Review on Blue Ocean Strategy Essays

1597 Words7 Pages
Review on Blue Ocean Strategy (BOS) BOS is a kind of strategy which be inspires to innovate and focus on develops new demand and new markets through selling products e.g: Ipod, Ipad instead of fighting with the competition over the same market share as well as satisfying the same demand from the customers which is typically done in a red ocean strategy (ROS). In other word, BOS represent "untapped market space" and the opportunity to gain high profit for the companies. They urge companies to enhance the value of innovation by focusing more on price, utility, and cost positions. In addition, companies also suggested creating and capturing their new customers demand as well as keeping their focus on the big picture, not the numbers. (Kim and…show more content…
It also helped companies to consider an alternate ways to spot opportunities that will give add value and competitive advantage in business in order to capture the market demand. The issue arise from my own perspective is whether BOS can be reliable for the long term success of the companies. How company want to sustain their high performance and success by focusing more on the uncontested market space rather than competing in overcrowded industries. 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. Apart from the negative side, implementing the BOS can lead the company to become pioneer. So a company that has succeeded on creating a BOS has many sustainability advantages (Kim and Mauborgne, 2005. The pioneer advantages can be in
Open Document