Reference no: EM133086476

Question 1 The authors W. Chan Kim and Renee Mauborgne argue in their book Blue Ocean Strategy that "the dominant focus of strategy work over the past twenty-five years has been on competition-based red ocean strategies", meaning cutting costs and growing revenue by taking away market share from competitors. In their book they have proposed a framework for imagination of blue oceans, consisting of markets which are not well explored, nor crowded with competitors. The authors suggest there are four main questions to ask in imagining a blue ocean.

What is NOT one of their four main questions?

• What new parts of the business can be created to increase perceived customer benefits?
• What parts of the business can be eiiminated that the industry takes for granted?
• What parts of the business can be raised to increase perceived customer benefits?
• What parts of the business can be substituted from another industry?