Blue ocean strategy is a business concept that focuses on doing business along the line where there is no competitor or little or no competition; rather it seeks to create new opportunities for business instead competing for space in the already saturated horizon. It does this by either creating entirely new product in a market or reinventing already existing product in such a unique way that will meet the needs the of the market in a way that has not existed before. It adds value to the market while
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it adds little value in explaining to route so success. 2. most fundamental assumption of the Blue Ocean theory is that industry’s conditions can be shaped by a firm’s efforts. The red ocean describes a situation where existing industry rules are readily formed‚ static and cannot be changed. While the possible occurrence of a blue ocean encourages the creativity and learning‚ the red ocean claims that learning is ineffective in such situation. The assumptions behind the two are therefore not
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Not the First to Sail the Ocean Blue In 1492‚ Columbus sailed the ocean blue. Although most students are taught this phrase‚ little else is taught or learned about Columbus. The history and background on Columbus and his voyage is typically unverifiable and often controversial. His need for wealth and power is not deserving of a national holiday. Students should know Columbus sailed the ocean blue on the Nina‚ Pinta‚ and Santa Maria‚ in 1492‚ but there is much more unknown and untold about his story
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grass green or the ocean blue ?. Liquid water absorbs short wavelength light (UV)‚ long wavelengths and infrared light. Each color has a different wavelength‚ so it is refracted at a slightly different angle‚ resulting in dispersion. The colors visible spectrum results in the light response‚ the absorption‚ reflection‚ transmission and in the color addition/subtraction. Out of the visible light spectrum the most absorbed is the red-orange along with the yellow-green‚ and the blue-violet. As the light
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identify strengths and weaknesses competitors‚ specializes‚ to control one simple word in the head‚ which provide leadership and direction to understand the reality of the market by becoming the first of which became better.”_ RED OCEAN STRATEGY: Definition: Red Ocean Strategy is a head to head battle where the players of a particular segment compete with each other remaining in the same market space i.e. within the boundaries of the same industry on the principle of ‘competitive advantage’. Characteristics:
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WK3Assgn2ANeddermeyer General Discussion a. Create a "measurement matrix" in Excel that identifies‚ categorizes‚ and ranks as many relevant performance measurements as you think are important to your chosen company’s business strategy. b. Write a one- to two-paragraph summary of why you think these are the important measurement criteria and why you’ve ranked them in the order you have. Categries | Rank | Quality | 1 - High Prority | People | 2- Medium Priority | Safety | 3 - Low
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familiar with the red oceans and feel accustomed to competition. However the main challenge companies face thereby is their incapacity to create new demand or expand their market share. The Blue Ocean Strategy offers users a framework for creating uncontested market space and change the focus from the current competition to creation of innovative value and demand. The theoretical analysis reviews the core basics of the Blue Ocean Strategy‚ distinguishing between red and blue oceans. Here the focus lies
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BU.450.710.52 – Tesla’s Blue Ocean Strategy – Page 1 TESLA: A BLUE OCEAN MARKETING STRATEGY Matthew Gazda‚ Vanessa Granville‚ and Ryan Schupp Marketing Strategy BU.450.710.52 Johns Hopkins University May 8‚ 2014 BU.450.710.52 – Tesla’s Blue Ocean Strategy – Page 2 Executive Summary Tesla is an innovative electric car manufacturer that intends to overturn the current gaspowered vehicle industry. CEO Elon Musk has masterminded a product that will compete
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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
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It is important‚ as a part of any companies’ Blue Ocean Strategy‚ to explore the three tiers of non-customers‚ the buyers’ utility map and experience cycle‚ and uncover the blocks to buyers’ utility. As companies explore the three tiers of their non-customers they may be able to uncover an untapped potential for customers. The three tiers of non-customers identifies what customers are not purchasing a product or service you offer‚ as well as why they may not be part of your current consumer group
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