Question

define blue ocean strategy and how university can go for blue ocean strategy? breifly explian 2500 words

Answer 1

blue ocean strategy contrasts with red ocean strategy, where firms in the industry compete head-on among traditional lines.

They typically compete along price lines or the same traditional factors/attributes that the industry always competes along, competing for the same market user base that may be static or even declining. This results in declining profits among firms in the industry as costs rise fighting for the same consumer dollars.

A blue ocean strategy, aims to make the competition irrelevant. A pithy line in the book says "The only way to beat the competition is to stop trying to beat the competition".