5.Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
1) Add your discussion in this forum by clicking the button at the bottom of this screen. In your post please include the following: This assignment is in lieu of the Term paper and must be in APA format. Include and label the following sections;
One of the more recent concepts of strategy is the blue ocean strategy which was developed by W. Chan Kim and Renee Mauborgne. The strategy is basically built around an analogy of the red ocean and blue ocean. The idea of the red ocean is that of an environment that is filled with sharks and the water is bloody, signifying a crowded market. The blue ocean on the other hand signifies an open and nurturing environment. Companies that choose to adopt the blue ocean strategy have several advantages:
Strategy refers to the plan or action taken to achieve organizational goals. When Ellen took over Tufts-NEMC, the hospital was struggling with payroll and scale. Ellen had to focus on meeting payroll, a short-term strategy, and could not focus entirely on the longer term. She took some immediate measures to help cut cost
Note. APA formatting is not required for this assignment. Use a title and reference page where appropriate. Consider using a checklist or flowchart to outline your process.
Strategy is the direction and scope of an organisation over the long-term which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets. A strategy is a plan of action designed to achieve a specific goal or series of goals within an organizational framework.
The first part of this project requires you to prepare and present a power point presentation to your assessor and class colleagues. Your presentation should last approximately 10 minutes. Your power point presentation should clearly explain and provide sufficient detail on:
Competition based strategies, such as those laid out by Michael Porter, are based off of a well defined set of boundaries which the book refers to as the structuralist view. Within these boundaries, companies fight for larger market share by seeing what the competition is doing and then doing it better. What is lost by one competitor in terms of market share is simply gained by another competitor and as such leads to a zero-sum game for the industry. Cost and value are seen as trade-offs which the company must make in order to establish a differentiated or cost position. A blue ocean strategy on the other hand is based on the idea of combining both differentiation and low cost through value innovation. This is in direct contrast to Porter 's stance that a company must only pick one generic strategy to be successful whether that strategy be low cost, focus or differentiation.
Strategy means “consists of competitive moves and business approaches used by managers to run the company”, or in simple term Strategy is a “best course of an a company could take in achieving in business goals” And management action plan, to;
Strategy is a concept that focuses on long term objectives of a firm keeping in view the changes that take place in the business environment and the possible implications that it has on the firm. Thus, a dominant and well-structured strategy plays a very important element in capturing competitive advantage
"Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfil stakeholder expectations".
Defining strategy and what it means within an organisation is no easy task. It can cause confusion and difficulty within organisations, and this must be addressed. While there is no one set definition for strategy, many theorists have attempted to provide one. Examples of these include Alfred Chandler (1962), who defined strategy as “determination of the basic long-term goals and objectives of an enterprise and the adoption of courses of action and the allocation of resources necessary for carrying out these goals”.
Blue Ocean Strategy advocates that for a company to be successful, creating and opening a new market space that no one has entered before is essential. In order to gain and to sustain the value-innovation, every single corporate and business owner should create and discover contentious areas of the market that is ready to grow. This market place is called the 'blue ocean ', a term that should be, but still is not, a keystone for the managers. The book accepts the fact that this strategy is not seen applicable enough by saying "too risky