Importance of blue ocean strategy is about the stand your business by creating new demands and innovation. It is a business creation that runs in the uncontested market place for an unknown industry.
In blue ocean concepts, Value change immensely depends on Low cost with high-value creation.
Why is the blue ocean strategy crucial for every entrepreneur?
Blue ocean strategy creates a monopoly over a single field. Like, Google is the single identity as the search engine. No doubt, many companies like, yahoo and bing try to compete, but google provide value with extreme ease and low cost that every customer wants it. Google search, maps, drive are free for access which creates a blue ocean.
The graph of the blue ocean is Exponential. It means sudden inclination in business growth that crosses almost all red ocean competitors. Statistics make it clear that How facebook create and add value by creating demand and fulfil it. In 2009, Facebook worth about 7.7million that turn into 70.7 million within next 10Years.
The blue ocean strategy focus on innovation and customer satisfaction. On the other side, the red ocean follows trends and create comparative value.
It’s possible that after some decades, or years a blue ocean transforms into a red one. First, who steps into the blue ocean strategy about a particular subject. Be the first to take leverage. For example, Bill Gates create Microsoft window and introduce a new way to use a computer with friendly way. He introduced a new blue ocean that attracts various entrepreneurs. But gates take the most out of his discovery by leveraging the service at low cost.
Blue ocean is about to create the boundaries, focus on the long term. It raises the stamina of every entrepreneur to see about 10or 20Years from now.
Its focus on novelty in the world. We can see that the whole world needs a change from generation to generation. You add value through the creative way. You can stick or create a life long purpose which makes you a new bill gates or Steve jobs.
A entrepreneur can play the business irrespective of value-trade rules.