Outline the main components of Kim and Mauborgne’s (2004) concept of ‘Blue Ocean Strategy’. Critically assess the strengths and limitations of this approach to pursuing competitive advantage. Use relevant examples to support your argument. Introduction In the contemporary hostile business environment‚ innovation has become part of any company’s paramount strategy for continuous survival. Nokia‚ despite being the world’s largest mobile phone manufacturer having a large customer base‚ realized how
Premium Blue Ocean Strategy Strategic management Innovation
Blue Ocean Strategy Paper Julian Nicholson MKT/421 January 15‚ 2015 Terry Dunning Blue Ocean Strategy Paper Blue Ocean Strategy Pertinence Blue Ocean Strategy is a concept in which authors W. Chan Kim and Renee Mauborgne devised. They then wrote a bestselling book called you guessed it‚ Blue Ocean Strategy. In this book the authors expound upon at great length‚ the benefits for business owners to leave the red ocean. Red Ocean is a term used for what is known as the waters
Premium Blue Ocean Strategy Ocean Oceanography
Blue Ocean Strategy Plan MKT/421 Introduction In today’s competitive market where companies attempt to outperform one another by creating a brand new product or adjusting an existing product in attempts to appeal to a larger customer base are referred to as a Blue and Red Ocean strategy plans; “Red Oceans represent industries in existence today‚ and the industry boundaries are defined‚ accepted‚ and the competitive rules of the game are understood. Blue oceans denote all the industries
Premium Ford Mustang Chevrolet Camaro Ford Motor Company
Blue Ocean Strategy Paper Gregory Newfield MKT/421 October 13‚ 2014 Professor Ricci Rizzo MBA Blue Ocean Strategy The Blue Ocean Strategy focuses on the three industries that closely touch people’s lives. Areas they looked at were Autos‚ Computers and Movie and what companies within those fields are doing to managing sustainable profit and growth through the test of time. The creation of a blue ocean strategy places its focus on strategic moves to place their brand in position long
Premium Blue Ocean Strategy Ocean Market
Blue Ocean Strategy Stephanie Copenhaver MKT/421 December 15‚ 2014 Fritz Beiermeister Blue Ocean Strategy What is Blue Ocean strategy and the importance of it? Blue Ocean Strategy is the creation of a new product that is not used in the market and there will be no competitors for this product. By having no competition in this market place it will help decrease the company’s costs but will give the company new customers so the value will go up. It is a theory that was created by INSEAD professors
Premium Management Blue Ocean Strategy Strategic management
Wikipedia: A Blue Ocean Strategy Section A: Group 4 Analysis of Wikipedia‚ as a Blue Ocean Strategy Wikipedia‚ the collaboratively edited free internet encyclopaedia is a household name. Launched in 2001 by Jimmy Wales and Larry Sanger‚ it has now grown to be the seventh most visited website with approximately 365 million users worldwide. How is it that the small encyclopaedia market grew more than a hundred times in the space of 8-10 years and changed its orientation in such a path breaking
Premium Wikipedia Blue Ocean Strategy
2012. (You will be advised of precise date and venue) ---------------------------------------------------------------------------------------------------------------- Assessment Type: [Assignment: Group Oral Presentation for a new business strategy] -------------------------------------------------------------------------------------------------- Indicative Assessment Requirements for the Module: Group Presentation and supporting documentation (equivalent to an overall maximum of 3000
Premium Blue Ocean Strategy Group Strategic management
Blue Ocean Strategy Paper MKT/421 The Blue Ocean Strategy The blue ocean strategy in marketing is an approach to building a customer base looks to build an entirely new market segment that does not currently exist with other firms. Perfect competition consists of a myriad of competitors in the same industry that are fighting with each other over their slice of the market by offering similar products or substitute products for innovations that already exists. A “red ocean” describes a marketplace
Premium Management Blue Ocean Strategy Strategic management
Blue Ocean Strategy Paper Ingrid Dillard MKT/421 December 22 2014 Dianna Iobst Blue Ocean Strategy Paper Blue Ocean strategy is an opportunity to create new and unique ways in an uncontested market space. This important strategy focuses on making competition irrelevant through creating a new innovative product or service. This paper outlines a product service that is considered a Blue Ocean move and the alternative Red Ocean strategy will also be covered. Blue Ocean Description and
Premium Blue Ocean Strategy Management Ocean
Blue Ocean of Airasia: introduction Blue oceans might provide profitable high-growth for companies with new competitive advantages. Many companies over the worldhi have created blue oceans but these blue oceans only remain in a short periods and quickly become red oceans. Kim and Maugne claimed in their book that in order to have sustainable competition advantages‚ blue oceans should be different attached by low cost. However‚ the fact shows that innovations are expensive so it is difficult to
Premium Low-cost carrier Airline Blue Ocean Strategy