International Management Research Reviews -Myassignmenthelp.Com

Question: Discuss About The International Management Research Reviews? Answer: Introduction: This is to be noted that Blue Ocean Strategy is known as the significant impactful and iconic business strategy. This strategy usually denotes to the formation by an individual new company, unchallenged industry space that states the rivals immaterial and that makes new customer value frequent during costs decreasing. It is to be mentioned that this specific strategy was mentioned for the first time by Rene Mauborgne and W. Chan Kim in the popular book with their name (Randall, 2015). Blue Ocean Strategy offers a competitive benefit to the business: This is to be stated that the evaluation of a business plays an important role in order to denote the need of reanalyzing the market strategies and entry of the "blue ocean." Red Ocean It can be said that the specific company who has business strategies comprising the struggle for a portion of limited sales, comes under the category the red ocean (Leibtag, 2013). The particular business plan should engage rivalry with the other significant companies in order to rise the company share. It is evident if company becomes absolutely unsparing with the specific entries of the new rivals then the revenues expected to decrease. Therefore it is essential for a company to leave the specific red ocean and opt for the blue ocean if the rivals wish their rivalry to be inappropriate. Source Exceeds Plea: Significant companies find it easier to provide significant amount of product due to the technological improvement. This is to be noted the increasing number of production does not provide the idea that the demand for the increment does not increase as per the supply. It is evident that the companies who are under the red ocean with other significant rival companies that also have a hefty amount of supply, the rivalry and combating profit will increase. Therefore, it is always beneficial for the companies to get into the blue ocean to look for new scopes. The example of Apple can be taken where it is clearly being seen that the success of Apple was marked with its entry in blue ocean market along with the iPhone, iPad, iPod (Mickey 2013) Unappealing Industry: The absolutely new companies can wish to take a portion of the pie, diving the beneficial profits with other significant companies in the red ocean when entering to an unappealing and competitive industry. According to Mauborgne and Kim, the Yellow Tail, a significant Australian wine company, utilized the blue ocean strategy when it determined not to contest in the red ocean with the specific wine brands of French and Italian. Other Companies Imitate You It is evident if a company can work successfully in the significant blue ocean, it might appeal to the other specific companies. It can transform the blue ocean space to a red one for the company. Therefore it is vital for a company to discriminate themselves in that case. This is to be noted that Kim and Mauborgne has utilized the Salesforce.com, a consumer relationship management method, as a significant example of an individual company that reformed in the blue ocean when others take part in the competition (Williams, 2015). Analysis of two principles of Blue Ocean Strategy with my professional experience: Reconstructing market boundaries: This particular principle identified the specific paths to help me creating unchallenged industry space across the multiple domains and reducing the risk (Chandrakala, 2013). It has offered me guidance to make the rivalry irrelevant by finding the six predictable boundaries of rivalry to be exposed financially significant blue oceans. The six paths are to concentrate on: alternative market place strategic collectives customer groups alternative products service provide It needs to be analyzed on the basis of the functional-emotional dependence of a company across the specific time and zone. Build execution into strategy: This is to be noted that I have motivated to execute blue ocean strategy in order to survive with my company in the organization. This principle comprises a significant fair process as this strategy positively represents a significant withdrawal from the particular status quo (Sull 2015). The fair process has helped me both in making the strategy as per the company and market requirement and the execution of this strategy by mobilizing the crowd for the charitable assistance with the help of the execution of blue ocean strategy. It helped me understanding the management risk related to the positive attitude and practice. Conclusion: This is to be concluded that Blue Ocean Strategy plays an important role in helping a company to analyze the risk factors, plan accordingly and execute the plans in the proper way. It is evident that leaving the Red Ocean and entering into Blue Ocean has been proved to be beneficial to a significant number of companies. This report has analyzed the importance and the circumstances of the execution of the blue ocean strategies. It also records how this strategy has helped me professionally to survive with my company. References: Chandrakala, V. G., Devaru, S. D. B. (2013). Blue ocean strategy and bottom of the pyramid marketing.International Journal of Management Research and Reviews,3(7), 3080. Leibtag, A. (2013).The digital crown: winning at content on the web. Newnes. Mickey, S. F. (2013). Constructing The Prophet: Steve Jobs and the Messianic Myth of Apple. Randall, R. M. (2015). W. Chan Kim and Rene Mauborgne dispel blue ocean myths.Strategy Leadership,43(2), 11-14. Sull, D., Homkes, R., Sull, C. (2015). Why strategy execution unravelsand what to do about it.Harvard Business Review,93(3), 57-66. Williams, J. C., Platt, A., Lee, J. (2015). Disruptive innovation: new models of legal practice.Hastings LJ,67, 1.