Advantages Of Blue Ocean Strategy

Blue ocean strategy is a business concept that focuses on doing business along the line where there is no competitor or little or no competition; rather it seeks to create new opportunities for business instead competing for space in the already saturated horizon. It does this by either creating entirely new product in a market or reinventing already existing product in such a unique way that will meet the needs the of the market in a way that has not existed before. It adds value to the market while it seeks to cut cost. The creation of Blue Ocean will make the creator a leader in such business enterprise since his product will not be competing with any similar product.
A number of business organizations have used this strategy with immense results. For instance we have MTN Ltd, a mobile telecommunication company. Before the advent of the company telecommunication in Nigeria was solely operated by NITEL and the service was far from satisfactory. Callers would have to wait in a long queue in order to make calls at the calling booths. It is only the rich that could afford to have telephone at home. However when MTN Ltd came to Nigeria, it operated the telecommunication business in a way that is totally different from what NITEL offered. It operated a wireless telecommunication system and the populace patronized it that
For instance, the proponent must have financial and personnel strength and commitment to push his new ideas otherwise some bigger companies may hijack the idea and reap the benefit. Examples of this could be seen in places where a person has a business idea, makes a proposal to a company, the company claims he is not interested the eventually implements the idea. Also, the proponent of blue ocean must be ready to create new ideas otherwise his blue ocean may end up becoming a red ocean due to those who will imitate his ideas and thereby create considerable