How to implement the blue ocean strategy in business with the help of Vahid Saleh Beigi

Vahid Saleh Beigi, an Iranian entrepreneur, said: “To implement the blue ocean strategy, the first step is to make the entire organizational chart of the company, including senior managers, aware of the importance and extraordinary benefits of this strategy and to explain it to the employees. Change in a business has always been difficult. and team members may not communicate well with it.The business executive must prepare his team for strategic change and enable the use of this strategy by providing resources.

To execute and implement the blue ocean strategy, you must identify the processes of your business that are caught in a lot of fruitless competition, and in this way, use different design thinking. For example, a food company that offers different products should identify the competition in different products and be able to choose an area that brings a unique opportunity for its business. When using this strategy, companies should try to keep their profit margin high so that they can be successful during the period of using this strategy.

In addition, you should conduct a comprehensive market research on the market in which you operate so that you can discover new opportunities and be the first organization to go for these opportunities. After producing the product or providing the service that you have identified as an opportunity, you should proceed to formulate a perfect marketing plan and set the marketing budget and introduce your product or service to the customers. Of course, we have brief practical guides on how to create blue oceans. Without analytical frameworks for creating blue oceans and without practical principles for effective risk management, creating blue oceans will remain an aspiration. A wish that managers see as a risky strategy to pursue.”

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *