MGMT 449 Chapter Notes - Chapter NOTE: Ford Model T, Blue Ocean Strategy, Ryanair
Document Summary
Thesis the economy has been developed for a long time, with many fields of production and business to meet market demand. Competition between businesses is inevitable when businesses join late. To develop in a large traditional market, it is required that businesses have a suitable business strategy. The reading blue ocean strategy by w. chan kim and rennee mauborgne, introduced a business strategy that help viewers have better understanding on competitive advantage of firms in various industries. Blue ocean vs red ocean are two different types of firms in business. Red oceans are companies that compete in the known market space, in contrast with blue oceans, where they make their own distinctive market based on the specialties in their services/product that they get to offered. These two types of firm work side to side in the business world and have separated themselves like oil and water.