Review on Blue Ocean Strategy Essay

Review on Blue Ocean Strategy Essay

Length: 1601 words (4.6 double-spaced pages)

Rating: Term Papers

Open Document

Essay Preview

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 Mauborgne, 2005)
Therefore in summary, BOS is a strategy that mainly focuses on these matters:-
1. DO NOT compete in existing market space. INSTEAD companies should create their own uncontested market space.
2. DO NOT against the competition. INSTEAD companies should make the competition among your competitors become irrelevant.
3. DO NOT capture existing demand. INSTEAD companies need to create and capture new demand.
4. DO NOT make the value or cost trade-off. INSTEAD companies need to break the value/cost trade-off.
5. DO NOT align the whole system of a company's activities with its strategic choice of differentiation or low cost. INSTEAD companies should align the whole system of a company's activities in pursuit of both differentiation and low cost.
A Blue Ocean Strategy is more suited for companies that its products are on mature or on declining level of their product life cycle (Kim and Mauborgne, 2005). Competing in overcrowded industries is no way to sustain high performance. The rea...


... middle of paper ...


...f on the successful companies that implemented this concept and significance finding from the previous study by Nemani et.al , it can be said that WOS able to help us to explore new and fresh aspect on the business skill that not mainly focus on the profit oriented. This WOS also can be merging with another ocean strategy like BOS or ROS which it positively estimated able to produce better result to the company. Danai (2012) suggested that if companies that adopted Blue or Red Ocean add WOS in their development plan would help the company’s growth their sustainability.
References
1. Danai Chanchaochai, 2012. Blue ocean strategy: a powerful paradigm for sustainable success in a world where everyone can be a winner, DMG Book.

2. Markides, C., Geroski, P. (2005). Application of Red, Blue, and White Ocean Strategies in the Realm of Conscious Phenomenology.









Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on Blue Ocean Leadership : Basic Summary

- BLUE OCEAN LEADERSHIP BASIC SUMMARY Blue ocean leadership is a concept derived from the blue ocean strategy formulated by W. Chan Kim and Renee Mauborgne, professors at INSEAD business school. Blue ocean strategy says that leaders in industries are created not by competing with each other (red ocean) but by creating “blue oceans” of uncontested market space with tremendous potential to generate value. Profs Kim and Mauborgne now apply the same revolutionary concept to one of the key assets of industry- human capital-to see whether the same concept can be created to harness the untapped potential of the human capital....   [tags: Management, Leadership, Blue Ocean Strategy]

Term Papers
930 words (2.7 pages)

Blue Ocean Strategy- A Marketing Book Essay

- ... The only thing required is to walk through the challenge of conceptualizing, blue oceans, in a smart and responsible way. As there are neither permanent, excellent companies nor industries. To achieve profits through blue oceans, it is essential that the company conduct a self-analysis of steps that had desired returns, and the way of simulating them systematically, over a repeated period to achieve Blue Ocean opportunities. Most marketing executives would argue that blue ocean opportunities are depleted in the modern world....   [tags: literary analysis, marketing moves, businesses]

Term Papers
1064 words (3 pages)

Blue Ocean Strategy Essay

- Blue ocean strategy is a strategy that aims to make the competition irrelevant by finding ways to generate uncontested market space (Media Marketing, 2012). By implementing this strategy, a company is being forced to align their process related to production, costs and costs activities (Media Marketing, 2012). By utilizing the blue ocean strategy, Ambang Mata will achieve higher returns and also may continue to survive in the market. One of the strategy being suggested was setting up a research and development department (R&D) may also very helpful in analyzing the current market trend as well as developing a new products....   [tags: Business, Ambang, Blue-Ocean]

Term Papers
962 words (2.7 pages)

Commentary on The Blue Ocean Strategy Essays

- Introduction This paper is an attempt to explore the Blue Ocean Strategy which surfaced in the year 2004 and within a few months, it revolutionised thinking patterns and decision making processes of many firms around the world. The terms “red oceans” and “blue oceans” became the part of the business dictionary and many business related journals started using these terms. It links to the themes of “critical response” and “critical thinking” because the very creation of Blue Ocean Strategy is a challenge or disapproval of the entire field of strategic management, the field of study which has been studied, explored and discussed by many well-known authors over the past five decades and even b...   [tags: Marketing, Industry, Competition]

Term Papers
682 words (1.9 pages)

Steps for a Company to Open a Blue Ocean Market Essay

- A market can be described as either a red ocean or a blue ocean depending on whether the industry of the market is in existence or not. To be specific, red oceans denote the already known market space where all the industries in it are existent. In the red oceans, boundary lines between industries are well-defined. Here, companies are endeavor to have a greater market share against their competitors. However, expected earnings and growth become low due to fierce competition as more and more market participants enter into the market....   [tags: business analysis, strategy]

Term Papers
1284 words (3.7 pages)

Essay about Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne

- “The only way to beat the competition is to stop trying to beat the competition.” (Kim and Mauborgne, 2005, 4). Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant by W. Chan Kim and Renee Mauborgne explains how to overcome competition by creating uncharted markets. The author, W. Chan Kim, is the professor of strategy and international, management at INSEAD, and the second author, Renée Mauborgne is the INSEAD Distinguished Fellow as well as a professor of strategy and management....   [tags: companies, competitors, strategies]

Term Papers
1122 words (3.2 pages)

The Blue Ocean Strategy Helps Students Find Their Career Path Essay

- Life gives unlimited opportunities. Recently I’ve been working on different projects in Demola community. This organization offers students a great opportunity to add some real-life twist into the conventional path towards a career. It means that students work in a project with a multidisciplinary team to solve real-life cases together with partner companies. I cognized three main things which are strongly connected with key points of Blue Ocean Strategy. First, create a value. Undertsanding of why our new product/service is valuable for client comparing to the old-fashioned model....   [tags: value, marketing, competition]

Term Papers
530 words (1.5 pages)

The Development of AirAsia Airlines: How They Apply Blue Ocean Strategy

- ... The new and growing fleet Airbus 320s contributed to relatively low total aircraft maintenance and operating costs. Its Target Markets According to what has been written by Rizal Ahmad, AirAsia’s target market has changed from being dominated by budget passengers from Malaysia to business travellers from United Kingdom and Australia. The travellers are sorts of businessman, government departments that going to and from Malaysia to other countries. In 2008, AirAsiaX has expanded their journey pathway to Hangzhou in Northest China, Gold Coast, Perth and Melbourne in Australia then they flew to London Stansted in UK in 2009....   [tags: management practices, aircrafts]

Term Papers
1561 words (4.5 pages)

Essay on The Importance of the Ocean

- How important is the ocean. Plants that grow in the ocean produce half the oxygen all of the world’s population needs to survive (The Nature Conservancy, 2014). The Carbon dioxide the body releases is also absorbed by the ocean’s waters (The Nature Conservancy, 2014). Medicine that is used to fight cancer and cure disease is formulated from ingredients from the ocean (The Nature Conservancy, 2014). Not only does the ocean keep the people of the world healthy but it accounts for 128 billion dollars of the GDP, keeping the economy healthy also (The Nature Conservancy, 2014)....   [tags: Ocean, Marine Life, Fishes, Tuna]

Term Papers
1249 words (3.6 pages)

Essay on Marketing Plan for Blue Ocean Travels

- 1. Executive Summary Blue Ocean Travels (Pvt) Ltd was formed to provide air flight reservations along with all level of accommodations, travel insurance, and other travel related service providers to clients. The company's target customers are high income and the medium income earners. These would include lawyers, bankers, executives, doctors, etc. The major purchasers are located in urban areas within Sri Lanka. The customers are generally loyal repeat customers. In addition to all these changing customer needs, more niche markets are also evolving promoting differentiated products....   [tags: Sri Lanka, Niche Markets]

Term Papers
3235 words (9.2 pages)