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Blue Ocean Strategy
Rating: 4.3 out of 5(121 ratings)
396 students

Blue Ocean Strategy

The ‘Blue Oceans’ represent the ‘unknown market space’ which is free from any kind of competition.
Created byManagement Study Guide
Last updated 9/2018
English

What you'll learn

  • 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
  • Understand the concept of ERRC Grid
  • Explain the Use of the Buyer Utility Map
  • Explain Steps for Strategy Reorientation & Execution
  • Describe How to Choose Right Strategic Approach
  • List the Core Values to Drive Innovation

Course content

2 sections • 17 lectures • 1h 9m total length

  • Introduction3:52
  • Explain Who developed the Blue Ocean Strategy1:51
  • Explain What is a Business Universe2:08

    Red oceans represent the known market space with crowded competition and commoditized products. Blue oceans denote the unknown market space where demand is created and firms set new rules.

  • Differentiate between Blue Ocean and Red Ocean1:27
  • Describe the Importance of Blue Ocean Markets1:30
  • Explain Key Terms Related to Blue Ocean Strategy1:54
  • Describe Ways to Create Blue Oceans0:51
  • Explain Steps to Create a Blue Ocean Strategy10:56
  • List the Blue Ocean Strategy Tools0:47
  • Explain What is Meant by Value Innovation8:53
  • Explain What is Tipping Point Leadership2:24

    Target extremes that create disproportionate influence on performance for fast, low-cost change. Tipping point leadership focuses on people, activities, and acts to overcome four hurdles and break the status quo.

  • Explain What is the ERRC Grid6:03
  • Explain the Use of the Buyer Utility Map20:20
  • Explain Steps for Strategy Reorientation & Execution2:44
  • Describe How to Choose Right Strategic Approach1:58

    Identify the right strategic approach using three factors—structural conditions, resources and capabilities, and strategic mindset—choosing between structuralist and reconstructionist paths to create blue oceans and target non-customers.

  • List the Core Values to Drive Innovation1:37

Requirements

  • No prior knowledge is necessary.

Description

‘Blue Oceans’ are a must and an almost sure shot way to success because when companies have to compete in a red ocean market space, the competition is cut throat and fierce. By the end of the course you will be able to: Know Who developed the Blue Ocean Strategy, Understand What is a Business Universe, Differentiate between Blue Ocean and Red Ocean, Describe Ways to Create Blue Oceans, Understand Key Terms Related to Blue Ocean Strategy, Learn the Steps to Create a Blue Ocean Strategy, List the Blue Ocean Strategy Tools, Learn What is Meant by Value Innovation, Explain What is Tipping Point Leadership, Explain the concepts of ERRC Grid, Explain the Use of the Buyer Utility Map, Explain Steps for Strategy Reorientation & Execution and Describe How to Choose Right Strategic Approach.

Who this course is for:

  • This course is good for management learners and people who want to learn about Blue Ocean Strategy
  • Good for Marketing Managers
  • Good for MBA students whose main subject is Marketing

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