Assessment Essay Example
The business world today is characterized by overcrowding of similar businesses competing for market share in the demand population of the world. This has led to cut throat competition which has seen many businesses crumble or get phased out by their competitors. There has been a lot of research by both scholars and business people to try and get an edge above the pack and one of the outstanding proposals is the blue ocean strategy which has been adopted successfully by The Capstone Industries. From my experience in this program I would describe The Capstone
simulation as a well designed rigorous experienced that imparts strategy, an edge in finance analysis and a myriad of useful tactics which work together to build a successful firm. This program offers the knowledge to turn around poor performing companies to become multimillion dollar companies. In its implementation, this simulation explores balanced score card to assess the gains or lack of using the business rejuvenation program. This balanced score card requires managers to gauge their firms in consideration to the customer’s perspective, internal business, innovation and learning and through financial analysis. These four perspectives provide for a good foundation on which business managers make decisions to restructure the operations of their businesses so as to achieve the sustainable advantage over other competitors. Furthermore its competitive nature propels companies to fight for the top thus ensures continual development in the above mentioned perspectives.
The blue ocean strategy is undeniably one of the greatest business restoration techniques of the century. It is very easy to adopt if a firm is determined to improve its operations. This technique is essential in any firm which seeks to transform its market power and improve its profits as well as increase its efficiency. It is very easy for any firm to achieve sustainable competitive advantage in the capstone industries. This is because by the very nature that this is an innovative field it gives an unlimited room for growth and development. All the firms in this industry has the power within their hands to come up with new and advanced innovations which can target newer markets and thus create new market powers which they can continually explore to achieve the sustainable competitive edge.
The blue ocean strategy is purely a strategy that seeks to go beyond the boundaries of the traditional operations of businesses and industries. In the very crowded industries that firms find themselves today, it is very important to adopt the blue ocean strategy. This is a highly adaptable and beneficial technique that equips firms with the necessary tools to create new markets and demand for their existing or newer products. It is possible to adopt the blue ocean strategy because it gives unlimited power to the individual firm to come up with ways of creating new demand, secondly this strategy is done in rounds each year, thus provides the firm with ample check points to see if they are on track this is done through comprehensive check reports which provide for individual company’s performance. Thirdly it offers rapid results thus can be very cost effective. .Cirque 2009 says,” Adopting a blue ocean creator’s business model is easier to imagine than to do, because blue oceans creators’ immediately attract customers in large volumes.” Thus it is very achievable for any firm in the capstone industries to adopt the blue ocean strategy.
Patton, William, Lewis M. Elia, and Kevin Zalondek. Supreme Electronics, Inc: A Capstone Office Simulation. New York: Wiley, 1989. Computer file.
Rowsell, Roxane. Double N Adventures: A Complete Office Simulation. Toronto: Nelson Education, 2011. Print.
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