Blue Ocean Strategy

I attest that this document is an original creation submitted in accordance with the requirement for the Comprehensive Written Project (CWP) in Seminar in Business Strategy (GB-5388) during the Fall 2015 academic term.

The Business Strategy and Policy course relies on conceptual and analytical skills to examine the challenges of firms. We apply and integrate analytical techniques from accounting, finance, management, marketing, economics, and related business disciplines. Two capabilities are of particular importance: (1) the ability to critically evaluate the profit potential of industries or environments and deal with the threats and opportunities presented by each; and (2) an

Due to the growing competition and diminishing market share, companies are opting for different strategies to achieve their survival objectives as well as growth. Companies are thus executing grand strategies to provide their businesses with a clear direction for its strategic actions. These strategies, therefore, aim at both short term and long term sustainability and growth, and they include innovation, market development, product development, and concentration.

In contrast, “Blue Oceans” represent the unknown market place, i.e. all the types of businesses not actively participating and/or existing

Cirque Du Soleil’s show in Downtown Disney is a show that I have wanted to see for a very long time. The creative marketing that I have seen has made me very interested in the shows. Many of my friends and colleagues have already seen the show and have highly recommended it. “Cirque du Soleil is one of the rare companies that utterly redefine their industries. It takes the circus’s raw materials – trapeze artists, contortionists, strong men, clowns – combines them with surreal costumes, nonstop New Age music, and dazzling stagecraft, and then ties it all together with a vaguely profound theme like “ a tribute to the nomadic soul” or “a phantasmagoria of urban life”” (Kreitner, 231).

Blue Ocean Strategy Paper Establishments are not eternally remaining on the market in a productive way. It is normal to find industries that make wise decisions, but there is also the possibility that the decisions taken have not been the best. The mission as marketing managers is to discover the wise decision that would mark not only within the industry, but also in the market with the purpose of repeating that decision in a clever and a systematic way. Redbox creates their new brainchild in 2002 McDonald's Ventures, LLC. The original idea was that two important services were combined in the movie rental

The kind of competition market described previously is an example of a Red Ocean Strategy. The market is oversaturated with companies

How to increase market share and maintain rapid growth at the same time, and where.

Wheelen, T., Hunger, J., Hoffman, A., & Bamford, C. (2014). Blue Nile, Inc. Case Study 10. In Strategic Management and Business Policy (14th ed., pp. 10.1-10.16). Boston: Pearson.

The following is a highlighted summary of the book, Competing for the Future, published by Harvard Business School Publishing. The statements below are key points of the book as determined by James Altfeld and have been made available at no charge to the user.

Kim, W. Chan, and Renée Mauborgne. "Blue Ocean Strategy." Davidhenard.com. Harvard Business Review. Web. 22 Oct 2013. .

"oday managers in many industries are working hard to match the competitive advantages of their new global rivals. They are moving manufacturing offshore in search of lower labor costs, rationalizing product lines to capture global scale economies, instituting quality circles and justin-time production, and adopting Japanese human resource practices. When competitiveness still seems out of reach, they form strategic alliances-often with the very companies that upset the competitive halance in the first place. Important as these initiatives are, few of them go beyond

The authors of the book 'Blue Ocean Strategy' are two friends who dedicated the book to their friendship, loyalty and belief in one another. They are: W. Chan Kim and Renée Mauborgne. They met twenty years before publishing the book, in a classroom – one as a professor, the other as a student. And since that time they have been working together seeing themselves like two wet rats in a drain.

This strategy seem challenging since this strategy focus on capture new market and new demand, which it’s required extra efforts in term of innovation of products and promotion in order to make customers realize about their product. Even there are some discussions about the blue ocean strategies; however, based on my review on customers comment said that the practical guidance on how to create them is limited. Therefore, without usual analytic framework which can be used as guidelines to create blue oceans as well as effective principles to manage risk, creating blue oceans viewed as too risky for managers to pursue as strategy for their company.

There are some tool produce to help implement blue ocean strategy. The Eliminate-Reduce-Raise-Create (ERRC) Grid is the matrix that help execute blue ocean strategy with the four action framework: eliminating, reducing, aising and creating. ERRC Grid help company to remain on their competitive factors. Eliminating and reduce the factor that the transitional industry take it for granted can help the new strategy to remain unique from the transitional market. Nevertheless, raising and creating some unique competitive factor the transitional market never or seldom offered that is above the industry standard. With all these “Four Actions Framework” the company can escape the transitional red ocean market by activate a new blue ocean market and create a new value curve. (Kim & Mauborgne, 2005)