Aysaac Gabrielle D.

Arnecillo BSCPE 301

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.]
From what I understand, by occupying an uncontested market space for your products, you are entirely
creating a new business or some type of service in that area which renders out other companies to have
the same set of services which you have. This is also called a monopoly, it’s not that board game but in an
industry, monopoly is the exclusive control of supply and sales of a commodity. It is a dominant position
for entrepreneurs and makes other competitors irrelevant. In short, by creating a new industry in a
marketplace, you gain no competitors, thus, it is already understood as a blue ocean since there are no
way for competition.

2. How will the Four (4) Actions Framework help an entrepreneur in pursuing a venture?
The four actions framework can help entrepreneurs to pursue a venture through creating a new blue ocean
industry. The ERCC strategy is one of many ways for entrepreneurs to define the difference between
innovating and committing to a new company. The four actions framework is especially essential to
control value innovation by tampering with the future value curve, thus, breaking the value-cost trade-off.
The value curve is also important for comparing the entrepreneur’s strategies against your competitors.
Having a difference can provide you have a goal and focus on your strategies. Another helpful use for the
ERCC is assessing whether your money is used for good decisions to maximize profits and minimize
problems.