![]() Characteristics And Importance Of The Blue Ocean Strategyīlue ocean strategy is a device to acquire uncontested market spaces by creating fresh demand.Here we’ll discuss the meaning of blue ocean strategy, blue ocean shift and some examples of blue ocean companies in detail. Blue ocean companies create new demand instead of fighting over a shrinking pool of profit and ensure rapid and profitable growth. It’s the unknown, untapped market space, not yet explored or tainted by competition. Apart from the existence of giant players, red oceans offer lesser profits, which further decrease when new players enter the market.īlue oceans are industries that don’t exist but may have a vast potential for profit. Red ocean organizations adopt red ocean strategies to gain control of a market that exists on limited demand. Lots of organizations operate here and the competition is cut-throat, earning it the name ‘red ocean’. Red oceans are industries that exist in the known market space. ![]() So, why not do it in a space with no competition? Why not explore the blue ocean, where no one else swims?įirst, let’s see what the red and blue oceans are. ![]() Even though there are no templates or guides, managers have to take the risk of working with newer ideas and strategies. Organizations have to experiment to make profits in a saturated market with high competition. ![]()
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