MAN 320F EXAM 2 AROIAN with comprehensive Questions and
Answers
Blue Ocean Strategy✔️✔️strategy where it includes all industries not in existence, unknown
market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy✔️✔️all industries in existence, the known mkt space
industries never stand...✔️✔️still
strategic move✔️✔️the set of managerial actions and decisions involved in making a major
market-creating business offering
with technology & globalization, it has led to what?✔️✔️accelerated commodization
where brands become more similar, ppl buy more on price
The iPod was so successful because it was a✔️✔️fully-integrated product
What does it mean...blue ocean?✔️✔️creating a new group of consumers
most are created from within red oceans
what is the key to success?✔️✔️market opportunity
Value innovation✔️✔️low costs
high buyer value
red vs blue ocean strategy✔️✔️Red:
, compete in existing mkt space, beat competition, exploit existing demand, focus on value-cost
trade-off, make decision to differentiate through strategic choice and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand, focus on differentiation &
low costs, reconstructionist view
the winning strategic approach involves✔️✔️value innovation
you break the value-cost trade off by✔️✔️enhancing a limited set of key factors and reducing or
eliminating all other traditional
ex: microsoft office vs open office
strategic plan✔️✔️comprehensive plan that identifies the critical direction and guides the
allocation of resources
strategic management✔️✔️1) analyze and learn from stakeholders
2) establish strategic direction
3) create strategy
4) execute it
(all in effort to please stakeholders)
broad environment includes...✔️✔️1. sociocultural trends
2. technological trends
3. political trends
4. economic trends
the task environment includes...✔️✔️the closest stakeholders
1. customers
2. suppliers.
Answers
Blue Ocean Strategy✔️✔️strategy where it includes all industries not in existence, unknown
market space
going where the profits and growth is, not where the competition is
Red Ocean Strategy✔️✔️all industries in existence, the known mkt space
industries never stand...✔️✔️still
strategic move✔️✔️the set of managerial actions and decisions involved in making a major
market-creating business offering
with technology & globalization, it has led to what?✔️✔️accelerated commodization
where brands become more similar, ppl buy more on price
The iPod was so successful because it was a✔️✔️fully-integrated product
What does it mean...blue ocean?✔️✔️creating a new group of consumers
most are created from within red oceans
what is the key to success?✔️✔️market opportunity
Value innovation✔️✔️low costs
high buyer value
red vs blue ocean strategy✔️✔️Red:
, compete in existing mkt space, beat competition, exploit existing demand, focus on value-cost
trade-off, make decision to differentiate through strategic choice and low costs
Blue:
create new mkt space, competition= irrelevant, creating new demand, focus on differentiation &
low costs, reconstructionist view
the winning strategic approach involves✔️✔️value innovation
you break the value-cost trade off by✔️✔️enhancing a limited set of key factors and reducing or
eliminating all other traditional
ex: microsoft office vs open office
strategic plan✔️✔️comprehensive plan that identifies the critical direction and guides the
allocation of resources
strategic management✔️✔️1) analyze and learn from stakeholders
2) establish strategic direction
3) create strategy
4) execute it
(all in effort to please stakeholders)
broad environment includes...✔️✔️1. sociocultural trends
2. technological trends
3. political trends
4. economic trends
the task environment includes...✔️✔️the closest stakeholders
1. customers
2. suppliers.
