Essays on Sustainability of Blue Ocean Concept Coursework

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The paper 'Sustainability of Blue Ocean Concept" is a great example of business coursework.   Markets are very hard to garner and maintain. For most businesses, this is one among the many challenges that need a well thought out plan to ensure that the business successfully attains its goals in line with the vision and mission statement. More often than not, businesses concentrate on fighting to earn a share of the market among many of the competitors in the industry. While this may be easy for big-time players with the financial clout, the small-time players may find it a little more challenging.

Many times, businesses have to carve out a niche for them in order to garner some markets. This concept is very critical since it forms a strict market that only the unique company benefits from. It can maintain this advantage only for long enough. When businesses create a niche market segment by being unique through unique products, then they are applying the blue ocean concept (Kim et al, p. 86, 2008). This paper will examine if it is possible for companies to keep jumping into the blue ocean into the red ocean.

It will then look into the possibility of locking perceived competitors from joining them in the blue ocean. Red ocean concept is described as a market with the regular rules: One that has the plain rules with an equal playing field and with all the players angling to garner markets based on factors other than unique products. Here, all the businesses jostle with each other using techniques such as marketing strategies to earn a bigger share of the market. Kim and Renee (2015) are of the opinion that companies like Apple Inc.

have largely been successful due to the fact that they opt to create markets for their unique products than remaining in the red ocean (Plesoianu, p. 700, 2011). The red ocean concept does not usually augur well with businesses that want to cut a niche for themselves while remaining very competitive. As things stand, Apple Inc. is one of the very profitable businesses globally. To get an insight into how the red ocean concept works against a company and if it is good to keep jumping in between the two, it is imperative that we carry out an assessment. There are various checks one needs to carry out in order to ensure that the transition between a red ocean concept into a blue ocean concept is not implemented improperly.

First off, it should not be done in such a way as to confuse the creation of a new market as differentiation. Differentiation is really just one of the ways through which one can garner a new market and remain unique.

However, Kim and Renee (2014) posit that more often than not, businesses that have a knack to create new markets mistake this for blue ocean concept since they are seen as pioneers in gaining these particular market segment. It does go without saying that such businesses will soon find competition and may need to continue creating new markets, again and again, making the concept quite diluted.

Bibliography

Chan Kim, W. and Mauborgne, R., 2005. Value innovation: a leap into the blue ocean. Journal of business strategy, 26(4), pp.22-28.

Dan Schawbel., 2014. W. Chan Kim: How Entrepreneurs Can Find Their Blue Oceans. Forbes. Available at http://www.forbes.com/sites/danschawbel/2014/02/14/w-chan-kim-how-entrepreneurs-can-find-their-competitive-edge/#2f500124457d [Accessed on 14th April, 2016]

Dehkordi, G.J., Rezvani, S. and Behravan, N., 2012. Blue Ocean Strategy: A Study Over A Strategy Which Help The Firm To Survive From Competitive Environment. International Journal of Academic Research in Business and Social Sciences, 2(6), p.477.

Kim, W.C. and Mauborgne, R., 2014. Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant. Harvard Business Review Press.

Kim, S., In, H.P., Baik, J., Kazman, R. and Han, K., 2008. VIRE: Sailing a blue ocean with value-innovative requirements. Software, IEEE, 25(1), pp.80-87.

Gillam, D., 2009. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant [Book Review]. New Zealand Journal of Applied Business Research, 7(1), p.75.

Kim, W.C. and Mauborgne, R., 2015. Red Ocean Traps. Harvard Business Review, 93(3), pp.68-73.

Plesoianu, G. and Cîrstea, A.C., 2011. Organically Produced Foods-A Competitive Approach for the Twenty-First Century in Terms of Blue Ocean New Strategic Concept. Review of International Comparative Management, 12(4), pp.696-703.

Roth, S., 2014. Booties, bounties, business models: a map to the next red oceans. International Journal of Entrepreneurship and Small Business, 22(4), pp.439-448.

Strategy, B.O., 2004. Blue Ocean Strategy. Harvard Business Review, 82(10).

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