(A) What makes Blue Ocean strategy imperative in planning your business start-up? (B) Identify a real company that has successfully created a Blue Ocean & explain your response
(C) Are Blue Oceans only relevant for start-ups? Why or why not?

Answer and Explanation:

Nowadays start-ups ate driven by innovation which is termed blue ocean strategy. With blue ocean strategy there is low competition and low prices and a sort of monopoly as the business is able to open a new market space through product differentiation, uniqueness and innovation

Airbnb is an example of a blue ocean strategy startup that has attained Unicorn level. They have been able to do this because of their innovative business model that connects people that wish to rent a home or space with people who are renting

Blue ocean strategies are not only relevant for start-ups as they could be applied to other businesses too since any business can create market space using innovation. However they are crucial for start-ups who wish to create market and survive

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