Start An Online Business in a Four-Step Strategy

Business Strategy Articles : Start An Online Business in a Four-Step Strategy by Kathleen Krueger

Let's review a four-step-strategy, or approach, on what must be done to succeed online. This formula is very simple, easy on how to learn what must be done, and clear about what it will demand of you to start on-line. A realistic view of individual investment of time, pursuit, and interest isn't one that people pay enough attention to. By explaining what to look for online, this will be a good way for you to learn how to start an online business and what you must do to make it happen.

1. Perspective. When you are looking at how to start an online business, you'll first want to look at a particular field which you are interested in, and evaluate interest. Very rarely does a person become excelled or an expert in an area they just can't stand. On the other hand, your main passion may exist in a saturated field. You'll then want to gauge how much competition there is in unison with how effective you think your efforts, resources, and commitments are in breaking into the area. Theoretically, when deciding to start an online business, you usually want to look for a field in which there is less competition, then affordably market, and hopefully dominate that niche. The tools you'll need are a website, a domain name, and a Hosting Company.

2. How are you going to make your Money? Sounds cold, but you need to answer this question. There are many different ways that you can make money on a website. Let's focus on what that website is going to do for you. You can decide to sell products online, which you can find through wholesale distributors. You are able to advertise on your website and sell advertising using programs such as Google's Adsense. You can even sell your products through storefronts at Yahoo, eBay, or Amazon websites. You'll need to decide who will be your money processor, such as Paypal.

3. Test. Once you design your website, you can sit back and wait for the sales to come in. But why? The Internet is a dynamic place. You want to test and retest the different ways in which you have your pages and website built, see where your traffic is coming from, and see how your website content seems to attract traffic. Do not be surprised if web- features you thought were outstanding at first later become changed months later, only to be edited yet again.

4. Marketing. The final key when looking at how to start an online business is how you decide to market your website. One, there are many companies which you are able to buy traffic from at a very cheap price and this can be a good way to supplement your natural search engine traffic. The way to build natural search engine traffic is through content and developing back links. Back links are links from other websites to yours so that when search engine search bots are indexing webpages, they will find the links to your web site and index your pages. Two, many hosting companies are now offering $25.00 to $50.00 free introductory marketing coupons through Google, Yahoo, etc. for their new customers and first-time account holders. Three, start up a Blog. It used to be that a company without a website was looked upon with suspicion. Now, it seems a company without a blog is regarded as the odd-man-out. This is a powerful way you can make informal contact with your customers, and let them get to know you. Wordpress is the way you want to go. You can use your own domain name, host it yourself (complete control over the content), and keep those indexing spiders coming back.

If you work on serving your niche, develop a good site and contents, its only natural people will want to read what they find and continually return to your website. This is a simple formula in your search on how to start an online business. If you want to know and learn more:

Download a free ebook : How To Build Your Internet Empire One Site at a Time

About the Author
Kathleen Krueger is a part-time entrepreneur who manages MarginsXs Ebooks website and blog.

Source: http://www.goarticles.com/cgi-bin/showa.cgi?C=764010

Develop Your Business Strategy And Keep Up With Your Uk Competitors

Business Strategy Articles : Develop Your Business Strategy And Keep Up With Your Uk Competitors by IC

Developing an effective strategy is crucial for a in the UK or anywhere for that matter, we live in a business world where competitors always want to stay one step ahead of everyone else and it is your duty as a small business owner to do proper market research in order to come up with innovative ways to promote your business venture or simply improve ideas your competitors may have developed. http://business999.mynew.ws/business/business-cards.php There is nothing wrong in launching similar marketing strategies to the ones your competitors are running, you must always remember to give it a unique twist or improve the original concept, if the strategy is proven to work then in can perform even better by adding a few custom changes. Remember that copying an idea is not the right way to market your business, you need to differentiate your product and build your unique brand.

It is every small business owner's dream to create their own niche and capitalize on this exclusive monopolization, unfortunately any product, service or spin you give to your business can be duplicated or copied by any of your competitors so it is necessary for you to create a good image and reputation which will set you apart from more generic type of businesses, just think about it as if you were to choose buying an identical product from two different stores which carry the same item, would you buy the product from the store which has a bad appearance or from the one which has a better presentation? The answer is obvious.

Being constantly updated about the changes your particular market goes through can help you prepare for market changes which may affect your budget or the way you do business, so don't get caught of guard and be left out of the loop by these changes. Being aware of news which concern your niche can give you an advantage by learning from others what works and what doesn't, the idea is to gather as much information about your competitors as possible in order to find their weak and strong spots in order to create

an even better business strategy.

Regardless of the type of you run, it is always a good idea to take advantage of the latest technology available to streamline and automate repetitive tasks. Building your brand, differentiating your products and improving profitable business models can help you shape a productive business strategy.

Article Source: Article Beam - a service of A1 Web Server Web Hosting

www.zerostrategy.com is a UK marketing blog designed to address several topics concerning UK businesses providing valuable

About the Author
http://business999.mynew.ws/business/business-cards.php

Source: http://www.goarticles.com/cgi-bin/showa.cgi?C=759272

Every Blue Ocean Will Eventually Turn Red; Create An Unfair Advantage Instead

Blue Ocean Strategy Articles : Every Blue Ocean Will Eventually Turn Red; Create An Unfair Advantage Instead By Dan Herman

The vast red and blue oceans of the marketing world tsunamied into our awareness and vocabulary a few years ago, when two INSEAD professors, W.Chan Kim and Rene Mauborgne, claimed that competition can be rendered irrelevant.

Their book, Blue Ocean Strategy, heralded the news to marketing managers and CEOs all over the world: after years and years of surviving in red bloody oceans, swarming with murderous competitors, finally there's a better alternative! In red oceans, executives captivated in a conception-cage of competitive strategy business thinking, have been rivaling head to head with their competition over the same consumer segments doing exactly the same things, only better and cheaper in order to offer customers a better cost/value tradeoff in order to convince them to stick around with their wallets open. In the process, these executives wore out their own companies and their profits were ground to dust. Now, the Blue Ocean enunciation, based on long years of research, claimed that both serenity and profitability can be amply found in Value Innovation, which creates, via a new business model and new products, a "Virgin territory devoid of me-too brand propositions and cutthroat pricing" (BusinessWeek).

Let us consider an example of a company which supposedly followed Kim and Mauborgne's Blue Ocean strategy:

Casella Wines, an Australian winery, decided to "de-complex" wine for the sake of intimidated unpretentious adults. It decided to create new wine drinking rules, and to make a fun wine, sweet and fruity, to suit any taste. The chosen brand name was Yellow Tail; the label was highly recognizable, the selection targeted the mainstream (Chardonnay and Red Shiraz), and the price just above budget: $6.99.

The result? The brand quickly became the number one imported wine into the USA, without a promotional campaign or consumer advertising. In just two years it emerged as the fastest-growing brand in the histories of both the Australian and US wine industries. Casella Wines even grew the overall market. Genuinely Impressive.

The big "Blue Ocean" promise took over the business world, but also aroused a great wave of criticism, partially justified; with the strongest claim being that the text carries no novelty beyond Ted Levitt's old differentiation directive, remolded with the trendy belief in the importance of innovation. Personally, I think differently. First, Kim and Mauborgne talked about differentiation and innovation on the levels of strategy and business model, while most traditional occupation with differentiation and innovation has been focused on the level of products or brands. But more importantly, the Blue Ocean thinkers honed a major observation regarding the nature of business competition.

In sports competitions, competitors are compelled to completely defined rules while striving to achieve a superior result. In the business world, competitors also strive to achieve a better result of the same type: a larger share of the consumer's wallet. However, the competition does not restrict participants to any specific actions. The contrary is true. And yet, it is in this aspect exactly that Kim and Mauborgne are wrong and misleading, upon claiming that competition can be rendered irrelevant. Even in the case of Yellow Tail, which obviously turned many non-wine-consumers to active buyers, clearly when consumers are buying Yellow Tail they are buying other types of alcohol that they would have purchased in its absence. The prospect of raising demand infinitely simply does not exist. This is where the Blue Ocean Strategy finds its limitation. Since you always take sales away from someone (whether a direct or an indirect competitor), and being that you will always be surrounded by businesses striving to increase sales, once your Blue Ocean Strategy works, sooner or later someone will copy or even improve your already successful model.

One must credit the writers that they are not blind to this fact. In an interview with W. Chan Kim posted on www.businessinnovationinsider.com on October 2005, he said very openly: "After a while the first copycats will arise, competing on the very same value points as you. That's completely normal; however it forces the entrepreneur to find a new strategy every several years."

In other words, the most brilliant BOS will grant you with no more than a limited, relatively peaceful, period of time. Does this mellow promise of the BOS express maximal possible achievement? Naturally, you can guess that my answer is no. Introducing the Unfair Advantage. An UA is a situation in which you become unique and adored by your customers, while competitors do not imitated you.

Beyond the not so simple challenge of creating a differentiated value innovation, the critical question is: what can be done which is immune from imitations? Apparently the principle is simple as it is unexpected: when your innovation and differentiation are improving on benefits considered central to customers in your industry, fully expected from a product or service such as yours (I call it On-Core Differentiation), then sooner or later imitations will mushroom, no matter how big your innovation. Why? Exactly because the benefit is considered relevant by your consumer. On the other hand, when your innovation and differentiation offer further benefits which are not considered relevant in your category (I call it Off-Core Differentiation), there is a good chance of avoiding imitations, even after years of success.

This kind of differentiation, when it manages to excite consumers, is that which creates the Unfair Advantage. Why will you not be imitated? Because what you offer is perceived by your competitors as weird, irrelevant, or overly-unique, such which is pointless to imitate. This is the big secret. This is your competitor's trap.

There are two main types of Off Core Differentiation: Imported Benefits, and Peculiar Particularity. In many cases we find a combination of the two. The first type happens when you import a benefit which is important to consumers in other product categories, but are not considered relevant in yours. Umpqua Bank turned its branches into a unique combination of packaged goods stores, and community clubs, in order to provide consumers with benefits of a pleasant buying experience as well as a social neighborhood hangout, to which they go on a regular basis for various activities and social gatherings. Umpqua is today the largest independent bank in the Pacific Northwest, and it grew in 15 years from four to 120 branches, which is an imaginary growth rate in the banking industry. And the best part is that no one even tried to imitate them.

The other type is a unique style which is not typical to the category. Take Toblerone, the Swiss chocolate brand. It has been producing its triangular alp-summit look alike chocolate bars since 1908. No one has imitated them. The Body Shop chain has grown to 2,000 shops in 50 states, to become the second largest cosmetics chain in the world. It is an active crusader fighting for environment protection, underprivileged rights, human rights and animal rights, worldwide. It fine tunes its acquisition policy, employee volunteering requirements, marketing communication budgets etc, for serving these purposes. Again, no one has imitated them.

So I'm challenging you now: do not settle for just the Blue Ocean Strategy, go out there and get yourself an Unfair Advantage.

About the Author: Dr. Dan Herman, a globally renowned strategy consultant, an author and a lecturer, is the author of "Outsmart the MBA Clones: The Alternative Guide to Competitive Strategy, Marketing, and Branding"
( http://www.outsmart-mba-clones.com ).

Source: http://www.isnare.com/

Permanent Link: http://www.isnare.com/?aid=230135&ca=Business+Management

Find the Best Business Opportunity: Go High Demand, Low Competition

Blue Ocean Strategy : Find the Best Business Opportunity: Go High Demand, Low Competition By Jim Hudson

More than 17 million Americans own their own business. Most of these businesses are one-person firms. And many are high income business opportunities operated from home.

Heavy traffic, exorbitant fuel prices, corporate downsizing, difficult managers and supervisors, lack of control over one’s work life, and the search for more and more meaningful way of expressing our individuality are just a few factors motivating our search for a top home-based business.

But finding a small business idea that will be a money maker, rather than one that will drain financial resources, requires considerable research, patience and effort.

Avoid highly competitive, saturated small business markets. They are unlikely to result in the work from home business success story you’re seeking. Better to chart a course to blue ocean waters, than to swim with sharks in a blood-red sea of hyper-competition.

Of course, important factors in considering the best business to start from home should include your interests, knowledge, skills, start-up capital, available equipment and other business assets, as well as your physical capacity.

But your top home-base business choice ideally should reflect more than what you bring to the equation. Your decision should follow a thorough search for and careful consideration of one or more products or services for which there will be a very strong customer demand. And that high demand should be complimented by a scarcity of businesses currently meeting that demand.

You should strive to be “first to market” with a new or newly differentiated product or service. This doesn’t necessarily require creation, invention or sale of a brand new product or service. It usually, however, does involve forehead-slapping innovation: thinking beyond the box about new ways to better meet customers needs or solve their problems.

Think about Sony and how that company re-examined an old product – the radio – in a new light. Transitor radios had been on the market for decades. But the Sony Walkman focused on simple problems: how to walk, jog or sit on a park bench while enjoying music and news, without holding or clipping on a cheap looking battery-operated radio, and without shoving an annoying plug into one’s ear canal. Just as important, Sony created their product with a sense of style and flair. It became stylish to show off one’s Walkman while pursuing the then relatively new and fashionable jogging and power-walking craze. Walkmans sold like hotcakes, and Sony designed a multitude of Walkman versions targeting various customer sub-segment needs and preferences.

Consider other companies that have found smooth sailing in blue, uncompetitive waters by looking at a product or service in a fresh new light. Each of these firms was featured in Blue Ocean Strategies, a recent book by Chan Kim and Renée Mauborgne on methods to help companies gain new insight into their markets and create winning, high income, and high profit business ideas:

Cirque du Soleil brought spectacular, often stupefying circus-quality performances to dinner theater settings in vacation destination cities like Las Vegas.

Curves homed in on women seeking fitness and weight loss in small, neighborhood, strip mall-based stores. Each franchise store features an encircled series of mechanical exercise stations.

Starbucks' owner believed that coffee shops near homes and places of employment had the potential to reap a fortune in profits.

Authors Kim and Mauborgne describe how blue ocean thinking sharply contrasts with red ocean notions:

1. WHY compete in existing market space? Blue ocean companies create UNCONTESTED market space.

2. WHY beat the competition? Blue ocean companies make the competition IRRELEVANT.

3. WHY exploit existing demand. Blue ocean companies create and capture NEW DEMAND.

4. WHY make traditional value/cost trade-offs. Blue ocean companies BREAK the value/cost trade-off.

5. Why align the whole system of your company's activities with its strategic choice of differentiation or low cost. Blue ocean companies align the entire system of your company's activities to pursue both innovation AND low cost (cost differing from price, which you companies with little or no competition can often increase).

Contrast a few red ocean industries with the blue ocean thinkers that broke away from the pack:

Airline industry price wars led to a raft of bankruptcies and marginal profits for survivors. Southwest Airlines trailblazed a new market: air travel’s speed, combined with the low cost and flexibility of driving.

For decades, golf equipment industry players competed for a greater share of existing golf customers. Callaway Golf innovated a golf club called "Big Bertha," giving frustrated dubbers and air ballers poised to abandon the sport a large head.

Cosmetic industry competitors thrashed about within a red ocean with high-priced models, costly advertising, and hope-filled (but often over-hyped) promises their customers would regain their youth and beauty. The Body Shop innovated its way to a blue ocean that endured more than a decade, simply by marketing functional cosmetics that solved women’s problems, rather than appealing to their emotions.

The wine industry flooded its market with thousands of brands competing on the basis of costly hardwood barrels, overly-nuanced tannin attributes, and legacy branding. Casella wines innovated with Yellow Tail, a wine that created a blue ocean in a sea of red by stripping an elite industry of its deliberate efforts to confuse customers, and building a fun, uncomplicated brand: a wine those previously intimidated out of the market would enjoy.

Each firm created cost savings AND enhanced value. Cost savings can often be found in eliminating and reducing the very factors an industry bases its competition on. Value is elevated by introducing elements heretofore absent from the industry. And as a market responds to new value, it creates brisk sales volume, economies of scale emerge.

As you think about each of your own potential business ideas, think about these companies. You, too, can focus on needs or problems that have yet to be recognized by competitors now in the marketplace.

Can the product achieve a leap in utility with readily achievable changes? Can an existing product or service be applied to an entirely new market? What about costs and prices, can they be substantially cut? Or is there is an untapped market among consumers who don’t mind paying a premium for a premium version of a product or service (like coffee). Perhaps your new company can meet a business need of a growth-rocketing blue ocean company, riding its success wave?

Time to start innovating! What are your high income, blue ocean ideas?

This article may be reprinted so long as the URLs included below is published in the reprint.
Article Source: http://www.articlesbase.com/business-opportunities-articles/find-the-best-business-opportunity-go-high-demand-low-competition-84607.html

About the Author:Jim Hudson is a Vietnam veteran who began his writing career in 1969 as a Green Beret Magazine report-photographer in Vietnam. His firm, Blue Ocean Company, helps small business owners create blue ocean markets, and research and develop their business plans, marketing plans, and promotional e-newsletters. To get information on the fastest growing, high income and high profit businesses in the U.S. and the world, along with free special reports, marketing resources and other information on small business, visit
http://www.blueoceanstore.com Jim Hudson CEO, Blue Ocean Company (Discover Scorching Hot Business Ideas) 1437 S. Lewiston St. Aurora, CO 80017 720-690-8442

Redirect Resources from Your Cold Spots

Blue Ocean Strategy - Redirect Your Resources from Your Cold Spots

Leaders need to free up resources by searching out cold sports. For example, in the subway story, Bratton found that one of the biggest cold spots was processing criminals in court. On average, it would take an officer sixteen hours to take someone downtown to process even the pettiest of crimes. This was time officers were not patrolling the subway and adding value.

Bratton changed all that. Instead of bringing criminals to the court, he brought processing centers to the criminals by using "bust buses" - roving old bused retrofitted into miniature police stations that were parked outside subway stations. Now instead of dragging a suspect down to the courthouse across town, a police officer needed only escort the suspect up to street level to the bus. This cut processing time from sixteen hours to just one, freeing more officers to patrol the subway and catch criminals. (Source: Blue Ocean Strategy, W.Chan Kim and Renee Mauborgne, 2005)

In selling company, there are many resources, including account mangers, pre-sales, technical consultants. These resource can be relocated from an account to another account or moved from an industry to another industry. This will be based on current and future selling opportunities.

If you are Managing Director or Project Manager, don't forget to redirect your resources from "Cold Spots" to "Hot Spots".

Business Gifts - An Effective Strategy

Business Strategy Articles : Business Gifts - An Effective Strategy by Gareth Parkin

The 21st century business world is marked by enormous competition and rat race. Everyday new products and competitors are introduced in the market and to stand steady in this corporate scenario, business houses big or small are trying out newer strategies and marketing plans to improve their business position.

Promotional gifts especially business gifts are an effective means to attract traffic and grow your business. Market surveys and researches depict that conventional advertising techniques like magazine or media ads can only make a negligible number of the population aware of the business brand where business gifts speak for the company and work more positively to create brand awareness and attract target customers towards the brand.

Business gifts are now things used by most businesses whether it is a big fish or a budding one. Business gifts thus occupy an integral part of the business scenario nowadays. The act of gift-giving and business gifts is not at all a new one but its popularity and indispensability has been felt only in this century.

There goes a famous saying, "to open a shop is easy but to keep it running is difficult". Already established business organisations also feel dire necessity of using business gifts and attracting and impressing customers and business clients to keep pace with the growing and existing competition among the crowd of the newcomers. For new businessmen the importance and significance of business gifts need no mention. The basic marketing and advertising strategy of the new business can be taken up and worked out with business gifts embellished with the company logo and message.

The effectiveness of business gifts can be related with man's inherent and innate nature of feeling happy with gifts. Free gifts are always liked and admired by people irrespective of age and gender and when they serve some functions in their mundane lives the gifts become priceless. An umbrella or a coffee mug or a leather laptop bag with your brand name reminds your customers and clients about you and your brand name regularly hundred times a day and the contact details and the message on the gifts help them get back to you easily without any pain of searching.

Grow your business and plan your marketing strategy effectively with quality and practical business gifts. An array of business gifts is just a click away. Browse through the online portals and catalogues of several companies specialising in the supply of promotional items and corporate gifts. Ideasbynet is the one stop shop where you will find a large selection of business gifts of varying tastes and prices. Choose the appropriate business gifts matching your needs and fitting your pocket. Personalise the gifts with nice, warm and heartfelt messages that will reach your target audience with a new flair. For more information, log on to www.ideasbynet.com.

About the Author
Gareth Parkin is the co-founder of Ideasbynet, the UK's largest online source of business gifts and promotional gifts company based in the north of England. He has taken the UK gift market by storm by the application of modern business thinking and the latest search engine marketing techniques.

Source: http://www.goarticles.com/cgi-bin/showa.cgi?C=755501

Internet Marketing Strategy - Reviewing your business plan

Business Strategy Articles : Internet Marketing Strategy - Reviewing your business plan by Deanna Mascle

It is essential for your business that you have a route map which shows exactly how you will achieve your business goals. Without a plan you are planning to fail.

The plan that you develop needs to be a living document that is constantly checked and updated. If not done on a regular basis then there is really no point in generating it in the first place. It is critically important that you know that you are actually achieving the plan. If not, then you will need to adjust the plan to accommodate any revisions that occur.

The very basics in a good business plan is to detail the tasks and systems that you will use to progress the plan. You will need to review your plan on a monthly basis initially to ensure progress is being made as planned. You may choose to change the frequency of the review at a later stage when the initial kinks have been ironed out and the planned progress is being achieved.

The initial goals in the plan are usually small in terms of financial profits, but it is just as important that they be achieved on schedule as the larger goals that occur at a later date. Proving that the plan is working effectively in the early stages is essential in demonstrating that the overall plan is achievable. So, check that every detail of your plan is being achieved.

Not everything works out as planned, so you must find out the answers to the following questions:

1. - Did you achieve the financial goals for the period within the timeframe allocated? Maybe you achieved some, but not all of them.

2. - Did the systems that you used to complete the tasks work well? Maybe some worked very well, but others were not so successful.

Analyse the answers that you obtain. For those systems that worked successfully, continue working with them for the future tasks. For those items that did not meet the targets set it will be necessary to evaluate why they did not work effectively. What went wrong? Was the system used flawed? What did you need to do to actually complete the task? You will need to adjust future tasks of the same type to accommodate the revised procedure adopted.

Continuous improvement is essential in a good business plan. Adjusting and tweaking the elements within the future plan based on your experience can only improve the effectiveness of the plan and generate confidence that it can be achieved. Plan your work and work your plan and you will be well on the way to achieving your goals.

About the Author
Learn more about internet marketing strategy at http://establishyourepresence.com/

Source: http://www.goarticles.com/cgi-bin/showa.cgi?C=753533

A Business Strategy That Could Change The Way We Do Business

A Business Strategy That Could Change The Way We Do Business by Zigfred Diaz

A friend and I talked about a unique business strategy over a cup of coffee one afternoon. I was so intrigued by the idea so I did a little bit of research on the subject. This strategy is what is known as the Blue Ocean Strategy. The Blue Ocean Strategy is a corporate strategy that aims to tap unclaimed markets making competition irrelevant. The strategy is embodied in the book entitled "Blue Ocean Strategy" by Professors W. Chan Kim and Renee Mauborgne and Published by Harvard Business School Press.

According to the book, "Blue Ocean" refers to an untapped market, wherein there is only little or no competition at all enabling anyone to claim the market for his own. On the other hand "Red Ocean" refers to a market where competition is very high. In this situtaiton, the market is considered as very crowded already since almost everybody is producing the same type of service and the same kind of goods.

The Blue Ocean strategy is simply to innovate something; something that makes people give a higher value for a certain product or service. Since doing this would require additional cost, the cost that is incurred by the value added is reduced by eliminating product or service features that the market does not really care about.

To further drive home the point, it is necessary that a Philippine based or a "local" example be given. An example on how the Blue Ocean Strategy was used here in the Philippines can be seen by studying the strategic moves of the Gokongwei group of companies who owns Mobile phone company, Sun Cellular and airline Cebu Pacific among other companies.

A new untapped market was opened by Sun Cellular by adding value to products already found in existing markets. They achieved this by making calls within their network free. This is a very wise move considering that the market for mobile phones has already been saturated by both Smart and Globe. As a result, people are buying into this "new market." This is evidenced by the fact that most people in the country have a sim card and a cellphone for Sun Cellular and another sim card and a phone for other networks. Others have two sim cards in a dual sim phone.

What people really want, is to "fly" and in order to do this fares have to go down. This is exactly what Cebu Pacfic did in the Airline industry. They created a "new market" by slashing down their fares, since this is really what people want. People don't really care about a a hot meal or a newspaper. What they want is to fly. Eliminating these other cost, helped Cebu Pacific give value to what people really want, forcing people to buy into this "new market."

In order to survive, traditional Business strategy would normally want to "crush the competition." However Blue Ocean Strategy dictates that we "Create new markets with little or no competition." "Strategic thinking" is resorted to instead of the traditional business approach of "Strategic Planning." In Blue Ocean strategy we do not talk of "cutting prices" to capture a market, Instead we refer to it as adding "value" to products and services to claim an untapped market.

The critiques argue that the principles and ideas that are said to be unique to the strategy can also be found in other traditional business strategies. The say that Blue Ocean Strategy has already existed a long time ago.

However this line of thinking is not justified. A new theory is always built upon something that has already been accepted for a long time as a scientific principle or even theory. (As similarly as the theory of relativity rest upon the foundations of the principles of electricity, gravity, thermodynamics etc.) Our way of discovering something is built upon the knowledge that has been universally accepted by the majority. No matter what the critics say, it is certain that Blue Ocean Strategy is here to stay. In the years to come, it will surely have an effect on the way future entrepreneurs, managers and leaders will think and do business.

About the Author
Know more about business strategy. Visit the blog of Zigfred Diaz. Learn more about other diverse topics such as law, leadership, management, entrepreneurship, finances, investments, technology, internet marketing, blogging, Theology and life.

Source: http://www.goarticles.com/cgi-bin/showa.cgi?C=743350