Prepare your word file to answer the following questions-- on your "practice" venture a. What is...

Prepare your word file to answer the following questions-- on your "practice" venture

a. What is meant by the term "a blue ocean (business) venture"?

b. How would you modify "your" venture to come close to a "blue ocean"? This may require tweaking the product/services.

c. Examine the website "Bplans.com". It contains quite a few sample business plans. Identify the business plan that may be "close" to

"your" business venture. Paste the weblink. (you may not find an exact match in the sample plans listed. Select a "similar" one)

Expert Solution

A.

A blue ocean venture is the business initiative that offers product and services that are unrivaled in the market or a new market is created without any competition. So, it is the innovation driven business venture that creates products, new to the market, but capable to satisfy the demand that is not yet fulfilled by any other products in the market. So, a blue ocean or non-rivalled market is created.

B.

My venture offers app development and the venture will tweak the app development technology in such a way that one app will be used for all the different platforms such as iOS, Android and windows without any changes. It will create a market that is populated by the many app development companies, but nobody with the technology to make a universal app, used at all the platforms. So, a new marker or blue ocean is created.

C.

The sample business plan similar to my venture is as follows:

https://www.bplans.com/asp_software_developer_business_plan/executive_summary_fc.php

Rahul Sunny answered 1 year ago

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