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Where can I find Blue Ocean Strategy?

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Where can I find Blue Ocean Strategy?

Here’s how you create a Blue Ocean:

  1. Define the current reality.
  2. Identify a segment of customers who are only interested in or find value in a portion of the features of a product or service.
  3. Alter the product or service to be inferior on the aspects that are less valued by your new target audience.

Is Netflix a Blue Ocean Strategy?

Netflix. The first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service.

What is Blue Ocean Strategy example?

The first example of blue ocean strategy comes from computer games giant, Nintendo, in the form of the Nintendo Wii. The Nintendo Wii launched in 2006 and at its heart is the concept of value innovation. This is a key principle of blue ocean strategy which sees low cost and differentiation being pursued simultaneously.

What is Blue Ocean Strategy tool?

Chan Kim and Renée Mauborgne’s Strategy Canvas is a central diagnostic tool and an action framework that graphically captures, in one simple picture, the current strategic landscape and the future prospects for an organization.

What are two ways to create blue oceans?

There are two ways to create blue oceans. One is to launch completely new industries, as eBay did with online auctions. But it’s much more common for a blue ocean to be created from within a red ocean when a company expands the boundaries of an existing industry.

What is required for a blue ocean strategy to succeed?

To build humanness into the blue ocean shift process and help people develop the confidence to act, Chan Kim and Renee Mauborgne have identified three elements that address different aspects of our humanness: atomization, firsthand discovery, and the exercise of fair process.

Is Airbnb Blue Ocean Strategy?

Both Uber and Airbnb are great examples of the blue ocean strategy. Although operating in the hospitality industry, Airbnb doesn’t own any property, it manages an online travel platform.

Is Google using Blue Ocean Strategy?

Google is a wonderful company revolutionizing information technology. The success of the networking company relies on Google’s adoption of Blue Ocean Strategy.

Is IKEA blue ocean strategy?

“IKEA‟s competitive strategy is Blue Ocean strategy, which leads IKEA create leading position in local furniture industry.”

How do you make a blue ocean strategy?

Five Steps to Making a Blue Ocean Shift

  1. Select the right scope for your blue ocean initiative and build your people’s confidence.
  2. Next, get super clear about the current state of play.
  3. Identify the hidden constraints that you can turn into opportunities.
  4. Go from the big picture to creating practical blue ocean options.

How do you make a blue ocean canvas?

5 Proven Steps to Creating Your Own Blue Ocean Strategy

  1. Step 1: Create A Strategy Canvas. A strategy canvas is the most fundamental tool used in the Blue Ocean Strategy framework.
  2. Step 2: Raise An Attribute.
  3. Step 3: Reduce An Attribute.
  4. Step 4: Eliminate An Attribute.
  5. Step 5: Create An Attribute.

What are the pros and cons of blue ocean strategy?

Blue ocean strategy makes the competition irrelevant by creating a new market space where there is no competitions. There are many pros and cons of this strategy – the main and considerable advantage of this strategy is the first mover benefit in terms of market penetration where the companies see no competition and hence these companies become the king of the market.

What is the purpose of the blue ocean strategy?

Blue Ocean Strategy – Introduction. The blue ocean strategy in marketing is a unique approach to building a customer base. Rather than try to compete in a crowded marketplace with existing companies, a blue ocean strategy looks to build an entirely new market segment that has not other existing firms.

What is the cornerstone of blue ocean strategy?

The cornerstone of blue ocean strategy is “value innovation”, a concept originally outlined in Kim & Mauborgne’s 1997 article “Value Innovation – The Strategic Logic of High Growth”.

Is blue ocean strategy basically a low cost strategy?

Blue Ocean Strategy is described as the ideology of pursuing differentiation and low cost to open up a new market space and create new demand. Done correctly your business is supposed to be more profitable. Companies using this approach are proactive in planning for the future practices of their industry.

https://www.youtube.com/watch?v=3u6PcfryjHY

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