In$-$Class activity

$1.$ Define the concept of the Blue Ocean Strategy. How does it differ from traditional competitive strategies?

$2.$ Choose a company that successfully implemented the Blue Ocean Strategy. Describe the market space it created and the key elements of its strategy.

$3.$ Discuss the importance of value innovation in the context of the Blue Ocean Strategy. Provide examples of how companies have achieved value innovation through this approach.

$4.$ Analyze the four actions framework proposed by Kim and Mauborgne in the Blue Ocean Strategy. How can companies apply this framework to break out of industry competition?

$5.$ Critically evaluate the risks and challenges associated with implementing the Blue Ocean Strategy. Provide recommendations for overcoming these challenges based on real$-$world examples.

$6.$ Compare and contrast the Blue Ocean Strategy with the Red Ocean Strategy. What are the main differences in their approaches to market competition?

$7.$ Select a product or service that failed to adopt the Blue Ocean Strategy and suffered as a result. Discuss the reasons for its failure and propose how it could have applied the Blue Ocean Strategy instead.

$8.$ Investigate the role of innovation in driving the success of the Blue Ocean Strategy. Provide examples of innovative features or offerings that contributed to the creation of new market spaces.

$9.$ Explore the sustainability of the Blue Ocean Strategy over time. How can companies maintain their competitive advantage in the long term while continuously innovating and creating new market spaces?

$10.$ Reflect on your own experiences or observations of companies implementing the Blue Ocean Strategy. What lessons can be learned from these examples, and how might they inform your future strategic decision$-$making?

Example:

Choose a company that successfully implemented the Blue Ocean Strategy. For instance, Cirque du Soleil is often cited as a prime example of a company that revolutionized the circus industry through the Blue Ocean Strategy. Analyze how Cirque du Soleil created a new market space by combining elements of traditional circus acts with theatre and high$-$quality production values. Discuss how the company differentiated itself from traditional circuses, attracted new audiences, and achieved profitability by reducing costs and focusing on value innovation. Evaluate the sustainability of Cirque du Soleil's Blue Ocean Strategy and the key factors contributing to its continued success in the entertainment industry.

PPT submission is required select one sucessful company