Blue Ocean Strategy 1. Introduction According to the well-known authors and management thinkers, W. Chan Kim and enee Mauborgne, ‘the only way to beat the competition is to stop trying to beat the competition’. According to them, the entire market universe can be divided into two oceans: Red Ocean and Blue Ocean. Red Ocean is representative of all such industries/products which already exist and are thus representative of the known market space. Blue Oceans denote the industries /products not
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Blue Ocean Strategy Paper Blue Ocean Strategy is a book written in 2005 to provides readers the ability to no fight against their competitors brands but rather develop ones brand in what some would call a neglected or unusual market place. The book was recognized by the Wall Street Journal as a best seller, along with numerous other recommendations and acknowledgments from industry giants. Blue Oceans was written by two authors with the intent to show that companies can succeed not by battling
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in Harvard Business Review, Blue Ocean Strategy written by W. Chan Kim and Renee Mauborgne, gives an insight to how Cirque du Soleil has implemented a Blue Ocean Strategy when creating its business. This article provides examples for examining alternative purposes and approaches of Blue Ocean Strategies. It appraises the benefits that a Blue Ocean Strategy brings a company by expanding its growth and profit in a much faster speed. It achieves these benefits by creating new market space and making
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STRATEGIC MANAGEMENT ASSIGNMENT # 5 BLUE OCEAN STRATEGY October 24, 2014 Case Study Question 1 Critically analyze the case. Solution 1 In this case study, the author has discussed different methods and strategies which global firms are adapting to achieve success and to grow exponentially in their relevant industries. This article has focused on two strategies, Red Ocean and Blue Ocean particularly. These strategies are used to define the environment a firm is operating in and to
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Contents: 1 Introduction 2 Frameworks and analytics for Blue Ocean Strategy * Strategy Canvas * The Four Actions Framework * Eliminate- Reduce- Raise- Create Grid * Pioneer-Migrator-Settler Map * Buyer utility Map * Three Tiers of Noncustomers * Sequence of the Blue Ocean Strategy 3 Conclusion 4 Appendix Introduction: Due to the rapid development of logistic, communication tools, the world has become ‘smaller’ and ‘flatter’ than ever. Instead of
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Blue Oceans for Miniclip What is Blue Ocean Strategy? Blue Ocean Strategy is a study conducted by W. Chan Kim and Renée Mauborgne. It was based on 150 strategic moves in business after the in depth analysis of more than 30 different evolving industries over the period of more than 100 years. In a nutshell, the study focuses on achieving the success in businesses not by battling hard with the competitors, but creating new opportunities, discovering new markets and forming new industries. It
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Blue Ocean Strategy Brigetta Bailey MKT/421 January 26, 2015 Shannon Peterson Blue Ocean Strategy An old wives tale states, “there’s nothing new under sun” and some would believe that to be true. However authors W. Chan Kim and Renee Mauborgne proved that theory wrong, with the development of the blue ocean strategy, which was adopted by corporations in different industries. Nintendo’s one company that utilized the blue ocean strategy to pull their company out of the red ocean, which is
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Blue Ocean Strategy Paper MKT/421 April 6, 2015 Businesses constantly look for ways to stand out in their market industry. There are two main strategy philosophies that they use to accomplish this goal. Those philosophies are the red ocean strategy and the blue ocean strategy. These ideals may sound strange, but the names make sense once a person understands the principles behind them. Companies looking to make themselves stand out from others must decide on the
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Blue Ocean Strategy MKT 421 Blue Ocean Strategy Description of Blue Ocean Strategy and its Significance According to Cham Kim and Renee Mauborgne (2004), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors. The strategy is against working in conditions such as Red Ocean, where businesses
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Blue Ocean Strategy, a book by W. Chan Kim and Renee Mauborgne, develops and explains how to beat the competition by reaching beyond it into new unexplored markets. The authors use the metaphor of the blue ocean as a direct contrast to red oceans. Red oceans are the battling grounds for typical market competition where firms fight for an already defined and stagnate market. Blue oceans, on the other hand, describe a strategy that breaks away from the blood red ocean into clear, uncharted oceans,
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