Conducting a successful business in a competitive business environment requires innovative strategies that target identifying and meeting customers’ felt needs in an efficient and cost- effective way. W. Chan Kim and Renee Mauborgne coined the terms Red and Blue oceans to denote the market universe. Red oceans are all the industries in existence today- the known market space, where industries boundaries are defined and companies try to outperform their rivals to grab a greater a greater share of the existing market. Cutthroat competition turns the ocean bloody red. Hence the term ‘red’ oceans. Blue oceans denote all the industries not in existence today- the unknown market space, unexplored and untainted by competition. Like the ‘blue’ ocean, it is vast deep and powerful- in terms of opportunity and profitable growth.
Using the ideas from the red and blue ocean concepts I will encourage my church to explore new areas of service. In reaching this objective we must be able to identify and meet the felt needs of the community thus making it more relevant.
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