"Blue ocean strategy" book report. Business & Marketing Essay (Essay Sample)
Write a reading report on the book of your choice from the list below:
Formatting: none, other than TNR 12pt, 1.5 space, with name, course and date. No cover page. 5 pages maximum. Upload to Canvas in Word.
Context: Book type, title, author bio, setting, date. (1 page)
Synthesis: Summary of book by sections or chapters (15 pages max).
Theme: Main topic, arguments and points made (3 pages).
Critique: Your review and opinion (1 page)
“Blue Ocean Strategy” Book Report
“Blue Ocean Strategy” Book Report
W. Chan Kim and Renee Mauborgne are the authors of the book Blue Ocean Strategy. Both writers elucidate how companies can succeed and control the market by eliminating wrangles related to competition and supremacy in the text. Arguably, most organizations find themselves in heated battles trying to win customers’ hearts through various marketing incentives. Some of these incentives include discounts on commonly used commodities and customer loyalty awards. Research suggests that most companies engage in competition because of the desire to achieve sustainable and profitable growth (Kim & Mauborgne, 2005).
However, in doing so, most organizations end up being involved in a “red ocean.” Amazon, eBay, and Alibaba are relevant illustrations of the significance of making the competition irrelevant. Besides, Kim and Mauborgne (2005) posit that Cirque du Soleil is a perfect example of why it is essential to make competition irrelevant. Cirque du Soleil is arguably Canada’s largest cultural export. Instead of competing with other companies in Canada, Cirque du Soleil created uncontested new market space, making the precedent competition irrelevant. Blue ocean refers to the strategy to create and explore new markets, which is ideal for eliminating unhealthy business rivalry. Creating new markets is imperative for companies since it leads to profitable growth and conquering of new markets.
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