![]() One way to seize opportunities is to implement the Blue Ocean Strategy that allows businesses to create a Niche market to get out of the red ocean competition so that competition becomes irrelevant. Ĭompanies need to constantly work on detecting proactively new market opportunities. īlue Ocean is a strategy to outdo the competitors by offering innovative features of a product they neglected so far, which is the successful chance that leads to entrepreneur products and markets which enable the companies to attract new customers and achieve growth in sales, profits and market share. That is because the rules of the game haven’t been set yet. Thus, the competition shall be irrelevant. ![]() In the new market, the company shall not have anyone to compete with. The strategy aims to create a new marketplace that hasn’t been discovered byīlue Ocean Strategy is a strategy that aims to create a new marketplace that hasn’t been discovered by anyone nor any competitor before. ![]() This approach encourages companies to move from fierce competition in red ocean markets, to create value in uncontested market space which is called “Blue Ocean”. In 2005, Kim and Mauborgne presented a non-conventional strategic approach which they called it “Blue Ocean Strategy”. Thus, companies must be responsive to the business strategy implemented and create business opportunities that can generate profits. Accelerated technological advances, intense competition, change in lifestyle and customers demands, and globalization are the main forces that lead companies to move from saturated red ocean markets, to create uncontested market space in the Blue Ocean of innovation. īusiness competition among organizations has led to major changes. Nowadays the world witnesses accelerated changes in the business environment such as technological advances, fierce competition, and globalization.
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