Document Type : Research Article
Authors
1 Professor, Department of Management studies, St.Joseph's College of Engineering, Chennai, PIN 600119, Tamil Nadu State, India
2 Assistant Professor, Department of Management studies, Velammal Engineering College, Chennai, PIN 600066, Tamilnadu State, India
3 MBA Student, Department of MBA, St.Joseph’s College of Engineering, Chennai, PIN 600119, Tamil Nadu, State India
4 MBA Student, Department of MBA, St.Joseph’s College of Engineering, Chennai, PIN 600119, Tamil Nadu State India
Abstract
A strong framework for seeking potential business opportunities is the
Blue Ocean Strategy. This paper explains the concepts of the blue ocean
strategy, principle and risk associated with Uber and how Uber breaks
down conventional strategic competitive thinking and uses strategic
concepts of the blue ocean to increase demand and benefit for the
company. The four principles are how to establish uncontested market
space by restoring market boundaries, concentrating on the big picture,
reaching new market spaces beyond current demand and supply, and
having the strategic sequence right. Uber discovered the untapped e-taxi
market, which had enough opportunities for rapid growth and
profitability, and this initiative made it possible for them to identify
their larger, deeper potential e-taxi market in its strategic formulation,
which was not explored.
Keywords
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