How Using The Right Strategy Made M'sia's Passport & Prison Systems More Efficient

January 10, 2018

The Global Entrepreneurship Community (GEC) 2017 Summit brought together aspiring and veteran entrepreneurs alike. This event was a place for them to gain further insight on approaching a market and honing their business skills.The main focus of the first day? Shifting businesses from a competitive and bloody red ocean to a blue one.Professor W. Chan Kim and Renee Mauborgne took the stage to give their two cents. Co-directors of the INSEAD Blue Ocean Strategy Institute, they recently published the bestselling "Blue Ocean Shift: Beyond Competing".In a red ocean, it creates a situation where supply exceeds demand. Therefore, competition grows as the suppliers and companies race in a heated battle to best each other.Often, this results in a crowded market and companies having to fork out more money to pay for bigger campaigns and higher engagements with their target market.By: Tee May Tan