Detailed Blue ocean strategy on Facebook .

Expert Solution

Blue ocean strategy is a concept of business model where companies try to start ventures in areas where no other organization has been before. Facebook has been a prominent example of this. They ventured into an area which was not being used by others, which had no takers and where few companies had shown interest. Their strategy was to create a social networking platform where individuals of all society can meet, communicate and exchange ideas and network better. They started with ease of sharing media over platform based approach. In blue ocean strategies, there are few competitors and few entrants. In such cases, with a proper strategy and vision in place backed by technology and talent, ventures can grow to achieve the targets they have set in place. For facebook it was the same. When they first ventured in to this area, there were only few social media platforms and there were only few which focused in the youths in particular. The easy to use system and continuous innovations helped facebook to get ahead in this area. Even though others tried to enter this market, facebook being a first mover got advantage and has been able to sustain it over long time.

keosha answered 1 year ago

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