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
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low cost or differentiation. The two basic types of competitive advantage combined with the scope of activities for which a firm seeks to achieve them‚ lead to three generic strategies for achieving above average performance in an industry: cost leadership‚ differentiation‚ and focus Cost leadership Strategy: This strategy involves the firm winning market share by appealing to cost-conscious or price-sensitive customers. This is achieved by having the lowest prices in the target market segment‚
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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
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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
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QUIZ LP Formulation 1. ACME Co. is a manufacturer of X’s which they sell to OR/MS teachers to be used as variables. For this week they intend to manufacture two types of X’s‚ namely‚ X1’s & X2’s. The profit contribution for each unit of X1 & X2 are $4 and $5‚ respectively. Mr. Loony‚ the manager of ACME‚ found out that his available supply of raw material 1 (RM1) and raw material 2 (RM2) are 18 units and 24‚ respectively. Each unit of X1 will require 3 units of RM1 and 3 units of RM2 while
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It wasn’t till about two years ago that I overheard some of my friends talking about Adderall. They were discussing how most of their friends took this drug during midterms and final week. I was a little hesitant about this “magical” pill. I didn’t believe that it could actually help students focus on their schoolwork. A few months after that‚ a friend of mine decided to take Adderall and according to him‚ he was able to focus on his final paper…actually it was a little more than just focusing on
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scanning‚ strategy formulation‚ strategy implementation‚ and evaluation and control. Environmental scanning is usually used to classify strategic influences that will control the future of the corporation. Strategy formulation is the act of rising long-term tactics for the future of a company by using the company’s strengthens‚ and weaknesses‚ for the efficient management of environmental opportunities and pressure. 2. Explain the role projects play in the strategic management process. Strategy implementation
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MANAGEMENT PROCESS Strategy: A strategy is a plan of action designed to achieve a particular goal. Art & science of formulating‚ implementing‚ and evaluating‚ cross-functional decisions that enable an organization to achieve its objectives Some Examples • Geographic expansion • Diversification • Acquisition • Market penetration • Retrenchment • Liquidation • Joint venture Strategic Management: It includes: 1. Making Strategies (Decisions) 2. To work upon those strategies Strategic
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review of strategy implementation and strategy process frameworks Introduction Great strategies are worth nothing if they cannot be implemented (Okumus and Roper 1999). It can be extended to say that better to implement effectively a second grade strategy than to ruin a first class strategy by ineffective implementation. Less than 50% of formulated strategies get implemented (Mintzberg 1994; Miller 2002; Hambrick and Canella 1989). Every failure of implementation is a failure of formulation. The
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Introduction The mission‚ vision‚ and values contribute to an organization’s ability to reach its desired end state by clearly stating the fundamental principals that will guide the firm’s actions and defines a clear set of values that encourages staff to work towards accomplishing the desired end state. The Alameda County Community Food Bank was chosen for completing a strategic plan. This paper will discuss the strategic plan for the Alameda Community Food Bank‚ components of the strategic management
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