What are the four 4 actions framework in the blue ocean strategy BOS?

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.

What is blue ocean strategy Framework?

Blue ocean strategy is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is based on the view that market boundaries and industry structure are not a given and can be reconstructed by the actions and beliefs of industry players.

Does Netflix use blue ocean strategy or red ocean strategy?

Netflix. The first company that used the blue ocean strategy is Netflix, a popular subscription-based streaming service.

Which is the Blue Ocean four actions framework?

BOS Four Actions Framework / ERRC Grid. The Blue Ocean Strategy Four Actions Framework (also called Eliminate Reduce Raise Create Grid – ERRC Grid) is a complementary tool to the strategy canvas.

How is the Blue Ocean framework applied to Jet Blue?

Blue Ocean Strategy on Jet Blue Case Study By Neil K. George SMBA- ITM EEC 2. The fouractions frameworkon blue ocean strategy to reduce, create, raise and eliminate industry practices to create a Blue Ocean fromthe industry Red Ocean. A New Value Curve Reduce Eliminate Create Raise FOUR ACTIONS FRAMEWORK.

When did the blue ocean strategy come out?

The next two questions enable you to elevate the customer value and by doing that create a whole new demand for your product or service. The book Blue Ocean Strategy by W. Chan Kim and Renée Mauborgne was first published in 2005.

Which is the best tool for blue ocean strategy?

The Blue Ocean Strategy Tools – Strategy Canvas. This tool serves as both a diagnostic aid and an action framework for creating blue ocean strategies. On a graph, the horizontal axis depicts a range of factors that a company competes on while the vertical axis shows the offering level received by the buyers.