Applying Blue Ocean Strategy

May 15, 2009 11:09 am Diana Business, Diana's Diary

In doing business, you need to apply Blue Ocean Strategy if you want to succeed. Blue Ocean Strategy means that there are no stiff competition unlike Red Ocean and you explore uncharted boundaries where you can prosper without competition. But you need to bear in mind that after some time of doing business where others have not treaded, there will eventually be copycats that will flourish and copy your exact business model like sourcing for the exact brands that you currently do and follow your very exact methods to win a slice of the market share competing with you. This is the time to again apply Blue Ocean strategy and branch out to do different, perhaps more efficient methods that you competition cannot catch up. Copy cats can also be from your former supervisors or staff who have learnt the secrets of your trade and start the same business as you and eat into your profits.