Blue Ocean Strategy is a marketing theory and the title of a book published thesisi 2004 that was written by W.
Chan Kim and Renée Mauborgne, professors at INSEAD. The four actions framework aids in eliminating the trade-off between differentiation and low cost within a company. Raise: This questions which factors must be raised within an thesisi in terms of product, pricing or service standards. Eliminate: This questions which areas of a company or industry could be completely eliminated to reduce costs and to create an entirely new market. Reduce: This questions which areas of a company’s product or service are not entirely necessary but play a significant role in your industry, for example, the cost of manufacturing a certain material for a product could be reduced.
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Therefore, it can be reduced without completely eliminating it. Create: This prompts companies to be innovative with their products. By creating an entirely new product or service, a company can create their own market through differentiation from the competition. The second part describes the four principles of blue ocean strategy formulation.
The third and final part describes the two key implementation principles of blue ocean strategy including tipping point leadership and fair process. These implementation principles are essential for leaders to overcome the four key organizational hurdles that can prevent even the best strategies from being executed. Unlike the «red ocean strategy», the conventional approach to business of beating competition derived from the military organization, the «blue ocean strategy» tries to align innovation with utility, price and cost positions. The authors ask readers «What is the best unit of analysis of profitable growth? This section possibly contains original research. The metaphor of red and blue oceans describes the market universe.
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As critical reading and critical thinking as Judaism and Islam, Christianity is also monotheistic.