Question

In any technology security company, what would the Blue Ocean Strategy Values be? Explain why the values are chosen.

Answer 1

Solution:

A blue ocean strategy can described as the strategy of finding a marketplace free of competitors instead of viciously competing with other companies in the already captured market space.
In a blue ocean strategy, value-cost trade-off is broken to open up new market space
Differentiation and low cost are pursued simultaneously by an organization
A high value product is generally provided to customers at a low cost to remove the competition

In any technology security company, most firms operate under intense competition and try to do everything to gain market share. When the product comes under pricing pressure there is always a possibility that a firm’s operations could well come under threat. This situation usually comes when the business is operating in a saturated market, also known as ‘Red Ocean’.
A blue ocean exists when there is potential for higher profits, as there is now competition or irrelevant competition.
Blue Ocean Strategy aims to capture new demand, and to make competition irrelevant by introducing a product with superior features. It helps the company in make huge profits as the product can be priced a little steep because of its unique features from others.
In Blue ocean there is no business before and this is about creating business in an area which did not exist. Hence competition is irrelevant.The rules are set by the creators.There is no violence and the atmosphere is relatively calm in Blue ocean strategy.When companies are involved in direct fighting and argument,all involved parties are faced with declining market share, reduced growth and falling profits. When they are trying to create market in blue ocean strategy the employees and the company can benfit more from it.