Blue Ocean Strategy Paper 01/05/15 MKT/421 Blue Ocean Strategy – Introduction When a company is about to enter the market, they typically spend their time trying to create a strategy to overcome their competitors that already exist in the market. In the book Blue Ocean Strategy authors W. Chan Kim and Renée Maugorgne explain how to create your own blue ocean. A blue ocean is the complete opposite of the existing red oceans in the market that quickly drown a new company before they can gain
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Tiffany Betz Blue Ocean Strategy MKT 421 Professor Creig Foster September 22, 2014 Blue Ocean Strategy Blue ocean strategy is about reinventing rather than competing with others in the same industry. “Blue oceans denote all the industries not in existence today- the unknown market space, untainted by competition. In blue oceans, demand is created rather than fought over” (Kim, & Mauborgne, 2004). The blue ocean strategy opens opportunities for organizations, reduces competition
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Blue Ocean Strategy MKT/421 Blue Ocean Strategy The blue ocean strategy in marketing is a original tactic to establishing a consumer base. Instead of competing in a congested marketplace with prevailing establishments, a blue ocean strategy aims to form an original market segment that has no other present companies, or, in other words, finds or is able to create a target market with no competition at all. Since technology and globalization is ever changing or ever evolving, the significance
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commodities were once strategic resources that were used by companies to gain competitive advantages in the late 1800’s and early 1900’s. Carr goes on to explain that no companies base their business strategy on using electrical power and thus business now should transition away from basing strategy on IT. Carr continues with his argument that IT doesn’t matter by describing how the biggest risk with IT is overspending on unnecessary resources, creating a cost disadvantage. Carr outlines three
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GENERAL MANAGEMENT SUBMITTED TO: DR. K. ANAND REDDY SUBMITTED BY: NIRAJ KUMAR (ROLL NO.26) NIRANJAN KASHYAP (ROLL NO. 27) NITISH KUMAR (ROLL NO. 28) PHANIRAJ VARMA (ROLL NO. 29) PRATEEK KAPOOR (ROLL NO. 30) GENERAL MANAGEMENT Page 1 10 INNOVATIVE CONCEPT IN MANAGEMENT 1. Triple bottom line The triple bottom line refers to an accounting model in which environmental and social considerations are measured along with financial performance. The concept shifts corporate responsibility
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Why compete head-to-head when you can modify the rules? Unfortunately, Blue Ocean has yet to be integrated into the mainstream business processes of most companies. Rather most companies continue to pursue new sources of competitive advantage in head-on head competition. Perhaps because most companies lack the necessary transformational intelligence that is based on constant teaching and learning and the required power of empathy, which bring an increase level of sensitivity to signals changing
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authorities on innovation and business strategy. Mauborgne is also an expert in these areas and she holds the position of the highest placed woman on Thinkers 50, the global ranking of business gurus. Actually they both maintain the fifth position in this ranking together (full list here). This book is divided in to three different parts: * Part One: Blue Ocean Strategy * Part Two: Formulating Blue Ocean Strategy * Part Three: Executing Blue Ocean Strategy I'm going to introduce all the three
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A Short Summary of ‘Blue Ocean Strategy’ By: W. Chan Kim and Renée Mauborgne Red Oceans are all the industries in existence today—the known market space. In the red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Here companies try to outperform their rivals to grab a greater share of product or service demand. As the market space gets crowded, prospects for profits and growth are reduced. Products become commodities or niche, and cutthroat
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ARTICLE CRITIQUE ON BLUE OCEAN STRATEGY Pros: Blue Ocean strategy is often flexible, less competitive and moves towards the needs and wants of the customers and markets. It’s an excellent strategy for small- and medium-sized businesses. New markets are created to serve. Being the beginner in the industry the company or product has a great leverage of capturing the market and even being the price maker. This strategy is perfect for companies that know how to use their marketing and communication
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Mauborgne authors of BLUE OCEAN STRATEGY 1) What is a blue ocean strategy? Kim & Mauborgne: Blue Ocean Strategy is a way to make the competition irrelevant by creating a leap in value for both the company and its customers. 2) What are red and blue oceans, and why do you use the colors red and blue? Kim & Mauborgne: We use the terms red and blue oceans to describe the market universe. Red oceans are all the industries in existence today—the known market space. In the red oceans, industry boundaries
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