Blue Ocean Strategy - PowerPoint Presentation

Slide1

Blue Ocean StrategySlide2

Explain Who developed the Blue Ocean Strategy

Explain What is a Business Universe

Differentiate between Blue Ocean and Red Ocean

Describe the Importance of Blue Ocean Markets

Explain Key Terms Related to Blue Ocean Strategy

Describe Ways to Create Blue Oceans

Explain Steps to Create a Blue Ocean Strategy

List the Blue Ocean Strategy Tools

Explain What is Meant by Value Innovation

Explain What is Tipping Point Leadership

Explain What is the ERRC Grid

Explain the Use of the Buyer Utility Map

Explain Steps for Strategy Reorientation & Execution

List the Core Values to Drive Innovation

Describe How to Choose Right Strategic Approach

ObjectivesSlide3

Flynn is not sure what kind of business he should start.

He knows that if he tries to venture into the field of electronics and consumer goods, his business would face a lot of tough competition from the existing players in the field.

IntroductionSlide4

The market space of electronics and consumer goods is so crowded that in order for his business to succeed, Flynn would have to beat the existing competition and also exploit the existing demand.

IntroductionSlide5

Introduction

Flynn’s ex-boss and a long time friend, Mark Yardley comes to Flynn’s rescue.

Mark tells Flynn that in order to start a successful business venture, it is crucial that Flynn’s business should create a unique and uncontested market space just for itself.Slide6

In such a market space which is free from competition, Flynn can be sure that his business can easily and to a greater extent surely succeed.

Mark tells Flynn to carefully study and implement the ‘Blue Ocean Strategy’ for his business.

IntroductionSlide7

Mark tells Flynn that in order to implement the ‘Blue Ocean Strategy’ he would have to come up with a business idea that will create a new uncontested market space for his business.

IntroductionSlide8

Hence, you can understand that in order to succeed in any business, an organization and its management should always try to adopt a strategy such as the ‘Blue Ocean Strategy’ to rid itself of the tough competition and create a new free market space for itself.

Introduction

Let us learn about the

‘Blue Ocean Strategy’

in detail.Slide9

W. Chan Kim and Renee Mauborgne developed the “Blue Ocean Strategy” concept. This concept was first presented in their

book titled “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant

.”

Who developed the concept of Blue Ocean Strategy?Slide10

Blue Ocean Strategy versus Red Ocean Strategy

Let us know look at some of the differences between the blue ocean strategy versus the red ocean strategy.

In this concept, a market space is created which is free from any competition.

It involves competing in an existing market

space

Competition is irrelevant here and it has no effect on the success of a business.

It involves beating the competitionSlide11

Importance of Blue Ocean Markets

In red ocean market space, the competition is very severe and cut throat. Hence “Blue Oceans” are important and it is a shot way to success.

When the competition is heavy, the companies have to reduce their price to beat others. It leads to reduction in profits and growth.Slide12

Steps to Create a Blue Ocean Strategy

Step 3: Reach Beyond Existing Demand

Step 1: Create Uncontested Market Space

Step 2: Focus on the Big Picture

Step 4: Focus on Getting the Strategic Sequence Right

The following are the four steps that you need to follow to create a ‘Blue Ocean Strategy:

Let us look at each in detail.Slide13

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