MAN 320F EXAM 2 AROIAN Questions and Answers 100% Solved
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Module
MAN 320F
Institution
MAN 320F
MAN 320F EXAM 2 AROIAN Questions
and Answers 100% Solved
Blue Ocean Strategy - strategy where it includes all industries not in
existence, unknown market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy - all industries in existence, the known mkt sp...
what is the key to success? - ✔✔market opportunity
Value innovation - ✔✔low costs
high buyer value
red vs blue ocean strategy - ✔✔Red:
compete in existing mkt space, beat competition, exploit existing demand,
focus on value-cost trade-off, make decision to differentiate through
strategic choice and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand,
focus on differentiation & low costs, reconstructionist view
the winning strategic approach involves - ✔✔value innovation
you break the value-cost trade off by - ✔✔enhancing a limited set of key
factors and reducing or eliminating all other traditional
ex: microsoft office vs open office
strategic plan - ✔✔comprehensive plan that identifies the critical direction
and guides the allocation of resources
strategic management - ✔✔1) analyze and learn from stakeholders
2) establish strategic direction
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