A blue sky memo is like a map for a business. It's a document that contains ideas for how a business can improve or grow. It might include suggestions for new products and services or for changes to existing ones; ideas for improving processes or customer service; or plans for expanding into new markets or areas. The memo can also suggest ways for a business to become more efficient and cost-effective. By looking at the blue sky memo, a business can plan and map out how it can make improvements or move forward.