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  • Entrep 08 eLMS Activity 2 ARG

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    Occupying an uncontested market space can help entrepreneurs break out of red oceans in several ways: 1. It develops demand for products/services that others are unaware of. This makes the competition less relevant and focuses on establishing a market rather than competing directly. 2. It allows companies to test their boundaries and consider alternative techniques for creating new demand. 3. Most importantly, it gives firms a chance to reinvent or innovate the market in a way that breaks constraints and propels growth into new areas, exploring all options to create blue oceans. The Four Actions Framework can help entrepreneurs in four key ways: 1. It identifies the value elements that should be enhanced, reduced,

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    Occupying an uncontested market space can help entrepreneurs break out of red oceans in several ways: 1. It develops demand for products/services that others are unaware of. This makes the competition less relevant and focuses on establishing a market rather than competing directly. 2. It allows companies to test their boundaries and consider alternative techniques for creating new demand. 3. Most importantly, it gives firms a chance to reinvent or innovate the market in a way that breaks constraints and propels growth into new areas, exploring all options to create blue oceans. The Four Actions Framework can help entrepreneurs in four key ways: 1. It identifies the value elements that should be enhanced, reduced,

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    28 views1 page

    Entrep 08 eLMS Activity 2 ARG

    Uploaded by

    Merlin Su
    Occupying an uncontested market space can help entrepreneurs break out of red oceans in several ways: 1. It develops demand for products/services that others are unaware of. This makes the competition less relevant and focuses on establishing a market rather than competing directly. 2. It allows companies to test their boundaries and consider alternative techniques for creating new demand. 3. Most importantly, it gives firms a chance to reinvent or innovate the market in a way that breaks constraints and propels growth into new areas, exploring all options to create blue oceans. The Four Actions Framework can help entrepreneurs in four key ways: 1. It identifies the value elements that should be enhanced, reduced,

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    of 1

    Mc Charlie D.

    Ugay 11/18/21

    The Entrepreneurial Mind

    08 eLMS Activity 2

    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.]

    - Occupying an uncontested market area assists the entrepreneur in breaking out of red seas since
    an uncontested marketplace develops demand for itself that is unknown to others. Also, this makes the
    competition more relevant, and the emphasis is on establishing and not competing. Occupying an
    uncontested market area also wants to test a company's boundaries, which will allow them to consider
    another alternate technique for breaking out of red seas. Furthermore, the fundamental element of
    owning an uncontested market is that the firm must know how to reinvent or innovate the market and
    break through the restrictions that will propel it forward explore all the choices and to assist you in creating
    a blue ocean and breaking free from the red ocean as a result, occupying an uncontested market position
    will undoubtedly assist the entrepreneur in breaking out of red oceans.

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

    -The four actions framework might assist an entrepreneur in developing a business since it is a
    useful tool for facilitating and identifying the value aspects that are generated, enhanced, diminished, or
    deleted. These four actions framework will serve as a guide and will be utilized to reconstruct value
    elements to create a new value curve or strategic profile to assist an entrepreneur in developing a business.
    Furthermore, the four steps framework will assist an entrepreneur in unleashing the potential of a new
    blue ocean. Without a four-step structure, an entrepreneur would be misled by anything and may abandon
    a company. Overall, the four activities framework may assist an entrepreneur in pursuing a business
    because it has been established and tried by several sole proprietors, many of whom are now successful in
    life.

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