Nano Housing by Suresh Haware

Author:Suresh Haware
Language: eng
Format: epub
Publisher: Bloomsbury Publishing

Source: Author

12.3 Strategy for Decline Phase

Now comes the real role a business leader needs to play if he wants to safeguard his business. You will definitely enjoy the growth phase, but the moment there is an onset of the stability phase, you should be alarmed that it is a signal for an approaching decline phase—it is just waiting for its opportune time. The moment the time is right, decline phase will start in no time. There is a well-known strategy to be adopted in this situation and it is known as Blue Ocean Strategy34. It says that when you introduce a new business or product in the market, the ocean is blue. That means the market will welcome the business or product. But by the time it reaches the decline phase, the ocean starts becoming red because of strong competition. So, the strategy is that if you want your business to grow, you have to create another blue ocean. The key here is innovation. You innovate your business or product keeping in mind the changed market scenario and the ensuing competition. This involves research and development work. When you are ready with an innovation, you can enter the market with a new product or business. You will find here that there is no competition as the product is new. It will start rising again following the growth phase till the ocean becomes red again. Then again you have to create another blue ocean. Let me tell you here that the concept of nano housing is a fantastic innovation as it has successfully created its new blue ocean and it still has no competition. The history and behaviour of prevailing real-estate industry is such that nano housing will survive for a very long time. It will not only survive but will help the real-estate industry to stabilise and grow again.

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