Team : Hetong Xu; Jin Liu; Jieqi Jin. Blue Ocean Strategy 1. What is a blue ocean strategy? What is a red ocean strategy? Explain these from the perspective of company‚ competition‚ costs‚ and markets. Blue ocean strategy‚ as a business method‚ is about company creating a new market or industry where there is no competitor. Companies play not by traditional rules‚ never use the competition as a benchmark. They could ether create greater value for customers at a higher cost or create reasonable
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strategy development at LEGO. The advent of competitors and research contrary to what LEGO was basing its strategy on up to that point proved to be a focal point for the company. Objectives were set out and adopted and the company moved on. LEGO had difficulty in accessing and reading the market. Once this was highlighted‚ with the aid of a new COO‚ the company restructured and went on a cost cutting expedition – freeing up resources to assist with the long term objectives. LEGO suffered a sharp decline
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Blue Ocean Strategy: FROM THEORY TO PRACTICE W. Chan Kim Renée Mauborgne F or twenty-five years‚ competition has been at the heart of corporate strategy. Today‚ one can hardly speak of strategy without involving the language of competition: competitive strategy‚ competitive benchmarking‚ building competitive advantages‚ and beating the competition. Such focus on the competition traces back to corporate strategy’s roots in military strategy. The very language of corporate strategy is
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Blue Ocean Strategy How to Create Uncontested Market Space and Make Competition Irrelevant by W. Chan Kim and Renée Mauborgne Summarized by permission of Harvard Business School Press Copyright 2005 Harvard Business School Publishing Corporation. 256 pages Focus Leadership & Management Strategy Sales & Marketing Finance Human Resources IT‚ Production & Logistics Career & Self-Development Small Business Economics & Politics Industries Global Business Concepts & Trends Take-Aways
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BLUE OCEAN STRATEGY SIMULATION ROUND BLUE-1 DEBRIEF RESULTS Theory by W. CHAN KIM & RENEE MAUBORGNE Design and Development by YOUR BLUE OCEAN OFFERINGS 18/11/2013 © STRATX 2 YOUR BLUE OCEAN OFFERINGS What is your Blue Ocean offering? Which customers you target (Path 1‚ 3‚ 5 or combination of 1 and 5) How did you come up with offering? What factors you decided to eliminate‚ reduce‚ raise and create and why? 18/11/2013 © STRATX 3 TO-BE STRATEGY CANVAS – TEAM ALBATROSS What was your
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Project definition: LEGO is one of the largest companies in Denmark and a company with a very strong brand. But even so‚ their economy fell apart in 2003-2004 and we are interested in what they did wrong and what they did to turn their significant loss around to a profit in 2005. So our problem is: What caused LEGO’s financial problems in and what did they do to turn it around? This is very relevant‚ because it shows how even one of the biggest brands in a market can’t afford to relax in any aspect
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Mgt372.07 Journal # 04 Samia Farhana Syeda Wasima Hossain Chowdhury Farhat Asiya Nidhi 1110733030 1111275030 1010313030 Lego builds yet another record profit to become world’s top toymaker Summary: Lego‚ the most familiar brand name for children’s toys‚ has re-established its position into the world’s most profitable toy maker ahead of Barbie’s Mattel. But a decade ago‚ this Danish company was struggling highly to sustain in the industry as sales were declining at the rate of 26% each
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Chapter-5: Reach Beyond Existing Demand How do you maximize the size of the blue ocean you are creating? This chapter provides a guide to reaching beyond existing demand‚ encouraging companies to challenge the conventional strategy practices of focusing on existing customers and finer segmentation to accommodate buyer differences. Instead of concentrating on customers‚ companies need to look to noncustomers and build on powerful commonalities in what buyer’s value in order to unlock new markets
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Eleanor Baxter Research Proposal (FAD 186) Introduction I am going to introduce my final major project as a Stop Motion animation working for the Brand Lego. I will be researching the company deeply using the statistics over the last few years to establish what is needed to improve sales and what will help promote recent Themes within the brand using some of the criteria they use to promote themselves such as campaigns on upcoming films like ‘Star wars‚ Teenage mutant ninja turtles
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20101233 20054057 Assignment Title : The LEGO Group: working with strategy. Date : 03 March 2012 Programme : BTECH-MANAGEMENT IV Question 1 Explain how the development of strategy at the LEGO Group reflect the key characteristics of strategic management outlined in section 1.2 and in the model in Figure 1.4? “Strategy is the long-term direction of an organization” (Johnson‚ Whittington and Scholes‚ 2011‚ p.3). The LEGO Group started with the manufacture of stepladders‚
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