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This week in mgmt304, we started the ¿real¿ Mikesbikes rounds – practice time was over. In class on Friday, Peter discussed a number of different strategies regarding Mikesbikes, and they raised many questions that my team didn¿t previously have. Strategies such as moving the bike away from the centre of the circle on the perceptual map and taking over other teams somewhat confused the plans my team already had.

Our underlying problem is talked about in the Blue Ocean Strategy  (Kim & Mauborgne, 2004) reading. This reading states that blue oceans are a previously unknown market, where demand is created instead of fought over. Our team is very keen to find this so called ¿blue ocean¿ in Mikesbikes, but our problem is how to achieve this. I think most teams in Mikesbikes try to find the blue ocean, however – I imagine there are a couple of other journals written this week by people also keen to find a blue ocean. The key for our team is to hunt out a blue ocean that no one else is trying to simultaneously hunt at the same time.

The question of how my team will achieve this blue ocean is the key issue for my learning journal this week. The reading states that there are two ways to create blue oceans; the first is by creating completely new industries, like eBay with online auctions. The second way is by expanding the boundaries of an existing industry. As we are limited to producing bikes, the second method of expanding our existing industry will have be the route we take in our journey for a blue ocean. Peter offered a few tips on how to do this on Friday, too. As a team, we have worked out how to pursue our own blue ocean, but in the spirit of the competition, I won¿t say in my journal for everyone else to see.

 

Kim, W. C., & Mauborgne, R. (2004). Blue Ocean Strategy . Harvard Business Review , 76-84.

2 Comments

  1. Thank you for the opportunity to review your learning journal. The main thing of which you have demonstrated learning is that finding a blue ocean in mikesbikes will help to increase your chance of success. 

    I think you have followed Daudelin's approach relatively well, outlining your problem, analysing it, explaining it, and deciding to act on your potential solution. 

    Then move onto Bloom's taxonomy and think about the highest level they demonstrate. Write something along the lines of "The highest level of Bloom's taxonomy demonstrated in this journal is analysis. This was done when you said "blue oceans are a previously unknown market, where demand is created instead of fought over. Our team is very keen to find this so called ¿blue ocean¿ in Mikesbikes"

    I think you could improve by using Bloom's taxonomy more in the journals, and follow his steps more effectively. 

    Thank you for sharing your work, I will be able to follow the various learning journal theories more closely in the future. 

  2. Hi Andrew,

    Thank you for giving my opportunity to review your week and how your group has come to terms with building up your own strategy.

    After reading your short journal, my first reaction was, what a precise straight to the point journal entry.

    I believe your team's ability to reproduce your team strategy and work out actions in order to create that blue ocean in the over crowded red ocean market was a excellent example to use. You demonstrated through this that you are able to use Daudelin's approach by pulling apart your problem, doing research, discussing and finding different approaches and finally acting on them. I believe in this last step where your team has now developed a new strategy, the action part and the ability to stay fluid and act on what happens in the market will be vital. 

    I also think, if you read the other two readings, you would find a lot of other ideas which could have helped your team create their own canvas. In the reading Kim, W. C. & Mauborgne, R. (2002). Charting your company's future, it discuss' how a company differentiates themselves from their competitors. You could have gone more in depth in how your team came up with your strategy. Was it top-down (CEO only), or was it a collective idea? Who decided, how did use make the final decision? This would have allowed you to apply Bloom's Taxonomy to your entry.

    The highest level I can see is possibly, application, where you state, The reading states that there are two ways to create blue oceans; the first is by creating completely new industries, like eBay with online auctions. The second way is by expanding the boundaries of an existing industry. As we are limited to producing bikes, the second method of expanding our existing industry will have be the route we take in our journey for a blue ocean. You have a knowledge base and your example of eBay is also a good one.

    As I stated above, I think you need to focus on being more questioning yourself, breaking down your problem, or ask yourself the above questions. 

    In your journal I personally like the fact that it is straight to the point. The paragraphs flows on from each other and you incorporate the readings, lectures and team work well whilst sticking in the theme. I, myself, need to still grasp this, so well done and thanks for the insights into another teams discussions (ours were the same).

    Robyn