Blue Ocean Strategy

A Blue Ocean Strategy is a buisness idea that is so far out there that there isnt any competetion for it because its never been done and is new and innovative something that combines two things to draw from both crowds an example of this is Cirqu du Solei which combines the circus concept along with theatre which then brings both crowds so if you want to see entertainment that can be creative and intellectual it is perfect along with no one else can pull it off like they can so there is no competietion to worry about. The opposite of this blue ocean is a Red Ocean which is an ocean of all the same types of buisnesses which just undercut each other and try to win customers with prices and nothing new and innovative as though they are just trapped in the harbor and can only come up with simple ideas and attack other companies resulting in red in the water people that can achieve a blue ocean are thinking outside of the harbor using big ideas and are very creative. A Red Ocean company could be Coca-Cola and Pepsi which are practically the same drink and just undercut each other.

The Six Principals of the Blue Ocean Strategy are
1:Reconstruct Market Boundries
which is just doing things that aren't typical for that brand of product or buisness
2:Focus On The Big Picture Not The Numbers
Always focus on making your idea more innovative and less about how much money you can make from it and dont get lost in statistics
3:Reach Beyond Existing Demand
Think about future customers and not just about now
4:Get the Strategic Sequence Right
Think about the things that make a product work and its not just about creating something new and not being able to sell it but think about how much you can make it for who will buy it things like  this.
5:Overcome Key Orginizational Hurdels
Make good excutive desicions and dont over use resources when you dont have them make sure everyone is in a comfortable situation to some extent and be orginized
6:Build Execution into Strategy
You need to create trust in the company you have and have trust with all participants because a blue ocean strategy has a fair sized risk and everyone needs to know they might not acheive the full potential of a blue ocean strategy