What is required for a blue ocean strategy to succeed?
What will be an ideal response?
For a blue ocean strategy to succeed, managers must resolve trade-offs between the two generic strategic positions-low cost and differentiation. This is done through value innovation, aligning innovation with total perceived consumer benefits, price, and cost. Instead of attempting to out-compete your rivals by offering better features or lower costs, successful value innovation makes competition irrelevant by providing a leap in value creation, thereby opening new and uncontested market spaces.
You might also like to view...
The benefits of high social capital include
A. skill and ability. B. engagement and loyalty. C. values that are not a part of the company's culture. D. low levels of persistence.
Social networking sites are best suited for ________
A) demonstrating thought leadership B) demonstrating product operation C) improving conversion rates D) building network of business contacts
The United States normally purchases more goods from foreign countries than it sells. It is clear that the United States has a:
a. trade surplus b. favorable balance of trade c. comparative advantage d. positive balance of payments e. trade deficit
You want to quit your job and go back to school for a law degree 4 years from now, and you plan to save $8,800 per year, beginning immediately. You will make 4 deposits in an account that pays 5.7% interest. Under these assumptions, how much will you have 4 years from today?
A. $32,408.12 B. $35,243.83 C. $34,838.73 D. $40,510.15 E. $48,207.08