Earl David Landicho BSCPE301

Instructions
Briefly answer the following with no more than five (5) sentences. (2 items x 10 points)
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.]
2. How will the Four (4) Actions Framework help an entrepreneur in pursuing a
venture?

Answers:
1. Another way that occupying an uncontested marketplace can help an entrepreneur
to break out of red oceans is for companies to stop competing each other, I have
read that the only way to beat the competition is to stop trying to beat the
competition, as red oceans started increasing rapidly, managements has to be more
concerned with the blue oceans than the current managers accustomed to. You
need to formulate principles such as reconstructing the markets boundaries, focusing
on the big picture, not just the numbers, reaching beyond the expected demand,
getting your strategy on point. After formulating principles, you now have to execute
them, in order to execute your principles, you need to overcome organizational
hurdles or obstacles, next is build execution into strategy. On my perspective, all
companies were once blue oceans, they just turned red because of the people who
controls it.

2. With the use of the Four Actions Framework (Eliminate, Raise, Reduce, Create) it
can help the entrepreneur to pursue its venture by helping their company to start or
invent a new product that could expand the company and make it successful the four
actions can help the company by eliminating the negative or bad practices in the
company or possibly decrease the impact of their product to the customers, next is to
reduce jeopardy when releasing a new product such as keeping it’s name clean, the
next action is to raise or innovate more on generating ideas for a new product, last is
to create the product from the ideas you and your company has made, all this is
important for the entrepreneur into venturing with the blue ocean strategy. The four
actions is essential for the improvement and for the innovation of the company, it is
also developed by the blue ocean strategy. Meaning it is very reliable, and by
following it or using it for the improvement of your company, it will surely lead you to
the blue ocean.