Opportunity, then, is a big part of the company’s strategy to attract the best talent who have an opportunity to prove their excellence, friendliness to customers and have a real future with the company. They do want healthier fast-food options and higher-quality customer experience but are not the premium pricing that comes with these. 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’. View blue ocean case.pdf from MANAGEMENT 101 at Ateneo de Zamboanga University. Die Blue Ocean Strategie erstellt für Firma Straße/Nr. Blue Ocean Strategy Case Study - Service NSW 4 2 Background to the establishment of Service NSW Australia has a three-tiered system of government – the federal (or Commonwealth) Government of Australian, state governments and local government. 120 doing a literature do not appear in sentence-initial exemplificatory infinitive clauses to paint next week. For now, Shake Shack is in full swing and expanding its operations around the world. The objective is to develop new customer groups to tap new markets. Staff, who are called team members, are paid on an average $2 above minimum wage paid to workers in other fast food chains. HubSpot Blue Ocean Strategy Case Study I used their framework/4-questions to create a draft of how we think about the Customer Managed Relationships (as opposed to CRM) marketplace. However, the fragmented nature of this market means customers can easily find substitutes and new restaurants can enter the market relatively easily. 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. 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. Conventional Advertising: Shake Shack brings cost further down by significantly reducing spend on conventional TV, radio and magazine advertising – that typical fast food chains more than rely on. 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. Customers have plenty of fast food options to choose from, making price an important competitive factor in this category. Speed of Service: Fast food restaurants emphasize speed over customer care – a critical factor in the fast food industry. 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. In many cases, the ingredients used are scarce, forcing premium restaurants to accept prevailing market prices. The research of W. Chan Kim and Renée Mauborgne focused on discovering the common factors that lead to the creation of blue oceans … LG Electronics: The Blue Ocean Strategy Case Study Reference No. 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. 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. I used their framework/4-questions to create a draft of how we think about the Customer Managed Relationships (as opposed to CRM) marketplace. It should be noted that most new business launches today are launches in the red ocean domain. Developing Country Studies The Blue Ocean Strategy; Case Study Analysis of its Implementation in 14 Different Agencies in Malaysia PLZ/Stadt Furger und Partner AG Strategieentwicklung Hottingerstrasse 21 8032 Zürich Fon +41 44 256 80 70 Fax +41 44 256 80 79 Mail furger@furger-partner.ch Zürich, Juni 2012. ABMBC2 (Principles of Management & Marketing) For classroom discussion only CASE: The Blue Ocean Strategy … 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. Blue Ocean Strategy Australia While blue ocean space is a comfortable zone, it might be unhealthy for business leaders in the long run. The limited-service restaurant sector represented US$223 billion of sales. They assert that these strategic moves create a leap in value for the company, its buyers, and its employees while unlocking new demand and making the competition irrelevant. 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. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. Today, it has become a global phenomenon with 180 locations globally and is expanding all the time. Children cried out for video games rather than a visit to the travelling circus. Depending on the other. Prod. 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. Empirical research. Even if they can afford to expand and open new restaurants, they are often reluctant to because it may negatively affect this reputation in the perception of customers. The result is a full dining and drinking experience that is both fun and affordable. Click here to find out more Source: California Management Review. Consumers’ perception. 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 … Product Development (New Products/Existing Market) A growth strategy based on product development is the mirror image of a market development strategy. Eataly value curve and business model canvas. Blue Ocean Strategy Competing in overcrowded industries is no way to sustain high performance. And to celebrate Shake Shack’s 10th anniversary, it recruited five celebrity chefs to create five special edition burgers bringing brand new excitement to its customers. 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. 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 goal is to better understand the underlying dynamic strategies in the form of interactions between theory and management practices. 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. ISSN 0328-5715 ISSN 2524-955X. Identifying commonalities and differences among them, the case shows the causes and consequences of Amazon's at-once stellar performance and severe setbacks. Gone are the costs associated with building play places and offering happy meals. In a functional-oriented fast food restaurants industry, Shake Shack is thriving by creating emotional experiences for its customers. But many companies have done their homework and succeeded thanks to this strategy. 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. 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. tors, blue ocean strategy is about growing demand and breaking away from the competition. 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 - Including Examples And PDF Download. In less than twenty years since its creation, Cirque du Soleil achieved a level of revenues that took Ringling Bros. and Barnum & Bailey—the once global champion of the circus industry—more than one hundred years to attain. Blue Ocean Team. Founded in 2003, Blue Ocean Systems provides SAP Business One business management software to small and midsize companies. They usually do not even consider going to fast-food restaurants but rather choose bars to stay out late and enjoy a drink or more with friends. The Eataly case. Red ocean strategists compete to win market share in traditional mature markets and pursue either a differentiation or cost leader strategy. Cirque du Soleil took the world by storm. Cirque du Soleil succeeded because it realized that to win in the future, companies must stop competing in red oceans. The Blue Ocean Strategy seems to be a perfect solution for present companies to become sustainable successful. 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. And that is what Shake Shack did. 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. 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. An in-depth case study on Cirque du Soleil’s blue ocean strategic move can be accessed here. 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. The value of having a blue ocean strategy is better understood when compared to a red ocean strategy. Shake Shack, the gourmet fast food chain, started out as a hot dog stand in New York City in 2001. by W. Chan Kim, Renee Mauborgne, Katrina Ling, × * * * * $8.95 × * * * * * * Quantity: Item: # BOS001 Weight: 1.00 LBS. 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. 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. Traditional Competitive Strategies. 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. The business model. 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. 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 Ocean Strategy Competing in overcrowded industries is no way to sustain high performance. Also, premium restaurants do not have strong bargaining power with their suppliers. #BlueOceanShift and #BlueOceanStrategy are worldwide business strategy bestsellers, helping you to move beyond competing and start creating your #blueocean. 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. Offering high-quality craft beers and specialty wines further propels Shake Shack to a new frontier. It appealed to a whole new group of customers: adults and corporate clients prepared to pay a price several times as great as traditional circuses for an unprecedented entertainment experience. quantitative approach to blue ocean strategy formulati on and to test it with a case study. Publication Date: Apr 01, 2005. Supplier power on the part of star performers was strong. ∗Achieved via the delivery of features that have a highest marginal benefit to customer needs . This generates a sense of locality and authenticity for Shake Shack’s stores, exuding the charm of a local mom-and-pop shop. Also several shortcomings for the theoretical and practical part are mentioned. Factors like speed and price, which are so important to fast food players, became secondary to more significant aspects that customers care about. Community Hangout: In 2001, Shake Shack debuted as part of an art project for the community in New York’s Madison Square Park. In addition, the In addition, the following objectives are to be achieved: Traditional Competitive Strategies. Despite its huge size, it represents a typical red ocean market dominated by McDonalds for now. 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. They refuse the premium dining experience because of its price. Blue Ocean Strategy vs. The conclusion describes that the Blue Ocean Strategy could be assessed to a set amount as valid and reliable. Nine out of the top ten restaurants in the United States by revenue come from this category. But to stay ahead of the game, the burger giant will need to find new ways to renew its blue ocean. Alternative forms of entertainment —ranging from various kinds of urban live entertainment to sporting events to home entertainment—cast an increasingly long shadow. This is based on its belief that friendly workers take good care of customers and will bring them back. 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. Here are a few examples of blue ocean strategic moves from a variety of different industries and sectors. ∗Blue Ocean Strategy is a: ∗Value Innovation Strategy – competes in an uncontested market space ∗“Combination Strategy ”: pursue differentiation while controlling costs. cases according to the Blue Ocean Strategy. From the perspective of competition-based strategy, the circus industry appeared unattractive. Tipping: Shake Shack has also eliminated tipping, offering customers a worry-free dining experience. 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. Blue ocean strategy. 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. These include the traditional fast food outlets like McDonald’s and also the newer category of gourmet fast food outlets – like Panera Bread and Shake Shack. 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. 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. Red oceans are … In this video Dr.Vivek Bindra unveils the secret of accelerating your business growth to an exponential level. For now, Shake Shack is in full swing and expanding its operations around the world. Blue Ocean Case Study. The success of these companies is largely dependent on huge media expenditure and economies of scale. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. Ringling Bros. and Barnum & Bailey set the standard, and competing smaller circuses essentially followed with scaled-down versions. The impact of Blue Ocean Strategy In the earlier work (See Blue Ocean Strategy: how to create uncontested market , 2005) it has been argued two types of strategies: blue ocean strategy and red ocean strategy. Blue Ocean Strategy vs. Red Ocean Strategy. 2017. Industry insight. Developing Country Studies The Blue Ocean Strategy; Case Study Analysis of its Implementation in 14 Different Agencies in Malaysia They tend to seek cheaper restaurant options and may visit fast-food outlets such as McDonald’s, Subway and Burger King. 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. 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. But not Shake Shack. So was buyer power. Our analysis shows they took a blue ocean approach. People flock to Shake Shack as a place to socialize rather than just another dining option. Premium fast food is a hybrid category that combines high-level customer experience and convenience with moderate price. In this way, Shake Shack successfully gained those customers who used to go for cheaper options. #: CMR312-PDF-ENG. Blue Ocean Strategic Moves. 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. This significantly reduces their marketing spend compared to traditional fast food chains. There was also increasing sentiment against the use of animals in circuses by animal rights groups. Theoretical perspective. Blue ocean strategy is based on over decade-long study of more than 150 strategic moves spanning more than 30 industries over 100 years. ∗Blue Ocean Strategy is a: ∗Value Innovation Strategy – competes in an uncontested market space ∗“Combination Strategy ”: pursue differentiation while controlling costs. Partially as a result, the industry was suffering from steadily decreasing audiences and, in turn, declining revenue and profits. The case comes with teaching note, a one-page summary and lectures slides. Marketing Case Studies; Strategy Articles. Market players strive to maintain a reputation for delivering a unique, satisfying and memorable customer experience. 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. US$259 billion was attributed to the full-service restaurant sector, which includes premium restaurants and fine dining. Not surprisingly, the fierce rivalry among competitors is accompanied by high marketing budgets. Instead of pioneering a new … by W. Chan Kim, Renee A. Mauborgne. Gourmet Fast Food: “Shake Shack is just an ordinary fast-food joint, said nobody ever”, writes a food critic. Instead, it focuses on quality ingredients and enjoyable customer experience and is known for a fast-casual environment where people do not mind waiting in long lines for fresh and cooked to order food. 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" Instead they should create blue oceans of uncontested market space and make the competition irrelevant. 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 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 Significantly, one of the first Cirque productions was titled “We Reinvent the Circus.”. By offering alcohol and staying open until midnight, Shake Shack attracted customers who want to enjoy alcohol with their burgers, as well as those who just wanted to have a drink with friends. The real opportunity is to create blue oceans of uncontested market space. Dies schließt die vorhe-rige Existenz der Märkte jedoch nicht aus. The Blue Ocean Strategy as a method for developing sustainable profitable frameworks implies the fundamental idea of developing new innovational markets with a majority of new customers. We did this by making use of the Blue Ocean analytical tools and frameworks following the principles of the Blue Ocean Strategy. #BlueOceanShift and #BlueOceanStrategy are worldwide business strategy bestsellers, helping you to move beyond competing and start creating your #blueocean. “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. Select from the icons below to learn more. Blue Ocean Strategy. The workers also get a monthly bonus that’s called “Shack Bucks,” which is up to 1 percent of the company’s revenue from that individual shop and roughly adds two dollars an hour to employee paychecks. 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. The company compensates employees by providing above average compensation and benefits. It is being published in a record-breaking 44 languages and is a bestseller across five continents. – The purpose with this article is to analyze the “Blue Ocean” phenomenon in depth. For example, Panera Bread, the largest restaurant in this category, targeted customers demanding healthier options that used fresh and organic food. The Blue Ocean Strategy Study Group (BOSSG) in P5. This case So how did it create a new market in a fiercely competitive restaurant industry? 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. The case is adequate for all students in general, as everyone is experienced with DIY products. Kids Place and Happy Meals: Shake Shacks are built to feel more modern and grown-up than the cartoony, red-and-yellow-decorated fast food chains that lure kids with happy meals, toy gifts and play places. Blue ocean strategy doesn’t aim to out-perform the competition. 8 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. 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