Nokia's Blue Ocean Strategy Essay

When a certain point is reached regarding a company’s success, a set of different opportunities arise and partnerships may unfold. However, with every possible strategy available, risks and benefits also come into play; without discarding any of them beforehand, every option is a strong candidate until a final decision is made. In this case study we will analyze the current business strategy pertaining

Could an investor beat the stock market and generate a superior return with companies that have formulated and implemented a blue ocean strategy? Why or why not? Elaborate through at

According to CS’s case, the firm’s strategy includes three aspects to be completive with peer firms. The first is innovation which is to attain substantial resource base through applying edged technologies. The second is control totally on the value chain for the sake of cost efficiency and goods quality assurance. The third concerned with diversity, this is to creating hedges among products classes and market regions. This strategy sounds quite “all round” but there is an issue that it needs relatively large amount of funds each year to attain it. As the technology require a high level of funds to support its technical research group and advanced equipment like new vessels and processing plants. It also needs fund to hire management expertise to monitor and manage on the firm’s value chain. And to dig new produce species and new market worldwide also needs vast funds. Therefore, CS needs to make sure it has sufficient funds yearly to attain its current strategy. Moreover CS will be unable to attain higher revenue if the firm over diversified its product and trading markets in hedging purpose. As the Canadian government controls severely on the seafood producing industry that limited each firm’s ability of seafood manufacturing (known as total allowable catch (TAC)). CS has to keep its product species diversification by acquiring other peer firms

Chapter 6 – Strategy Formulation: Situation Analysis and Business StrategyChapter 7 – Strategy Formulation: Corporate StrategyChapter 8 – Strategy Formulation: Functional strategy and Strategic Choice

Discuss the strategic decisions that firms in this sector may be facing. What future strategies can firms pursue to try to secure their competitive advantage and long term survival?

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

Strategy formulation has been acknowledged as one of the most crucial factors of ensuring the long-term growth of the business. However, the manner in which strategy is formulated, and most importantly, the nature of the strategy chosen for the company determines its future position in the marketplace (Grant, 2005).

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

1. Jet Blue´s Business- level strategy; value and cost drivers Jet Blue uses to create and maintain ist competitive position

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.

I have done research on Mr Price clothing stores as a division and I will use the Blue Ocean strategy namely, a swot analysis, porter five force model, integration of sales and other costs, the attached newspaper article as well as a quantitative risk assessment. It is through these factors in which I will assess their already existing strategic plan and to think creatively to draft a viable strategic plan for the company’s future and to also give recommendations on how to improve.

From Nokia’s vision and mission statement it can be inferred that Nokia wants to be known for its credibility and to be a market leader again as it was before the year 2007 (Kess, 2014). Nokia understands that the company has to use innovation to offer products that are not yet

The code name we gave to our project is ¡¥Low Bap¡¦: the sound of boots of an army when is marching in the battlefield. With this name we compare the business corporations of the present with the huge armies of the past. In this way, we could consider BT as a big army of the past, which has to be kept in a continuous march so as to meet our targets both in short and long-term. Regarding the number of the consumers that are involved and the size of funds, which are going to be used, BT¡¦s strategy will be an example that may have both a positive or negative effect to the Global business field in the future. It is up to us to build BT¡¦s fame as an innovative strategic planner or another bureaucratic plodding giant.

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)