Assignment:
Blue Ocean Strategy
In 1984, two Canadian street performers decided to form a performance troupe that combined circus styles from around the world with ballet and theatre. These two street performers tapped into a ‘blue ocean' of opportunity, attracting customers from the dying industry of the traditional circus, and giving ballet and theatre customers something new and exciting to attend. Today, Cirque du Soleil is a multi-billion dollar enterprise and holds major performances all over the world.
Blue Ocean Strategy is a business strategy in which organisations create demand by tapping into unknown markets to find new consumers. Cirque du Soleil is an excellent example of an organisation that has successfully used Blue Ocean Strategy, you will share your ideas about how Blue Ocean Strategy might apply in your own organisation.
To prepare for this assignment:
1. Focus on how Blue Ocean Strategy might impact an organisation.
2. Search the Internet to discover other examples of organisations that may have used Blue Ocean Strategy.
3. Consider how Blue Ocean Strategy could be used by an organisation with which you are familiar. (Could be any on the internet)
Questions :
1. Post an explanation of how Blue Ocean Strategy might be applied in the organisation in which you work, or an organisation with which you are familiar. Be specific and provide examples, and support your arguments with appropriate citations. In your post, also discuss strengths and limitations of Blue Ocean Strategy and how they might impact the organisation.
2. While doing research, if you find an alternative business strategy that interests you, share the strengths and limitations of that strategy in addition to Blue Ocean Strategy.