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Blue Ocean Strategy Paper
MKT 421
September 15th, 2014

Blue Ocean Strategy Paper

Blue Ocean is team for the uncontested market margin for unrevealed industry. This was forge by Professors W. C. Kim and Renee Mauborgne in their book “Blue Ocean Strategy: How to create uncontested market space and the make competition irrelevant” ( 2005). In most established industry, companies compete with each other to achieve similar goals, which is to get the right customers in other to make high possible profits. Some companies stop operating because; they are unable to compete with their competitors. That is what the Red Ocean stands for, a saturated market built by competition.
Blue Ocean Strategy and Its Important  
Blue Ocean occurs where there is no such company operating or producing, making this new firm to grow and become large without any competition. The book has 3 parts, the first part talks about the abstraction of the Blue Ocean Strategy, which include the value innovation, the simultaneous pursuit of differentiation and low cost, and the key analytical tools and frameworks such as the strategy canvas, the four actions framework, and the eliminated reduce raise create grid.   The second part talks about the four principles of Blue Ocean Strategy Formulation. These four principles are;
  1. How to create uncontested market space by reconstructing
  2. Focusing on the big picture
  3. Reaching beyond existing demand
  4. Getting the strategic sequence right
The final part talks about the two key implementation principles of Blue Ocean Strategy, covering tipping point leadership and fair process. These implementation principles are important for every leaders because it will help to overcome the four key organizational hurdles that can avert any strategies from been accomplished. It is always good to start new company or an organization with fresh ideas and new products that is not already in the market, so that the firm will not be in competition...

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