1.

How does occupying an uncontested market space help the entrepreneur to

break out of red oceans? [Although the answer can be found on Page 2 of 08
Handout 1 (first paragraph), provide other possible answers.]

To break out of red oceans you need to offer benefits that competitors consider
irrelevant or over-unique, make a combination of benefits for your customer of different
product categories or lines of business, search for other buyer groups or other
segments for your product, find a new appeal, the process of discovering and creating
blue oceans is very structured, and entrepreneurs are engaged in the process of
reordering market realities in a fundamentally new way, and focus on powerful
commonalities in what buyers value instead of focusing on customer differences.

2. How will the Four (4) Actions Framework help an entrepreneur in pursuing a
venture?

The four (4) Actions Framework will help in pursuing the venture of the
entrepreneur through eliminating, reducing, raising, and creating to adjust in the new
industry standards. We will act with all of them and create a new value curve that will be
our new Blue Ocean. We need to at least adjust to cope up with the new trends in
business world to keep pur business running.