Final answer:
The incorrect statement is that finding a Blue Ocean Strategy is relatively low risk, as such strategies involve significant uncertainty and investment. While the Blue Ocean Strategy can be beneficial for companies trying to survive by creating a new market space, it's not without its challenges.
Step-by-step explanation:
The question relates to strategy development in business, specifically the concept of a Blue Ocean Strategy. The incorrect statement among the options given is option b: Finding a Blue Ocean Strategy is relatively low risk. In reality, while the Blue Ocean Strategy aims to create a new market space where competition is irrelevant, finding and developing such a strategy carries significant risk due to the uncertainty and investment involved. It is not guaranteed to survive in the business environment, especially for companies at the brink of extinction looking to avoid fierce competition. However, if successfully implemented, it may indeed provide a lifeline for struggling companies, but there is still a substantial level of risk associated with the effort to carve out a new market segment.
Option a is true as Blue Ocean Strategy can indeed be a revitalizing approach for companies on the brink. Option c is also true since these strategies often require a considerable amount of time to formulate and execute properly. Lastly, option d is true as this strategy is particularly useful for companies seeking entry into new markets, aiming to create their own niche rather than joining an existing competitive field.