What is business competition? Business competition is the contest between organizations that provide similar products or services or that target the same audience of consumers.
Businesses compete to convert and retain customers, increase revenue and gain more market share.
How do you order a mermaid frappuccino
To order it, ask for a Vanilla Bean Frappuccino with three scoops of blackberry inclusions (for a grande).
Then, ask for a drizzle made with eight pumps of white mocha, three pumps of toasted coconut, and three scoops of matcha powder.
How Netflix can be considered as a good example of innovation
The biggest radical innovation of Netflix is when Netflix transformed from a DVD rental service into an online streaming platform.
This means that customers no longer had to wait for their DVD to be delivered, as they were now able to watch Netflix content through its online streaming platform.
What is entrepreneurship competition
Entrepreneurship competitions require competitors to demonstrate independence, creativity, determination, business savvy, and communication skills to take their idea from inception to complete the pitch deck and present it for the competition judges.
All these skills will make teens better, more equipped students.
How does the organizational structure impact competitive advantage
Organizational structure is important because it orders your organization to deliver value to a market.
Your organization’s value chain is the sequence of high-level operations that represents your core value-creating process.
It is the translation of competitive strategy into activity.
How does differentiation help the organization to develop the competitive edge explain with suitable examples
Differentiation strategy allows a company to compete in the market with something other than lower prices.
For example, a candy company may differentiate their candy by improving the taste or using healthier ingredients.
Does Apple use open or closed innovation
The two brands being studied are examples that follow the strategies mentioned above: Apple works in a closed innovation environment while Xiaomi uses an open innovation approach.
Although using different strategies, the sales of both brands are pretty similar.
What challenge lie ahead for IKEA
The main challenges lies ahead are: Keeping the company growth at a high rate, like it did until now. which IKEA directs its business, as oppose to large market slice: the higher income population, to which IKEA did not target so far.
Is Tesla a disruptive innovation
As Bartman worked through the questions, it became clear that Tesla is not a disrupter.
It’s a classic “sustaining innovation”—a product that, according to Christensen’s definition, offers incrementally better performance at a higher price.
What is an example of value innovation
The most common example of Value Innovation strategy comes from Nintendo, the popular computer game, which through the Blue Ocean strategy went on to become Nintendo Wii.
The modified Nintendo model called Nintendo Wii was launched in 2006 and is considered the pride of the Value Innovation concept.
What is the 4 Actions Framework
The four action framework points out four key actions to take into account to refine existing products.
Those are: raise, reduce, eliminate, and create. To plot the available consumer products in a marketplace against the company’s ability to provide value and thus be competitive over time.
Sources
https://www.blueoceanstrategy.com/blue-ocean-strategy-examples/itunes/
https://www.grin.com/document/183155
https://www.linkedin.com/pulse/blue-ocean-strategy-why-still-relevant-valuable-raj-kumar-ganeson
https://www.blueoceanstrategy.com/blog/six-red-ocean-traps-you-should-know/
https://marketbusinessnews.com/financial-glossary/blue-ocean-strategy/
