Blue ocean approach

Document Type:Essay

Subject Area:Management

Document 1

It majorly focuses on creating a sovereign marketplace to outwit competitors from the game. It depends more on the innovative and creative approaches in the search for new opportunities and markets (Kim and Renée, p 29). The strategy describes some practical and conceptual tools necessary for use in both organizations and enterprises in the public sector which are appropriate for the systematic use and search for non-competitive markets and new market opportunities. The paper will discuss blue ocean approach strategy. To sum up, Coca-Cola company should consider factors such as raising the service or product standards. There are four principles of blue ocean strategy formulation which addresses how firms can create a blue ocean (Kim and Renée, p 22). The four principles comprise concentrating on the big picture, getting the strategic order right, creating unconcealed market space through renovating market limits and reaching past existing supply and demand in the new market spaces.

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