Blue Ocean Strategy Abby Taylor HMI 408-B1 Kendall College 10 May 2014 Executive Summary “Have you caught the wave?” For those who have not heard this quote before‚ it is associated with a strategic strategy known as Blue Ocean Strategy; Blue Ocean was coined by W. Chan Kim and Renee Mauborgne. In this strategy‚ the authors use the term “blue ocean” to get people to envision creating their own “blue oceans” which is often thought of as untouched
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universe. Red Oceans are all the industries in existence today the known market space. In the red oceans‚ industry boundaries are defined and accepted‚ the competitive rules of the game are known. Here companies try to outperform their rivals to grab a greater share of existing demand. As the market space gets crowded‚ prospects for profits and growth are reduced. Products become commodities‚ and cutthroat competition turns the red ocean bloody‚ hence‚ the term “red” oceans. Blue Oceans in contrast
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Blue Ocean Strategy MKT/421 August 11‚ 2014 Blue Ocean Strategy The Blue Ocean Strategy is a slang term for the uncontested market space for an unknown industry or innovation (Investopedia‚ 2014). Take the circus industry‚ for example‚ its appeal is in rapid decline as technology becomes more interesting than seeing chained animals perform. When the circus first came out‚ it was the 1700 where no one had ever seen performances of its kind. Now the traditional circus’s audiences are in
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Blue Ocean Strategy The high growth and profits an organization can generate by creating new demand in an uncontested market space‚ or a "Blue Ocean"‚ than by competing head-to-head with other suppliers for known customers in an existing industry. The only way to beat the competition is to stop trying to beat the competition. To understand what Cirque du Soleil has achieved‚ imagine a market universe composed of two sorts of oceans: red oceans and blue oceans. Red oceans represent all the industries
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BLUE OCEAN STRATEGY Ryan Rosenbaum Donald Gregory Businesses are always striving to be the better contenders than their competitors. Different theories have been thrown out to see which the best one would be. The Blue Ocean Strategy theory says that companies would be better looking for ways in which they compete against themselves and that is all. W. Chan Kim and Renee Mauborgne wrote a book called “Blue Ocean Strategy”. There is a term called Red Ocean which consists of businesses
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The impact of Blue Ocean Strategy In the earlier work (See Blue Ocean Strategy: how to create uncontested market ‚ 2005) it has been argued two types of strategies: blue ocean strategy and red ocean strategy. Red ocean strategists compete to win market share in traditional mature markets and pursue either a differentiation or cost leader strategy. On the other hand‚ Blue ocean strategists‚ create new environments‚ redefine products or services or the nature of competition‚ make competition irrelevant
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Blue Ocean Strategy MKT 421 May 4‚ 2015 William Alan McIntyre Blue Ocean Strategy While blue ocean strategy entails creating new opportunities where one ’s do not currently exist‚ blue ocean strategy does is not exclusive to new business and new segments through R&D. Blue oceans can be created from current industry standards by redefining the customer experience. IKEA is a prime example of how crowding in existing business practices can offer blue ocean strategy to the company willing
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Blue Ocean Strategy Paper A Descriptions of Blue Ocean Strategy and it’s Importance Blue ocean is a slang term that comes from the book "The Blue Ocean Strategy‚" by W. Chan Kim and Renee Mauborgne. Blue ocean describes the opportunities of vast‚ untapped market spaces that can be developed by expanding market boundaries or launching new industries. In any established market‚ many businesses are in constant battle with each other for sales and customers. This is compared by a blue
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| HOW BLUE OCEAN STRATEGY IS APPLICABLE TO TATA NANO | Submitted by: Srinjoy Guha Bakshi (111257) | | MBA (FULL-TIME) 2011-2013Faculty Guide: Prof. Swarup Kumar Dutta | | Date of Submission: 6th February 2013 | Declaration: Submitted in Partial Fulfilment of the Requirement of the Dissertation in the Master of Business Administration Programme (Full Time) Table of Contents: Letter of Approval Declaration Acknowledgements Executive Summary Introduction Literature Review
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Blue Ocean Strategy While traditional approaches to corporate strategy‚ such as those presented by Porter‚ Oster‚ and Duggan emphasize victory through direct competition in existing markets‚ blue ocean strategy stresses the avoidance of conflict as key to long term commercial prosperity. By creating new demand rather than battling for existing market space‚ a firm can position itself for rapid growth‚ profitability‚ and dominant brand equity. While certain organizational traits ease the implementation
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