Motivate your organisation. The expectations in this ocean are to have high yields, higher demand and opportunities for growth. Are you and your classmates ready to build the future? A Blue Ocean Strategy. Blue Vs. Red Ocean. Red oceans are all the industries in existence today - the known market space. yohan (PRO, 75 mind maps) Visit Website added Wed, Jun 26, 2019. via web. The researchers called this the Red Ocean, analogous to a shark infested ocean . Blue Ocean. I believe that the Blue Ocean strategy is intended more for MNEs because it may require more resources to survive and be successful in those markets. Red v/s Blue | Blue Ocean Strategy India PDF RED OCEAN Blue Ocean Strategy: The Four Actions Framework Answer (1 of 10): In this seminal work Blue Ocean Strategy, the authors define a blue ocean (a completely new market) and contrast that with a red ocean (competition in an existing space). To tell the truth, it is quite challenging to come up with the idea of a completely original and unique project. Summary Of The Blue Ocean Strategy These can emerge from a red ocean when looking to go beyond the existing market segment limits. You must keep in mind that there is a deeper potential of the marketplace that hasn't been explored yet. This helps you compete and win by leaving your red ocean strategy. A blue ocean strategy is based on creating demand that is not currently in existence, rather than fighting over it with other companies. How to Develop a Unique Strategy for Your Business: Red ... Red Ocean Strategy. Uber Disruptive can use following Blue Ocean Strategy (BOS) tools and techniques to overcome the red ocean of cut throat competition in Leadership & Managing People industry. This is often true even in industries that are technology intensive. (DOC) Blue Ocean Strategy Paper | Janet Tran - Academia.edu Red Ocean vs. Blue Ocean Strategy - How to Advice for your ... Waiting for the weather to change is not what category creators and category designers do. Red Ocean vs. Blue Ocean Strategy | How to Advice for your ... Blue ocean strategy is about creating and capturing uncontested market space, thereby making the competition irrelevant. Red Ocean strategies compete in existing markets which is referred to head to head competition, where as Blue Ocean strategies exist in . Having Lots of Competitors or a Fierce Competition. Blue Ocean Shift is for people who understand and accept the Blue Ocean Strategy already, and then gives more applicable ways to actually put it into practice when starting or growing a business, i.e. Develop an actionable plan. Red ocean. Although it would be foolish to dismiss competitive strategy altogether the study shows that competition eventually erodes the profits from innovation, but it is a slow process requiring 15 years or so, which suggests that it takes the better part of a generation for the blue-ocean approach to yield to competitive strategy. 4.4 The Three Characteristics of a Successful Strategy 4.5 Interpretation of the Value Curves 4.6 The Six Blue Ocean Principles 4.7 The Formation and Implementation of the Blue Ocean Strategy 4.7.1 Recreation of the Market Limits 4.7.2 Focus on the General Performance, not Numbers 4.7.3 Approach the Market Beyond the Existing Demand In case of blue ocean strategy the emphasis of the company is on research and development because new products can only be made if company invests funds into research department whereas in case of red ocean strategy the emphasis is on good service and timely delivery to the customers because emphasis in this strategy is the satisfaction of the . The blue ocean strategy fundamentally challenges leaders to assess the value rather than the technology. Most blue oceans are created from within red oceans by expanding existing industry boundaries. If you are new to blue ocean strategy, watch this brief video introducing you to the basic concepts. Specifically, these new markets give a company a very high competitive advantage as well as low price/cost pressure. STUDY. The core premise of a Blue Ocean Strategy is to break down the trade off between value and cost, by creating uncontested markets.. Align the whole system of a firm's activities with its strategic choice of differentiation or low cost. Based on the discussion, it is safe to say that the blue ocean is a better way to bring fewer risks, more success, and increased profits. include blue ocean strategy along with the red ocean strategy. In contrast, a blue ocean strategy means no competitors, and it's easier for your company to thrive. A blue ocean strategy aims to create new demand. For example, Netflix made the strategic move of converting to a streaming service from a DVD sales and rental business. Blue Ocean Strategy is a strategy to create a new untapped market space. Characteristics of a strategy. Red Ocean vs Blue Ocean Strategy. Red oceans are all the industries in existence today . Companies often bring innovations that replace existing products/services. With a Blue Ocean Strategy, you'll be a category creator. Blue Ocean is a strategy of innovation in new market space where competition does not exist. They assert that these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition irrelevant. A blue ocean strategy is based on creating demand that is not currently in existence, rather than fighting over it with other companies. There is a defined market, defined competitors and a typical way to run a business in any specific industry. Of course, the blue-ocean approach to this model would call . Like the 'blue' ocean, it is vast, deep and powerful -in terms of opportunity and profitable growth. A blue ocean strategy is based on creating demand that is not currently in existence, rather than fighting over it with other companies. Red ocean. Blue Oceans vs Red Oceans. Zara Color.fashion can use following Blue Ocean Strategy (BOS) tools and techniques to overcome the red ocean of cut throat competition in Sales & Marketing industry. Factors such as competitive rivalry, new entrants, buyer power, supplier . One of my favourite and heavily referenced textbooks is 'Blue Ocean Strategy' by W Chan Kim and Renee Mauborgne. Breaking out of Red Ocean of Bloody Competition Examples of how Blue Ocean Strategy can be used for Uber Disruptive case study. fWhat Is Blue Ocean? These can emerge from a red ocean when looking to go beyond the existing market segment limits. These are normally found by the small but unpopular market. We throw a single fish into the ocean and… boom. The strategies of a blue ocean it must have the following characteristics: Focus. Blue Ocean Strategy coexists alongside Red Ocean Strategy (Competitive Strategy). Just like blue ocean strategy turned conventional perspective on corporate strategy and creativity on its head, blue ocean leadership is doing the same in the field of leadership. Visit Website. RED OCEAN VS. BLUE OCEAN STRATEGY. These competitors may possess a competitive advantage driven by cost, differentiation, or niche market strategies. They are uncharted Red Ocean Vs. Blue Ocean Strategy. Breaking out of Red Ocean of Bloody Competition Examples of how Blue Ocean Strategy can be used for Zara Color.fashion case study. In this 5 minute blog, I'll tell you what the difference is between a red vs blue ocean, and how certain entrepreneurial skills can help you survive a bloody red ocean. Competition is irrelevant because the rules of the game are waiting to be set. Red ocean. While traditional competition-based strategies are necessary, they are not sufficient to sustain long-term high performance.Entrepreneurs need to switch from Red Ocean strategies to Blue Ocean strategies to make a dent in the world. In their classic book, Blue Ocean Strategy, Chan Kim & Renée Mauborgne coined the terms 'red ocean' and 'blue ocean' to describe the market universe. Blue Ocean Strategy. The strategy aims to develop a brand new market segment within the industry and does not focus on overcrowded existing . the "buyer utility map" and how to find pain points in existing industries. In red oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. Red Ocean Strategy Blue Ocean Strategy . The Red Ocean Strategy focuses on existing markets, whereas the whole concept of the Blue Ocean Strategy is to break the status quo and come up with something unique and new. This mind map was made with MindMapper. By identifying untapped (or at least less tapped) product markets where unique buyer segments and needs can be identified and satisfied, Blue Ocean Strategy results to . blue ocean strategy [46] or as a disruptive innovation, it is wise to begin in incremental stages in assessing the effectiveness of a new idea in a new market space [47]. Red Ocean Strategy vs Blue Ocean Strategy Chan Kim & Renée Mauborgne coined the terms red and blue oceans to denote the market universe. April 26, 2012 by irishjanetejano. ∗Achieved via the delivery of features that have a highest marginal benefit to customer needs . The blue ocean is the name for a newly discovered or created business, while the red ocean indicates an already existing industry. Are you and your classmates ready to build the future? The strategy focuses on moving away from an existing market and seaching for new markets. A red ocean is a saturated market with industry competitors. Blue Ocean Strategy vs. Red Ocean Strategy Ways to Write a Blue Ocean Blog Ideally, we all want to create blue ocean blogs that make the competition irrelevant. It seems that everything that could have been invented, is already there. • Strategy is the course of action of decisions that are long term performances and are usually unique in nature. 8 Start developing Blue Ocean Strategy for your organisation in order to break away from the competition through . We are in the middle of the ocean when a swarm of hungry sharks surrounds our boat looking for prey. . Blue Ocean vs Red Ocean Strategy. Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne. For more than ten years, this strategy was conceived and successfully practiced by many companies. Imagine this: we are scuba diving in the Bahamas (post-COVID of course). ∗Blue Ocean Strategy is a: ∗Value Innovation Strategy - competes in an uncontested market space ∗"Combination Strategy ": pursue differentiation while controlling costs. Red Ocean vs. Blue Ocean Strategy. Learn how to engage your colleagues in a Blue Ocean Strategy process. It rejects the principles of trading low cost vs value proposed by Michael Porter. In Red Oceans, industry boundaries are defined and accepted, and the competitive rules of the game are known. GE1715 08 Handout 1 [email protected] *Property of STI Page 1 of 4 BLUE OCEAN STRATEGY R ed O ce an v s. Blu e Oc ea n Blue oceans are not about technology innovation. Red Ocean vs. Blue Ocean Strategy. Airlines and blue ocean strategy. The concept of Blue Ocean is not new, but the theoretical framework is! Characteristics of a strategy. Red Ocean vs. Blue Ocean Strategy What is Red Ocean Strategy? Blue Ocean Vs Red Ocean strategies ….. Prof. Suhas Mekhe ISBS. Exploit existing demand. Instead of segmentation, which results in niche or small markets, blue ocean aims for de-segmentation, capturing a mass of buyers. Compete in existing market space. A Company Caught in the Red Ocean . Created using: Visit Website. The name Red Ocean is a Metaphor for a sea where fishes eat each other to survive.. Is defined by untapped market space, demand creation, and the opportunity for highly profitable growth. Blue Ocean Strategy vs. Companies that create a new category can capture larger percentages of the . Every blue ocean move will ultimately turn into a red ocean. Some are created within red oceans by expanding existing industry. Looking at entire industries in this way allows you to tell over time whether an innovation strategy or a competitive strategy is best. For example, cold drinks belong to the Red Ocean as there are so many companies selling them, however, a new generation of 3D printers or self-driving electronic cars . For instance, automobiles replac. Because, only with a blue ocean strategy and the right entrepreneurial mindset, you can swim into a more profitable and distinct blue uncontested market space. However, in a few cases, companies manage to transition toward uncontested markets. It is a great way to mobilize thinking around new differentiators (value creation). Red Oceans are described as all the industries in existence today: the known market space. Red Ocean Versus Blue Ocean Strategy Create uncontested market space Align the whole system of a . You must keep in mind that there is a deeper potential of the marketplace that hasn't been explored yet. Red Ocean vs. Blue Ocean Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. To talk about the blue ocean, we need to, first, talk about its opposite: the Red Ocean. Gain a new framework for strategy design and implementation. This new market space is created by launching new offerings, with the aim being to make the competition irrelevant so that an organization can grow, uncontested, at least in the beginning. Value innovation is the cornerstone of Blue Ocean Strategy. There is ample opportunity for growth that is both profitable and rapid. • Strategy is the direction and scope of an organization over the long-term The concept is quite simple to understand. Make the value-cost trade-off. You must keep in mind that there is a deeper potential of. This strategy emphasizes how the company does not win the competition by conducting a head-to-head strategy with competitors. In their bestselling book Blue Ocean Strategy, W. Chan Kim and Renée Mauborgne argue that companies need to go beyond competing.. Blue Ocean Strategy Paper Janet Tran MKT/421 Susan Tomaski University of Phoenix February 2, 2015 f Blue Ocean Strategy Paper The blue ocean strategy is a unique marketing approach aimed to building a strong customer base. In short, Red ocean strategy refers to competing for the existing marketplace, where the blue ocean strategy denotes making a new uncontested marketplace. Dalam dunia bisnis strategi blue ocean adalah sebuah strategi yang akan membantu bisnis yang Anda jalankan untuk melakukan sesuatu yang baru atau keluar dari samudera merah (blue ocean ) dengan cara membuat sesuatu yang sama sekali baru dan belum ada pesaing nya. เปรียบเทียบระหว่าง Blue Ocean Strategy กับ Red Ocean Strategy. In the ever-competitive online space, we tend to stumble upon the same articles over and over again. The strategies of a blue ocean it must have the following characteristics: Focus. The Red Ocean is where every industry is today. In their 2005 book entitled, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, Professors W. Chan Kim, and Renée Mauborgne of INSEAD, a graduate business school with locations in Europe and the Middle East, put forth a simple, but effective argument as to why markets should be divided into two distinctly different categories. Download File. Red and Blue ocean strategy Red ocean strategy - is to improve the market share in the current market and creating demand beyond expectations. "Blue Ocean Strategy" by W. Chan Kim and Renee Mauborgne is a strategy that challenges companies to distance itself away from fierce competition by establishing uncontested market space that makes existing competition irrelevant. Red ocean. In blue oceans, demand is created rather than fought over. A red ocean strategy means that you compete with other companies and get as many customers as possible. The color of the Ocean is red, due to fish blood. In a red ocean market or a red ocean strategy, there is a concentrated market and will be highly competitive. In other words, don't compete in the same market. Does the Value Curves meets the 3 criteria?When a company's value curve, or its competitors', meets the three criteria that define a good blue ocean strategy—focus, divergence, and a compelling tagline that speaks to the market—the company is on the right track. In 2005, Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant, a book by Professors W. Chan Kim and Rénee Mauborgne, launched a . A company will have more success, fewer risks, and increased profits in a blue ocean market. The sub text of the title page is 'How to create uncontested market space and make the competition irrelevant.'. Perbandingan Blue Ocean VS Red Ocean Menurut Pakar. Fourth, companies following red ocean strategies choose a strategic option, either to differentiate their products and services or to pursue low cost, increasing their profits through large scale. The Blue Ocean, on the other hand, is calm, smooth, with lots of food and little or no competition. To understand red ocean strategy let us begin by defining blue ocean strategy. The result of the competition is destruction, which draws the analogy of red blood in . Geoff - 20 th April 2016. Karena kompetisi red ocean yang seiring berjalanya waktu justru menjadi semakin merah, munculah konsep untuk membuat samudera pertarungan yang baru, yaitu blue ocean strategy. Small Business Operations / By Steven Imke. BLUE OCEAN STRATEGY | RED VS BLUE OCEAN | BUSINESS STRATEGYBLUE OCEAN STRATEGY: To make business irrelevantRED OCEAN STRATEGY: Lots of competitionBUSINESS CA. Strategi samudra biru adalah upaya sebuah bisnis untuk keluar dari persaingan bisnis yang sangat ketat, dengan cara menciptakan ruang pasar baru yang tidak ada pesaingnya. In their 2005 book entitled, Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant, Professors W. Chan Kim, and Renée Mauborgne of INSEAD, a graduate business school with locations in Europe and the Middle East, put forth a simple, but effective argument as to why markets should be divided into two distinctly different categories. It is about creating and capturing uncontested market space, thereby making the competition irrelevant. The E-Commerce space is a vicious, stressful, highly contested and congested channel. Summary map of red ocean vs blue ocean strategy from Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne. The Porter's Five Forces is focusing more on what makes an organization competitive in existing red markets and it is concerned with the micro-environmental factors affecting businesses within the same industry. The goal of a Blue Ocean Strategy is for organizations to find and develop "blue oceans" (uncontested, growing markets) and avoid "red oceans" (overdeveloped, saturated markets). Adalah W. Chan Kim & Renee Mauborgne sang penulis buku Blue Ocean Strategi yang berpendapat bahwa strategi Blue Ocean jauh lebih baik dalam profitabilitas. One of the reasons why the authors have used the colours red and blue is to describe the market. If you can create a Blue Ocean Strategy of your own in the E-Commerce space you will dramatically increase your chances of success. I. To map current value propositions and then to create innovative new value. Blue Ocean Strategy is a book published in 2004 written by W. Chan Kim and Renée Mauborgne, professors at INSEAD, and the name of the marketing theory detailed on the book.. A Red Ocean Strategy is the name of the optimal Strategy to follow in a very Competitive Market.. The vieoints of the authors are discussed with a greater clarity in order to clearify both the terms with respect to different references provided. This revolutionary Red vs Blue Ocean Strategy helps businesses create new markets rather than compete in existing ones. And there is a very dominant, all-consuming shark in that red ocean with you. EMBA Pro Blue Ocean Strategy Approach for Coca-Cola vs. Pepsi-Cola (A) At EMBA PRO, we provide corporate level professional Marketing Mix and Marketing Strategy solutions.Coca-Cola vs. Pepsi-Cola (A) case study is a Harvard Business School (HBR) case study written by Andrall E. Pearson, Constance L. 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