A blue ocean stratagey is being completly origional, taking risks and creating something no one has thought of.by building a company completely out of the ordinary a being a blue ocean stratagey will make you more valueable as a business as well as the only business like that out there. Companies like the Cirque de soleil are a blue ocean strategy.
A red ocean strategy is where your business is exactly like the rest and every business is striving to only be the best of what there is to offer. Although being a red ocean strategy can make you succesful the competition would be a constant battle to be the best. A red ocean strategy would be any fast food restraunt . ( McDonalds, A&W, Burger King) these are all the same copncept .
The six principles of the blue ocean strategy is :
1.Reconstruct market boundries
2.Focus on the big picture not numbers
3.Reach beyond the exisiting demands
4.Get the strategic sequence right
5.Overcome key organizational Hurdles
6.Build Execution into startegy
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