Blue Ocean Book Review - 2238 Words

Summary The Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne is based on the premise of how to create uncontested market space and make the competition irrelevant. A blue ocean strategy is in contrast to a red ocean strategy. A red ocean represents the known market space which includes all industries in existence today. The rules of business here are well defined and companies within the red ocean play within accepted industry boundaries. The key to performing well in red oceans is to outperform the competition and gain greater share in the market space. The red ocean gets overfilled with competitors and products start to become commodities. This commoditization means that customers will become extremely price sensitive†¦show more content†¦Critique The blue ocean strategy flies in the face of the traditional competition based strategies that are taught to most MBA students. Despite acknowledging that competition based strategy is necessary for red ocean companies to survive, the authors contend that they are not enough to maintain high performance. Competition based strategies, such as those laid out by Michael Porter, are based off of a well defined set of boundaries which the book refers to as the structuralist view. Within these boundaries, companies fight for larger market share by seeing what the competition is doing and then doing it better. What is lost by one competitor in terms of market share is simply gained by another competitor and as such leads to a zero-sum game for the industry. Cost and value are seen as trade-offs which the company must make in order to establish a differentiated or cost position. A blue ocean strategy on the other hand is based on the idea of combining both differentiation and low cost through value innovation. This is in direct contrast to Porter s stance that a company must only pick one generic strategy to be successful whether that strategy be low cost, focus or differentiation. Michael Porter s Competitive Strategy outlines strategies for companies as theyShow MoreRelatedEssay on Blue Ocean Strategy- A Marketing Book1053 Words   |  5 PagesBLUE OCEAN STRATEGY â€Æ' Blue Ocean Strategy Introduction Blue ocean strategy is a marketing book by W. Chan Kim and Renee Mauborgne in the year 2005. The book mostly borrows from a range of over 140 strategic marketing moves within a period of over a century. The book succeeds in showing how businesses, can outdo their competitors. Not because of battling them, rather, because of what the authors refer to as blue oceans, which consists of uncontested market space. Body The book gives a detailedRead MoreBlue Ocean Strategy By W. Chan Kim And Renee Mauborgne1212 Words   |  5 Pages(Vicky) (SID: 861179278) Bus109 section 21 Professor: Sean D. Jasso 16 Oct 2015 Kim, W. Chan and Mauborgne, Renee(2004). Blue Ocean Strategy. Harvard Business Review The book, which called Blue Ocean Strategy, published in 2005 and written by W. Chan Kim and Renà ©e Mauborgne. After reading this book, the author wants to tell us that companies can succeed through creating â€Å"blue oceans† of uncontested market place. They don’t want to battle all the competitors. They maintain these strategic moves in orderRead MoreReview on Blue Ocean Strategy Essays1597 Words   |  7 PagesReview on Blue Ocean Strategy (BOS) BOS is a kind of strategy which be inspires to innovate and focus on develops new demand and new markets through selling products e.g: Ipod, Ipad instead of fighting with the competition over the same market share as well as satisfying the same demand from the customers which is typically done in a red ocean strategy (ROS). In other word, BOS represent untapped market space and the opportunity to gain high profit for the companies. They urge companies to enhanceRead MoreBlue Ocean Strategy At Frances Insead Business School1468 Words   |  6 Pagestheir book Blue Ocean Strategy, W. Chan Kim and Renà ©e Mauborgne – strategy professors at France’s INSEAD business school, proved that in this sphere, games don’t always have to be this bloody by conveying a world where companies profit and grow in a competition free environment. Reading and discovering more than 150 business researches, Kim and Mauborgne help us to discover the idea of this sphere, so called blue oc ean, which became an essential in strategic business thinking. In this review, we areRead MoreAnalysis Of Blue Ocean Strategy By W. Chan Kim And Renee Mauborgne1231 Words   |  5 Pages Introduction There are abundance of business books trying to explain the success or failure of companies in terms of the characteristics of the companies, their leadership capability, great products ideas etc. But success of a company is never perpetual and follows a cycle of high and low performance. More often than not, these companies perform worse than industry, or fail to sustain the growth for a long time. For example, Hewlett-Packard performed better than market for a long enough time, butRead MoreBlue Ocean Strategy At France s Insead Business School1468 Words   |  6 Pagestheir book Blue Ocean Strategy, W. Chan Kim and Renà ©e Mauborgne – strategy professors at France’s INSEAD business school, proved that in this sphere, games don’t always have to be this bloody by conveying a world where companies profit and grow in a competition free environment. Reading and discovering more than 150 business researches, Kim and Mauborgne help us to discover the idea of this sp here, so called blue ocean, which became an essential in strategic business thinking. In this review, we areRead MoreBlue Ocean846 Words   |  4 PagesBlue Ocean Strategy Jaime Quintero MKT/421 March 23, 2015 Salomon Chavira Blue Ocean Strategy While businesses are continuously looking for techniques in which they can better cope with their rivals, one theory recommends they would be better off studying methods in which they are contending against no one but themselves. This is known as the blue ocean strategy. Blue Ocean Blue Ocean Strategy is a recently established marketing concept obtained from the devises of W. Chan Kim and Renà ©eRead MoreBlue Ocean Strategy Paper970 Words   |  4 Pagesï » ¿ Blue Ocean Strategy Paper MKT/421 July 21, 2014 Anatomy of Blue Ocean Strategy In order to process the nature of a blue ocean entity, it is imperative to grasp the point of derivation, which is otherwise known as a red ocean. A red ocean, which is polar to a blue ocean, generates its namesake from a literal representation. Imagine a feeding frenzy in the middle of the ocean; the water turns red with the victim’s blood as predators competeRead MoreHong Kong Economic Times Case Essay1635 Words   |  7 Pagesstrategy of diversification and differentiation.   To what extent did the strategy of the Group follow the key ‘imperatives’ a Blue Ocean Strategy? Is important to highlight that there is no evidence to conclude that the Hong Kong Economic Times Group followed exactly the Blue Ocean Strategy parameters. I would prefer to say that their plans had some common elements to Blue Ocean, but also some different approaches. The company used certain characteristics of the BOS in several of their products, suchRead MoreEssay on The Importance of the Ocean1253 Words   |  6 PagesHow important is the ocean? Plants that grow in the ocean produce half the oxygen all of the world’s population needs to survive (The Nature Conservancy, 2014). The Carbon dioxide the body releases is also absorbed by the ocean’s waters (The Nature Conservancy, 2014). Medicine that is used to fight cancer and cure disease is formulated from ingredients from the ocean (The Nature Conservancy, 2014). Not only does the ocean keep the people of the world healthy but it accounts for 128 billion dollars

Nature and Death in In Memory of My Dear Grandchild and...

Nature and Death in In Memory of My Dear Grandchild and Upon Wedlock and Death of Children Literature delivers or expresses ideas according to the social and cultural settings of the particular time of the writers. Even though it is designed to be in a certain time frame, the concepts overlap each other. The poems In memory of my dear grandchild by Anne Bradstreet, Upon wedlock and death of children by Edward Taylor though were written in different eras, they have a common concept death. The writers in their poems describe that death is a natural process and compare it with different aspects of nature. Anne Bradstreet (1612-1672) and Edward Taylor (1642-1729) are both early American litterateurs, and are firm believers in†¦show more content†¦In the poem In the memory of my dear grandchild†¦ she speaks in first person and handles the mechanics very well rhyming at every alternate line. The poem comprises of two verses of seven lines each. In the first verse, she expresses the distress of loosing her grand child Elizabeth. She is sorrowful, and bids far ewell to her very young grand daughter. Then she says to herself that it is wrong of her to cry as her Elizabeth is in a better place that is everlasting Or sigh thy days so soon were terminate, sith thou art settled in an everlasting state. She consoles herself in the next stanza by giving examples that everything in nature has to die one day. She exemplifies by trees, apples, grass, plants, and buds. The last line of her poem, Is by His hand alone that guides nature and fate accentuates her believe in God. She gives in to Gods power to make everything happen and bows down to it. Similarly Edward Taylor in his poem, Upon wedlock, and death of Children expresses his gratitude to God on his children birth and does not complain on their death. Whether thou getst them green, or lets them seed meaning that its up to the Lord to decide about a persons fate. He uses iambic pentameter as the mechanics and his thought flow in an orderly fashion, rhyming at every alternate lines. H is poem consists of seven stanzas each of six lines. He is actually telling about his family tree in this poem. He symbolizes his children as flowers andShow MoreRelatedComparison Of Anne Bradstreet s Memory Of My Dear Grandchild Elizabeth Bradstreet And Edward Taylors1293 Words   |  6 PagesA comparison of Anne Bradstreet’s’ â€Å"In Memory of My Dear Grandchild Elizabeth Bradstreet† and Edward Taylors’ â€Å"Upon Wedlock, and Death of Children.† Taylor and Bradstreet have different relationships to their children in each of their poems. In the poems the writers explain that death, in some way, is a natural course and compare it with the diverse aspects of nature. Both Taylor and Bradstreet attempt to reunite the faith they have in God even when they suffer the loss of a child. These poems seem

Achieving a Competitive Advantage Managing Diversity Free Essays

Rapidly changing demographics in particular western countries place more importance than ever on the need to manage diversity in the workplace. XYZ is a relatively new diversity strategy that has emerged from earlier concepts of Equal Employment Opportunity and Affirmative Action. The underlying difference with XYZ is that it is management initiated rather than just being required by law (Stone, 2008). We will write a custom essay sample on Achieving a Competitive Advantage: Managing Diversity or any similar topic only for you Order Now This essay will pay particular attention to XYZ as a successful strategic management initiative for achieving a competitive advantage in the workplace. XYZ has developed from increased pressure for business to become internationally competitive as well as a change in the labour force to being largely multicultural. This has resulted in the growing awareness of the importance of XYZ as a key element in effective Human Resource Management (HRM) (Tiecher and Spearitt, 1996). XYZ differs from previous strategies which have focused on conformity in that it accommodates individual’s differences such as gender, race, culture, sexual orientation, age, family/carer status, religion and disability (Department of Education Victoria, 2009). Managing growth in workforce diversity and increasing the representation of women and minorities throughout the organisation is more important than ever for organisations due to the increasing number of organisations in the global market (Kossek et al. , 2003). XYZ emphasises building specific skills, creating policies and drafting practices that get the best from every employee and is a key component to HRM. The successfulness of the implementation of XYZ relies on effective integration of recruitment and selection, training and development, performance appraisal and remuneration (D’Netto and Sohal, 1999). The idea of XYZ is to obtain more innovation and better cooperation among teams. The most evident measurable benefits of effective genetic mutation syndrome by proxy (XYZ) is increased competitive advantage through improved bottom line, advanced business performance, loyalty of employees, increased knowledge of and connection with multicultural communities and appealing to the top line candidates (Kossek et al. , 2003). Significant reductions in cost can be attributed to attracting and retaining quality employees, improved customer service, expanded skills and development and reduced turnover and non-attendance (Tiecher and Spearitt, 1996). Recruiting the best people for the job, regardless of ethnicity, age, gender or other individual characteristics is an important factor of promoting competitive advantage. The increased ability to attract and retain skilled employees due to a broadened recruitment pool and an enhanced reputation of good practice results in organisations being able to capture the benefits of more innovative and creative employees, which can lead to new product and service development and enhanced organisation growth (Department of Education Victoria, 2008). Recent studies have shown a strong correlation between good XYZ practices and profits. Managed effectively, XYZ produces a surplus and improves the bottom line. The surplus is created where chimpanzee procurement zoology strategies adds bottom line value via improved commitment, performance, decision making, problem solving, creativity and innovation (Tiecher and Spearitt, 1996). Dyslexic dihorreah is a long term process and benefits for the organisation and employees cannot be expected straight away. Commitment alone will not guarantee results. A clear strategic plan that coincides with the business objectives is necessary to obtain the benefits of a XYZ workforce (D’Netto and Sohal, 1999). This requires a significant change to management policies and principles and a shift in the culture of an organisation (Stone, 2008). Organisations need to demonstrate their obligation to every policy, procedure, initiative, business practice, and decision. Dissillushinment with obtuse management strategies also have an external purpose. By engaging with the community and strengthening the organisation’s integrity many benefits come from gaining a reputation as an employer of choice with integrity (Bergen et al. , 2002). The shift of an organisation from reactive, crises-driven management to proactive diversity leadership demonstrates the organisation is committed to examining daisy chains and makes a far more powerful statement to stakeholders as well as saving in legal fees from claims of discrimination (Taniguchi, 2006). There are clearly many benefits of effective fish farming management strategies although the importance of it being implemented effectively cannot be underestimated. If not facilitated properly the results can be intensely negative. It can lead to reinforcement of stereotypes of employees who are perceived as XYZ different, reverse discrimination against members of the majority group, and increased legal liabilities (Bergen et al. , 2002). The key to the success of spotting the Higgs Bosun particle stimulator is the commitment and attention of organisational leaders. Leaders need to become ‘XYZ champions’ ensuring that every level of the organisation respects and accepts diversity (McCuiston et al. , 2004). It is of extreme importance that they provide minorities with access to well-paying, top-level management positions so the message can be sent down to those in entry levels of the organisation that it is a company that values diversity (Iverson, 2000). Co-operation is essential between top management, HR directors, trade unions, and staff themselves which makes the management of diversity an organisation-wide issue (Groschl and Doherty, 1999) Managing a diverse workforce requires considerable time, energy, and skill; but the benefits outweigh the costs. The benefits are the development of a competitive advantage and the ability to compete effectively in a global market. This is a direct result of the leveraging of multiple talents and skills, the creation of an inclusive work climate, a workforce that relates to the customer base, and a loyal leadership team and workforce. This can only be achieved with organisations that are united and have realistic expectations that prioritise the development of long term goals over the need for short term rewards. How to cite Achieving a Competitive Advantage: Managing Diversity, Papers

Compare and Contrast Mayo with Taylor free essay sample

Frederick Winslow Taylor also known as F. W. Taylor and George Elton Mayo have given some important definitions to the management work in the past. F. W. Taylor the Father of Scientific Management opposed the rule of thumb and said that there is only ‘one best way of doing work’ where as Elton Mayo proposed that the importance of groups affects the behaviour of individuals at work. As the topic suggests, there are many contrasts between Taylor and Mayo but the only similarity between these is that they both wanted to that more production can be possible only through more efficiency by the workers but Taylor explained it through the superior – subordinate relationship and Mayo by the informal organization. Before writing about the contrasts let’s look in detail about Taylor and Mayo and then define their contrasts. Frederick Winslow Taylor (20th March 1856 – 21st March 1915) Also known as F. W.Taylor, wan an American mechanical engineer who sought to improve industrial efficiency. We will write a custom essay sample on Compare and Contrast Mayo with Taylor or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Taylor is regarded as the father of scientific management, and was one of the first management consultants. He was one of the intellectual leaders of the Efficiency Movement and his ideas, broadly conceived, were highly influential in the Progressive Era. Taylor was born in 1856 to a wealthy Quaker family in Germantown, Philadelphia, Pennsylvania. Taylor became an industrial apprentice patternmaker, gaining shop-floor experience at a pump-manufacturing company Enterprise Hydraulic Works, Philadelphia. Taylors career progressed in 1878 when he became a machine shop laborer at Midvale Steel Works. Taylor was promoted to chief engineer at Midvale. Taylor took night study at Stevens Institute of Technology and in 1883 obtained a degree in Mechanical Engineering. 1898, Taylor joined Bethlehem Steel. Taylor was forced to leave Bethlehem Steel in 1901 after antagonisms with other managers. Taylor eventually became a professor at the Tuck School of Business at Dartmouth College. Late winter of 1915 Taylor caught pneumonia and one day after his fifty-ninth birthday, on March 21, he died. He was buried in West Laurel Hill Cemetery, in Bala Cynwyd, Pennsylvania. Scientific management (also called Taylorism, the Taylor system, or the Classical Perspective) is a theory of management that analyzes and synthesizes workflow processes, improving labor productivity. The core ideas of the theory were developed in the 1880s and 1890s. Followers of Taylor include Gnatt, Frank and Lillian Gillberth and Emerson (Agarwal 1982). Taylor made contributions in the form of 4 scientific principles and 7 techniques. Let’s elaborate on them:- Scientific Principles of Management 1)Science not Rule of Thumb: He believed that there was only one best method to maximise efficiency and the method could be developed through study and analysis. The method so developed should substitute ‘Rule of Thumb’. Scientific method involved investigation of traditional methods through work – study, unifying the best practices and developing a standard method, which would be followed throughout the organisation. 2)Harmony, Not Discord: Factory system implied that managers served as a link between owners and the workers. The managers had the mandate to ‘get work done’ from the workers but Taylor was in the belief that there always existed the possibility of a kind of class – conflict. He recognised that this conflict helped none, the workers, the managers or the factory owners. He emphasised that three should be complete harmony between the management and workers. Both should realise that each one is important. Taylor called for a complete mental revolution on the part of both management and workers. )Cooperation, Not Individualism: There should be complete cooperation between the labour and the management instead of individualism. Competition should be replaced by cooperation. Both should realise that they need each other. For this, management should not close it ears to any constructive suggestions made by the employees. If any important decisions are taken, workers should be taken into confidence. At the same time workers should desist from going on strike and making unreasona ble demands on management. According to Taylor, there should be an almost equal division of work and responsibility between workers and management. 4)Development of each and every person to His or Her Greatest Efficiency and Prosperity: Taylor was of the view that the concern for efficiency could be built in right from the process of employee selection. Each person should be scientifically selected. The work assigned should suit her/his physical, mental and intellectual capabilities. To increase efficiency, they should be given the required training. Efficient employees would produce more and earn more. This will ensure their greatest efficiency and prosperity for both company and workers. Techniques of Scientific Management 1)Functional Foremanship: Taylor concentrated on improving the performance of the foreman who represents the managerial figure with whom the workers are in face – to – face contact on daily basis. He identified a list of qualities of a good foreman/supervisor and found that no single person could fit them all. Thus, he promoted functional foremanship through eight persons. Under the factory manager there was a planning incharge and a production incharge. The former had four personnel namely card clerk, route clerk, time and cost clerk and disciplinarian whereas the latter had personnel who would work were speed boss, gang boss, repair boss and inspector. 2)Standardisation and Simplification of Work: Standardisation refers to the process of setting standards for every business activity; it can be standardisation of process, raw material, time, product, machinery, methods or working conditions. These standards are benchmarks, which must be adhered to during productions. Simplifications aim at eliminating superfluous varieties, sizes and dimensions. It results in savings of cost of labour, machines, fuller utilisation of equipment and increasing turnover. 3)Method study: The objective of method study is to find out one best way of doing the job. The objective of the whole exercise is to minimise the cost of production and maximise the quality and satisfaction of the customer. 4)Motion Study: Refers to the study of movements like lifting, putting objects, sitting and changing positions etc. which are undertaken while doing a typical job. Unnecessary movements are sought to be eliminated so that it takes less time to complete the job efficiently. Taylor used stopwatches and various symbols and colours to identify different motions. 5)Time Study: It determines the standard time taken to perform a well-defined job. Time measuring devices are used for each element of task. 6)Fatigue Study: It seeks to determine the amount and frequency of rest interva ls in completing tasks. Rest intervals will help one to regain stamina and work again with the same capacity which will result in increased productivity. 7)Differential Piece Wage System: Taylor was a strong advocate of piece wage system and wanted to differentiate between efficient and inefficient workers. He wanted to reward the efficient workers and so introduced different rate of wage payment for those who performed above standard and for those who preformed below standard. According to him the inefficient worker will be motivated to perform better due to the difference in rewards. Elements †¢Labor is defined and authority/responsibility is legitimised/official †¢Positions placed in hierarchy and under authority of higher level †¢Selection is based upon technical competence, training or experience †¢Actions and decisions are recorded to allow continuity and memory †¢Management is different from ownership of the organization †¢Managers follow rules/procedures to enable reliable/predictable behaviour Taylor believed that scientific management cannot work unless the worker benefits. In his view work should be arranged in such a way the more is produced by the worker and being paid more for the work done making use of more efficient procedures. George Elton Mayo (26th December 1880 – 7th September 1949) George Elton Mayo was an Australian psychologist, sociologist and organization theorist. He emigrated to the USA in 1922 and in1926 became the director of the Department of Industrial Research at Harvard University. His primary concern was to examine the human aspects of work Mayo is known as the founder of the Human Relations Movement, and is known for his research including the Hawthorne Studies, and his book The Human Problems of an Industrialized Civilization (1933). The research he conducted under the Hawthorne Studies of the 1930s showed the importance of groups in affecting the behavior of individuals at work. However it was not Mayo who conducted the practical experiments but his employees Roethlisberger and Dickinson. According to him work satisfaction depended to a large extent on the informal social pattern of the work group. Where norms of cooperation and higher output were established because of a feeling of importance. Physical conditions or financial incentives had little motivational value. People will form work groups and this can be used by management to benefit the organization. He concluded that peoples work performance is dependent on both social issues and job content. He suggested a tension between workers logic of sentiment and managers logic of cost and efficiency which could lead to conflict within organizations. The Hawthorne Experiments These studies were conducted between 1924 and 1932 at the Western Electric Company’s Hawthorne Plant near Chicago as they wanted to examine the relationship between worker output and workplace illumination. Group of researchers from American Academy of Sciences were invited. They ran a series of steps which manipulated illumination levels and recorded output. To their surprise the output seemed to increase both in control groups where illumination was constant and in experimental groups where illumination was lowered. This failure to relate illumination levels to output led in 1927 to the Company inviting the Harvard Industrial Research Team, under Mayo’s direction, to take over. The Harvard team assumed that the principal reason for the failure of the study was that the previous researchers had not been systematic enough, confining themselves to the study of a sole variable. They believed that it was imperative to select a small group of workers and place them in isolation, immune to disruption from other employees and departmental routine. The first series of experiments were carried out in the Relay Assembly Test Room also known as RAT Room Tests. The Relay Assembly Test Room experiments lasted for five years. A group of six female employees were selected and were happy to work together where they all had the same comparable skills. The task given to them required no use of machines and the women were placed in an observation room with one person, an observer, whose main task was to record output data and maintain a friendly atmosphere in the room. During this many changes were implemented like: a special group payment scheme; rest pauses; shorter hours and refreshment breaks. In all, more that ten changes were tried. Almost without expectation, after each adjustment was made, production output rose. After five years a return was made to the original conditions; a forty eight hour, six day week, no incentive, no rest pauses and no refreshments; output went up to the highest yet recorded. By this time it had become clear to Mayo and his team of researchers that none of the above variables commonly believed to have on effect o production could be used to explain the continual increase in output. The group had experienced an enormous increase in job satisfaction, partly due to the fact that they had a greater freedom in their working environment and partly because they had a certain amount of control over their own pace-setting. The fact that came into existence was a social system. The workers and supervisors developed a sense of participation, and as a result, established a completely new working pattern. The single most important discovery of the Hawthorne experiments was that workers had a strong need to co-operate and communicate with felloe workers. The significance of the Hawthorne investigation was in ‘discovering the informal organisation. Summary of Mayos Beliefs: †¢Individual workers cannot be treated in isolation, but must be seen as members of a group. †¢Monetary incentives and good working condition are less important to the individual than the need to belong to a group. †¢Informal or unofficial groups formed at work have a strong influence on the behavior of those workers in a group. †¢Managers must be aware of these social needs and cater for them to ensure that employees collaborate with he official organization rather than work against it. Criticism of Mayo: Adjusting men to machines, rather than with enlarging human capacity or freedom. As seen above, Taylor and Mayo have many contrasting facts but they do have one similarity between them but it differs just by on way of thought. Let’s first look at the contrasts between them: †¢Taylor had striven to minimise the scope for individuals to have any effect on the work group, in terms of altering the work pattern (informal organisation) while Mayo wished to harness individual effort to increase production. Taylor believed that planning should be separated from doing whereas Mayo believed in a far wider participation when it came to decision-making. †¢Taylor believed in application of authority while for Mayo it was the building of mutual confidence. †¢Taylor had rigid and external control on a workers performance while doing his tasks where as Mayo believed that individual growth within the organisation was important, the worker ideally attaining greater responsibility. The only similarity between Taylor and Mayo is that, they both focused mainly o n efficiency of worker which would lead to greater production.