strategy" approach, which generates a more balanced blend of disruptive and nondisruptive growth. Design/methodology/approach: The authors' "A Growth Model of Market-Creating Innovation Strategy" presents a framework that shows three paths and how each triggers a different balance between disruptive and nondisruptive growth. Findings: Between solving an existing industry problem and identifying and solving a brand-new problem or creating a brand new opportunity outside industry boundaries lies the path to 'blue ocean strategy.' Practical implications: Leaders ideally choose a path to market creation where their current business is not disrupted by the initiative and where economic growth and social good are not trade-offs. Originality/value: The article offers a unique review of the less disruptive path—blue ocean strategy—between solving an existing industry problem and identifying and solving a brand-new problem or creating a brand new opportunity outside industry boundaries [ABSTRACT FROM AUTHOR]