Another compelling aspect of Cirque du Soleil’s success is that it did not win by taking customers from the already shrinking circus industry, which historically catered to children. BOS0010A This case was written by Pinal Shah under the direction of Joel Sarosh Thadamalla, IBSCDC. Our analysis shows they took a blue ocean approach. Consumers’ perception. In the final chapter recommendations for improvement of the Blue Ocean Strategy are provided for creating a theory that is even more valid and reliable. For now, Shake Shack is in full swing and expanding its operations around the world. They want a nice place to hang out with their friends in an atmosphere that does not feel like a standardized food chain and comes without the hefty price of premium dining. The result is a full dining and drinking experience that is both fun and affordable. The success of these companies is largely dependent on huge media expenditure and economies of scale. Blue Ocean Strategy; Strategic Planning That Sticks; Cost Leadership or Benefit Leadership; Game Theory Basics: Part 1; Game Theory: Location; Industry Trend Analysis; Acquisition Strategy Template; Strategy Case Studies; Case Studies. Dies schließt die vorhe-rige Existenz der Märkte jedoch nicht aus. Shake Shack invests heavily in staff training to make sure all staff offers a high level of customer service. This combination of your local restaurant and a typical fast food franchise creates a brand new experience bringing in customers, who may not be attracted to either category. Blue Ocean Strategy Competing in overcrowded industries is no way to sustain high performance. Customers are generally the young middle-class segment that can afford to pay a relatively higher price for fast food. The restaurant industry can be segmented into three major categories: Premium restaurants represent 48% of the industry but it is a highly fragmented market, consisting of many small businesses rather than a few big ones. Customers have plenty of fast food options to choose from, making price an important competitive factor in this category. The research of W. Chan Kim and Renée Mauborgne focused on discovering the common factors that lead to the creation of blue oceans and the key differences that separate those winners from the mere survivors and those adrift in the red ocean.The database and research have continued to expand and grow over the last ten years since the first edition of the book was published and the strategic moves we studied depict similar patterns, whether blue oceans were created in for-profit industries, non-profit organizations, or the public sector. BLUE OCEAN STRATEGY How to Create Uncontested Market Space and Make the Competition Irrelevant Authors: W. Chan Kim ... QB House Case Study Speedy Barbershop The Strategy Canvas of QB Price Reservation Desk Extra Services Range of Hair treatments Hygiene Time Savings on waiting Time savings on haircut "air wash" The business has 15 years’ experience in SAP implementation and delivers services ranging from business process reviews to post-implementation technology support and continuing support. A Case Study on Salesforce.com. By focusing on strategies of competition in established industries, companies and researchers have overlooked the value of creating new market spaces where there are no competitors.These market spaces are called “blue oceans.” Although established industries (“red oceans”) are growing increasingly cluttered, few companies are currently attempting to create new markets. Shake Shack was able to attract three groups of noncustomers of premium fast food restaurants, as specified in Chan Kim & Renée Mauborgne’s three tiers of noncustomers framework. Premium natural ingredients: Shake Shack’s premium natural ingredients are at the center of its identity, both because of how the food tastes and because of their pedigree: 100% all-natural meat (vegetarian fed, humanely raised, antibiotic and hormone free, source verified, ground fresh from full-muscle cuts rather than scraps), non-GMO vegetable produce, zero artificial additives, real sugar instead of corn syrup and milk from dairy farmers who have pledge not to use artificial growth hormones. It is intended to be used as the basis for class discussion rather than to illustrate either effective or ineffective handling of a management situation. Cirque’s productions have been seen by more than 150 million spectators in more than 300 cities around the world. Our multimedia cases and interactive exercises are designed to help you build a deeper understanding of key blue ocean strategy concepts, developed by world-renowned professors Chan Kim and Renée Mauborgne. Blue oceans strategy is the approach that suggests a company is better off searching for ways to play in uncontested market places instead of engaging with competition in existing marketing spaces. Blue Ocean Strategy: From Theory to Practice Case Solution, Red oceans and blue oceans: The market universe is composed of two types of oceans. Blue ocean pedagogical materials, used in over 2,800 universities and in almost every country in the world, go beyond the standard case-based method. So how do you compete with the category killer such as McDonald’s with 34,000 restaurants? They refuse the premium dining experience because of its price. Whereas conventional strategic approaches drive companies to define their industry similarly and focus on being the best within it, blue ocean strategy prompts them to break out of the accepted Blue Ocean Strategy auf einen Markt abzielt, der unergründet ist und somit keinen Wettbewerb vorweist, werden bei den anderen Strategien oft bestehende Märkte als neu interpretiert, auf denen das Unternehmen bisher nicht agiert hat. We use cookies to ensure you get the best experience on our website and continuing implies your consent -, Chan Kim & Renée Mauborgne’s three tiers of noncustomers framework. It all starts with shifting the focus from better serving customers of an industry to identifying and converting noncustomers into customers. But to stay ahead of the game, the burger giant will need to find new ways to renew its blue ocean. Product Development (New Products/Existing Market) A growth strategy based on product development is the mirror image of a market development strategy. 120 doing a literature do not appear in sentence-initial exemplificatory infinitive clauses to paint next week. Community has since been the keyword for Shake Shack, and throughout the years, it has strived to become a community gathering place with its motto being ‘the bigger we get, the smaller we need to act’. Content s History Explanation of BOS with self made story Introduction and Definition Types of Strategy Comparison between RED and BLUE Blue Ocean Strategy & Strategic Positioning Six Principles of Blue Ocean Strategy Strategy Canvas and Four Action Framework Case Study 1 Case Study 2 3. The aim of Blue ocean strategy is not to out perform the competition in the existing industry, but to create new market space or a blue ocean. Many of Shake Shack’s executives have been groomed from within, and it’s not uncommon for hourly employees to get bumped up to a manager, general manager, and beyond. Presented by : Ashley Molina Niranjan Zende Siddharth Kumar Zain Yusuf What is a Blue Ocean ??? Blue Ocean Team. Today, it has become a global phenomenon with 180 locations globally and is expanding all the time. The case comes with teaching note, a one-page summary and lectures slides. However, the fragmented nature of this market means customers can easily find substitutes and new restaurants can enter the market relatively easily. 8 Industry insight. Blue ocean strategy, is a result of study of decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years (1880-2000). Blue ocean strategy. 18 pages. This generates a sense of locality and authenticity for Shake Shack’s stores, exuding the charm of a local mom-and-pop shop. Gourmet Fast Food: “Shake Shack is just an ordinary fast-food joint, said nobody ever”, writes a food critic. Eataly value curve and business model canvas. However, players in this category have two advantages. What makes this rapid growth all the more remarkable is that it was not achieved in a declining industry in which traditional strategic analysis pointed to limited potential for growth. Other players sought to reduce menu choices and improve quality such as the hamburger chain, Five Guys. Implementing the blue ocean strategy is, simply put, a gargantuan task. View blue ocean case.pdf from MANAGEMENT 101 at Ateneo de Zamboanga University. An in-depth case study on Cirque du Soleil’s blue ocean strategic move can be accessed here. Tipping: Shake Shack has also eliminated tipping, offering customers a worry-free dining experience. Despite its huge size, it represents a typical red ocean market dominated by McDonalds for now. Market players strive to maintain a reputation for delivering a unique, satisfying and memorable customer experience. But it's much more common for a blue ocean to be created from within a red ocean when a company expands the boundaries of an existing industry. The conclusion describes that the Blue Ocean Strategy could be assessed to a set amount as valid and reliable. Shake Shack’s blue ocean strategy has enabled it to achieve double-digit growth at a time when most market players are struggling to maintain modest growth. Blue Ocean Strategy Analysis While traditional approaches to corporate strategy, such as those presented by Porter, Oster, and Duggan emphasize victory through direct competition in existing markets, blue ocean strategy stresses the avoidance of conflict as key to long term commercial prosperity. Just because blue ocean space is almost competition-free, it’s not good to get too comfy because new competitors will emerge and beat you at your own game – a typical case where your blue ocean space slowly turns red. Significantly, one of the first Cirque productions was titled “We Reinvent the Circus.”. Red ocean strategists compete to win market share in traditional mature markets and pursue either a differentiation or cost leader strategy. ABMBC2 (Principles of Management & Marketing) For classroom discussion only CASE: The Blue Ocean Strategy … Blue ocean is nothing but an analogy to describe the wider, deeper potential of a market space that is yet to be explored. Instead of pioneering a new … We use cookies to ensure you get the best experience on our website and continuing implies your consent -, Cirque du Soleil’s blue ocean strategic move. Second is the weak bargaining power of their suppliers – fast food restaurants can negotiate the best deal as there are so many suppliers of meat, flour, and potatoes to choose from. Creating Value on the Vine: A [yellow tail] Case Study ... (Blue Ocean Strategy, p. 28) Conventional strategic logic—benchmarking competitors, choosing either differentiation or low cost, offering more for less, offering better solutions than your rivals to the existing … Blue ocean strategy Brand management Competition Customers Decision making Industry analysis Market analysis. At Shake Shack’s newest burger-and-shake joint that just opened in New York’s West Village on Tuesday, customers can order—in addition to its classic menu—new items like chick’n bites, black sesame shakes or cold brew matcha lattes that no other Shake Shack location in the U.S. serves yet. This case Alternative forms of entertainment —ranging from various kinds of urban live entertainment to sporting events to home entertainment—cast an increasingly long shadow. Blue ocean strategy focuses on the ability to create new market space where there is no competition and where the demand for the services becomes uncontested. Blue ocean pedagogical materials, used in over 2,800 universities and in almost every country in the world, go beyond the standard case-based method. Blue Ocean Strategy vs. Speed of Service: Fast food restaurants emphasize speed over customer care – a critical factor in the fast food industry. Shake Shack disposed of the notion that fast food had to be precooked or even prepared quickly. – The purpose with this article is to analyze the “Blue Ocean” phenomenon in depth. The first-tier of soon-to-be noncustomers for the premium fast food market are sitting at the edge of the market. tors, blue ocean strategy is about growing demand and breaking away from the competition. The Eataly case. Shake Shack’s emphasis on hospitality and friendliness is evident in its hiring policy that lists “fun, intelligent, super friendly, high energy individuals” as requirements for hiring staff, rather than the usual pedigree and experience. Red oceans are … A STUDY ON COMPARATIVE ANALYSIS OF RED OCEAN OF MICROSOFT AND BLUE OCEAN OF GOOGLE PRODUCTS STRATEGY AND ITS RISK FACTORS: AN BLUE OCEAN VS RED OCEAN MODEL This case deals specifically with the difficult market situation of an overcrowded and stagnating market and Henkel's resulting consideration to implement the blue ocean strategy. Unlike traditional fast-food chains, Every Shake Shack location is specifically designed with a unique aesthetic to fit contextually into their neighborhood but with essential branding elements repeated to maintain the restaurant’s essential character. There was also increasing sentiment against the use of animals in circuses by animal rights groups. Staff, who are called team members, are paid on an average $2 above minimum wage paid to workers in other fast food chains. Restaurant industry sales in the United States have been growing over the past decade and exceeded US$536 billion in 2016. HubSpot, an Internet Marketing company , is targeting a non-consuming market (small businesses only ) vs. targeting companies who already have information technology tools in place. 2017. Blue Ocean Strategy Competing in overcrowded industries is no way to sustain high performance. Consumer analysis. Cirque du Soleil succeeded because it realized that to win in the future, companies must stop competing in red oceans. Shake Shack restaurants are appearing in more and more cities across the world with always evolving localized menus with some items that are exclusive to each Shack. LG Electronics: The Blue Ocean Strategy Case Study Reference No. People flock to Shake Shack as a place to socialize rather than just another dining option. It is the idea of trying to find market spaces that are free of competitors by creating and caputuring new demand, making the competition irrelevant. Written by W. Chan Kim and Renée Mauborgne of INSEAD, Blue Ocean Strategy has sold over 3.6 million copies and is recognized as one of the most iconic and impactful strategy books ever written. Short Essay : A case study of blue ocean strategy - Netflix J oanne Lo Pui Ching_ (1004600634) According to our previous class, Blue Ocean Strategy stated that blue oceans make the competition irrelevant, rather than creating a business modelled after its more established competition. Also several shortcomings for the theoretical and practical part are mentioned. For the same purpose, Chapter 2 is primarily devoted to expose the concept of Business Model, along with the Osterwalder’s Business Model Canvas and the imperative Business Model Innovation. But not Shake Shack. Blue Ocean Strategy Australia While blue ocean space is a comfortable zone, it might be unhealthy for business leaders in the long run. This book not only challenges compa- nies but also shows them how to achieve this. In studying more than 150 blue ocean creations in over 30 industries, the authors observed that the traditional units of strategic analysis--company and industry--are of limited use in explaining how and why blue oceans are created. Ringling Bros. and Barnum & Bailey set the standard, and competing smaller circuses essentially followed with scaled-down versions. Not surprisingly, the fierce rivalry among competitors is accompanied by high marketing budgets. #BlueOceanShift and #BlueOceanStrategy are worldwide business strategy bestsellers, helping you to move beyond competing and start creating your #blueocean. Source: California Management Review. Empirical research. This blog article is a overview of some of the key points of the book by W. Chan Kim and Renée Mauborgne.In this article you will learn how to make your competition irrelevant and have sales and profit … This category of restaurants is huge. Case Studies. Our multimedia cases and interactive exercises are designed to help you build a deeper understanding of key blue ocean strategy concepts, developed by world-renowned professors Chan Kim and Renée Mauborgne. An in-depth case study on Cirque du Soleil’s blue ocean strategic move can be accessed here. “Blue Ocean Strategy and New Business Models in the Food Industry: ... extensively introduced as they will be further applied in the case-study section of this thesis. The job HubSpot is … Whether it is the quiet green and black color scheme, a modern sleek logo, or an open kitchen layout that is visible upfront rather than hidden in the back, Shake Shack attracts the millennial adult who is willing to pay more for an informal and comfortable dining and hangout experience. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. 8 Gone are the costs associated with building play places and offering happy meals. Founded in 2003, Blue Ocean Systems provides SAP Business One business management software to small and midsize companies. The second-tier are refusing noncustomers. Children cried out for video games rather than a visit to the travelling circus. Ping-Pong and foosball tables, bocce courts, giant life-size puzzles, local art installations all encourage customers to hang out longer. The business model. The result is a better overall customer experience that goes beyond the mere purchase of a hamburger. In this way, Shake Shack successfully gained those customers who used to go for cheaper options. And that is what Shake Shack did. Cirque du Soleil took the world by storm. Prod. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrel-evant, by W. Chan Kim and Renée Mauborgne, Harvard Business School Press, 2005. Rather than competing within the confines of the existing industry or trying to steal customers from rivals, Cirque developed uncontested market space that made the competition irrelevant. Traditional Competitive Strategies. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. Instead it created uncontested market space that made the competition irrelevant. Blue ocean pedagogical materials, used in over 2,800 universities and in almost every country in the world, go beyond the standard case-based method. By not competing, but rather by creating a new market space through the simultaneous pursuit of differentiation and low cost. Offering high-quality craft beers and specialty wines further propels Shake Shack to a new frontier. Or with a premium niche player that relies on higher pricing for premium food in the fast food category like Five Guys or Panera Bread? Shake Shack takes the cake for gourmet fast food classics, offering a modern-day take on retro roadside burgers, fries, hot dogs, frozen custards, shakes, and more. The real opportunity is to create blue oceans of uncontested market space. Identifying commonalities and differences among them, the case shows the causes and consequences of Amazon's at-once stellar performance and severe setbacks. by W. Chan Kim, Renee Mauborgne, Katrina Ling, × * * * * $8.95 × * * * * * * Quantity: Item: # BOS001 Weight: 1.00 LBS. Our multimedia cases and interactive exercises are designed to help you build a deeper understanding of key blue ocean strategy concepts, developed by world-renowned professors Chan Kim and Renée Mauborgne. Friendliness and Hospitality: At the center of Shake Shack’s mission is CEO Danny Meyer’s philosophy of “enlightened hospitality”, where the idea is to create a welcoming atmosphere first for employees, next for customers, and then for the outside community, suppliers, and, finally, investors. Also, premium restaurants do not have strong bargaining power with their suppliers. Shake Shack addresses this point not only by having environmentally friendly products but also through a corporate policy that supports local communities and doing good. It created a blue ocean of new market space. Entrepreneurship/Blue Ocean Strategy Blue Ocean Strategy Kim, W.C. and Mauborgne, R. (2004) DLWO/Minor Entrepreneurship/Cases in Entrepreneurship/Blue Ocean Strategy Failing Forward: Real options reasoning and entrepreneurial failure McGrath, R. in The Academy of Management Review, Vol 24, No1, Jan 99-pp 13030 DLWO/Minor Entrepreneurship/Cases in Blue ocean pedagogical materials, used in over 2,800 universities and in almost every country in the world, go beyond the standard case-based method. HubSpot Blue Ocean Strategy Case Study. They tend to seek cheaper restaurant options and may visit fast-food outlets such as McDonald’s, Subway and Burger King. Developing Country Studies The Blue Ocean Strategy; Case Study Analysis of its Implementation in 14 Different Agencies in Malaysia Click here to find out more , – Single case study, Nintendo, which strategy is being confronted with the strategies of the two competitors, Sony and Microsoft. It applies Blue Ocean Strategy concepts to analyze its market-creating logic for future growth. Interview. 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