Blue Ocean Strategy

Blue Ocean Strategy

Welcome to the special session on Blue Ocean Strategy

Multiple Choice

Which of the following cannot be considered as a Blue Ocean example

• Gillette Razor and Blades

• iPod

• Microsoft Windows

• Cique-du-Soleil

Multiple Choice

Which of the following sentences best summarizes the differences between the red and blue oceans strategies?

• In the red oceans, industry boundaries are defined and accepted and the competitive rules of the game are known. Blue oceans are occasionally created well beyond existing industry boundaries.

• Red oceans are about avoiding head-to-head competition while blue oceans are about rivals fighting over a shrinking profit pool.

• Red oceans denote an environment where products are not yet well defined while blue oceans refer to the frequently accessed marketplaces where the products are well-defined, competitors are known and competition is based on price, product quality and service.

• Blue oceans are an old paradigm that represents all the industries in existence today while red oceans are those where companies beat competition by focusing on developing compelling value innovations that create uncontested marketspace.

Multiple Choice

The Correct meaning of the ERRC is

• Energize, Reinvent, Reinforce, Complement

• Eliminate, Reduce, Raise, Create

• Enter, Redo, Reinforce, Converge

• Encourage, Refurbish, Renew, Close

Multiple Choice

The cornerstone of Blue Ocean Strategy is

• Value Innovation

• Value Adoption

• Innovative valuation

• Beating the competition

Multiple Choice

One of the basic strategies for BOS is "Raise". What do companies need to "raise"?

• Factors that are of low values to consumers.

• Existing factors that are valued by customers.

• New factors that are of high value to customers.

• Factors that are low value but customers still want them.

Multiple Choice

The aim of BOS is to create new market space thereby making the competition irrelevant.

• TRUE

• FALSE

Multiple Choice

BOS is the simultaneous pursuit of ____________________.

• differentiation and focus

• diversification and cost leadership

• integration and concentration

• differentiation and low cost

Multiple Choice

Which of the following is a trait of blue ocean strategy?

• Beat the competition

• Create and capture new demand

• Exploit existing demand

• Compete in existing market space

Multiple Choice

The Blue Ocean Strategy was suggested by:

• Henry Fayol

• Peter Drucker

• Renee Mauborgne

• Abraham Maslow