CPLM Blue Ocean Strategy E-Book

Aldridge Menzel

• Herausgeber: GRIN Verlag
• Sprache: Englisch

Veröffentlichungsjahr: 2014

Beschreibung

Seminar paper from the year 2011 in the subject Business economics - Business Management, Corporate Governance, grade: B, University of Canberra, language: English, abstract: 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 before that. Where strategic management has been constantly emphasising to outclass the competition, blue ocean strategy cites this approach as short minded and insufficient and instead, preaches the creation of blue oceans to make the competition irrelevant. The reasons why authors of this strategy came up with the blue ocean strategy was because the engaged in the process of critical thinking and critical response and gathered the courage to challenge the mainstream and widely held assumptions about competition. Despite the fact that concepts of innovation and creativity did exist before the advent of blue ocean strategy, Blue Ocean Strategy provided the business and an academic world with a new lens to look at innovation, creativity and value creation (Thompson & Strickland, pp. 314-316, 2003). When as of today, there are many scholars which disagree to the theory as cite it as irrelevant, inconsistent and not having enough theoretical and research grounding. On the other hand, there are scholars who are engaged in the process of defending the theory thus creating an ongoing process of dialogue, critical thinking and critical response. The paper also explores those criticisms and makes an attempt to provide the answers for them.

Leseprobe

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Table of Contents

Introduction

Discussion

Meaning of Blue and Red Oceans

Blue Oceans

Red Oceans

Blue Ocean Strategy

Porter Five Forces Model and Red Oceans

Threat of Competitive Rivalry in Red Oceans

Bargaining Power of Customers in Red Oceans

Bargaining Power of Suppliers in Red Oceans

Threat of New Entrants in Red Oceans

Threat of Substitutes in Red Oceans

Strategic Management – the Flip Side of Blue Ocean Strategy

Criticisms and Misunderstandings about Blue Oceans

Examples of Blue Ocean Strategy

Conclusion

References

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 before that. Where strategic management has been constantly emphasising to outclass the competition, blue ocean strategy cites this approach as short minded and insufficient and instead, preaches the creation of blue oceans to make the competition irrelevant. The reasons why authors of this strategy came up with the blue ocean strategy was because the engaged in the process of critical thinking and critical response and gathered the courage to challenge the mainstream and widely held assumptions about competition. Despite the fact that concepts of innovation and creativity did exist before the advent of blue ocean strategy, Blue Ocean Strategy provided the business and an academic world with a new lens to look at innovation, creativity and value creation (Thompson & Strickland, pp. 314-316, 2003). When as of today, there are many scholars which disagree to the theory as cite it as irrelevant, inconsistent and not having enough theoretical and research grounding. On the other hand, there are scholars who are engaged in the process of defending the theory thus creating an ongoing process of dialogue, critical thinking and critical response. The paper also explores those criticisms and makes an attempt to provide the answers for them.

Discussion

Meaning of Blue and Red Oceans

 Red and blue oceans represent the entire market universe. At any given point in time, the sum of markets would be equal to the sum of red and blue oceans. The names given to them are based on their certain characteristics which are discussed below.

Blue Oceans