Overview of the Blue Ocean Strategy

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Blue Ocean Strategy Executive Summary These days all major global organizations are focusing towards the latest concept of Strategic Management, "The Blue Ocean Strategy". This concept, which seems new, is actually hundreds of years old. It gives the idea of creating Blue Oceans by building a new market space and making the competition irrelevant. This paper will discuss in detail the concept of Blue Ocean Strategy, its evolution, principles and its practical application in the real world. Table of Contents Introduction……………………………………………………………………...04 Evolution of Blue Ocean Strategy…………………………………………….…04 Blue Ocean Vs Red Ocean……………………………………………………….05 Six Principles of Blue Ocean Strategy……………………………………………06 Advantage of Blue Ocean Strategy……………………………………………….07 Blue Ocean Strategy A Dynamic Process………………………………………08 Blue Ocean Creations………………………………………………………….…09 Blue Ocean Strategy Build Brands……………………………………………….10 Blue Oceans: Past, Present and Future……………………………………………11 Mini Case Study: Crocs Incorporation……………………………………………13 Introduction Blue Ocean Strategy (BOS) is a new concept in strategic management, introduced by Professor W. Chan Kim and Renee Mauborgne in 2004. After doing detailed research, Kim and Mouborgne found out that most of the companies rely on the market segmentation and price competition for attracting customers. This results in increasing costs and decreasing rewards creating a Red Ocean where all competitors compete together. Therefore, in
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