About fifty five 55 initiatives involving more than eighty 80 government agencies have been implemented using the National Blue Ocean Strategy NBOS concept to date, which have benefited the people and touched their lives at a more personal level. However, Blockbuster was starting to rent their movies through the Internet after Netflix came out, trying to keep their business relevant.
Netflix became too popular with many options to choose from at a low monthly cost. Essentially, they take an industry already in existence, and alter it enough to create an entirely new area of market.
The explanation of the six principles and description of the adoption of these principles by companies, build the main content of this book.
Red oceans refer to the known market space — all industries in existence today. Nike was able to enter a market using the red ocean strategy approach and add creativity and innovation to an athletic industry that was already established and climb to the top without the blue ocean approach.
Everyone in the organization, at all levels, have important role to play in the success execution of the blue oceans strategy. Blue ocean strategy is a strategy that differs significantly from most business strategies. Kim and Mauborgne identified six 6 principles to be adopted in order for industries to generate growth and profit.
Netflix streams many movies, TV shows, and documentaries without a real competitor. Overcome Key Organizational Hurdles is the fifth principle. As the market space gets crowded, prospects for profits and growth are reduced.
Conclusion A company must master its traditional markets using conventional strategic planning tools. However, a few years after the Wii was introduced, Xbox came out with the and Playstation came out with Move both of which players can interact with the game.
That constant advance means there will always be opportunity for blue ocean moves. The stories of the success of the industries are very inspiring as compared to the theories of the Blue Oceans. While the competition is fierce in the red ocean, the world is constantly advancing. There was competition that existed before Nike became known.
It would take the company quite a while to plan for this service, implement the service, and garner interest from the population. Today businesses can compete on many levels and all around the globe.
The visual approach involves visual awakening, visual exploration, visual strategy fair, and visual communication. In the book Kim and Mauborgne only elaborate on the blue ocean strategic thinking based on many successful industries. Kim and Mauborgne research shows that fair process is vital to the success of blue oceans implementation.
EBay was the first of its kind to initiate a service of online auctions reaching an enormous target market that had never been targeted before in this manner by offering an online auctioning service to customers from the convenience of their homes.Contents Contents 2 Introduction 3 6 Paths Framework 4 Becoming an i-business 5 3 Tiers of Non s 5 Buyer Utility Map and Experience Cycle 6 4 Hurdles to Execution 7 References 9 Introduction Blue ocean strategy is about a paradigm shift, the shift in managerial thinking.
The Blue Ocean Strategy is a slang term for the uncontested market space for an unknown industry or innovation (Investopedia, ).
Take the circus. The Blue Ocean Strategy is based where a study of strategic moves spanning over 30 different industries. In the book, the authors argue that leading companies will succeed not by battling competitors, but by steadily creating “blue oceans” of recognized market space ripe for growth.
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Come browse our large digital warehouse of free sample essays. Get the knowledge you need in order to pass your classes and more. Only at killarney10mile.com". Blue ocean strategy is a strategy that differs significantly from most business strategies. Blue ocean, denotes all the industries not in existence today—the unknown market space, where there is no current competition.Download