Question

Blend your business model for a new restaurant called (that focus's on shorter wait time on seating and service) with the blue ocean strategy framework. What do you need to eliminate, reduce, raise, and create? Explain.

Please try to meet 300 words if possible. Thanky you so much!

Answer 1

While planning to create a buisness model for a new restaurant with the blue ocean strategy there are primarile 4 factors and they are Eliminate, Reduce, Raise and Create. These factors needs to be implemented in order to sustain and remain competitve in the industry which is very much competitive. Organizations need to use these strategies for the betterment of the organization and therefore the strategies need to be fruitful and effective for the organizations to fucntion with proper effect in the industry. If we look at the factors, we will understand that why they are so much important from an organization's perspective.

Eliminate - The restaurant planning to be setup needs to eliminate the negative forces that includes any negative advertisements that the organization may possess. Any legal obligations needs to be avoided and the restaurant should not get into any issues with external forces or environments including government or anything rel;ated to customers that may impact the organization to a great extent.

Reduce - The organization needs to reduce the operation costs and also entry of new competition that may cause loss to the organization. The organization needs to understand what is good for them and what things they need to reduce and operating cost of the organization is one thing that they should be sure of try to cut it down to minimum.

Raise - The organization needs to raise awareness about their presence in the industry and raise their standard in the industry so that they are able to remain competitive and sustain in the industry. I believe that this is possible only when organizations have maintained the standard of the parameters that are required for the betterment of the organization This is an important aspect because with the tough competition level it is important that organizations raise their standard or else they will remain stagnant and will be affected.

Create - creating strategies and techniques for the business organization is very much important and this is one aspect with the help of which and organizations progress and their way of progression is defined because if they do the samething that all the others are doing, then cannot create a competitive or unie advantage and therefore they need to be creative enough to formulate the same and make it work out. Innovation has become an integral part of a business strategy without which success is too difficult to be achieved and therefore business organizations today look for creative and innovative leaders and managers.