Business Finance 2023 Blue Oceans Strategy In Chapter Theory
after reading the assigned textbook chapter one student per team will answer 2023
after reading the assigned textbook chapter, one student per team will answer a set of chapter-related questions (listed on CC) based on an imaginary business using a random word generator (https://wordcounter.net/random-word-generator; generate 3 words and be creative). Importantly, exhibit critical thinking. (No need to summarize the chapter.) Format: about 2-3 pages long, 1” margins, Times New Roman 12 point font, 1.5 line spacing, with page numbers.
So pretty much makeup company based on 3 randomly generated words
Answer following questions
· Describe what does your firm do; what is your product or service? ; be sure to explain its position on the product value chain (i.e., is in manufacturing, wholesale, retail, etc.).
The four characteristics of a Red Ocean industry are: Compete in existing market space; Beat the competition; Exploit existing demand; and Make the value / cost trade-off
· Show that your industry is in a Red Ocean, based on the above four characteristics.
The four characteristics of a Blue Ocean Strategy are: Create uncontested market space; Make the competition irrelevant; Create & capture new demand; and Break the value / cost trade-off.
· Show that your product constitutes a Blue Ocean strategy (based on the above four characteristics).
· Show how the Four Actions framework works for your product.
· Draw the Strategy Canvas for your product, explain what it shows.
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