"Create an uncontested market space that makes competition irrelevant" (Kim & Mauborgne, 2004). Sounds great, but how can it be achieved?
In the case of MikesBikes, finding the Blue Ocean seems like the safest, yet the hardest way to succeed. On the other side, the Red Ocean where competition and rivalry is fierce, it seems very difficult to 'be on top' of others. The fierce 'war' between companies to grab a better share of demand (As illustrated in the readings) is a good representation of the environment of MikesBikes, or any industry in the world.
In the practice turnovers of MikesBikes, we were unsuccessful in the "grabbing of better share of demand" in the Red Ocean, nor we found an undiscovered Blue Ocean that would've brought us growth and prospect. As stated in my last learning journal, I felt that I have not been contributing a great amount to the team. While I gave opinions and ideas here are there, I was never actively making decisions or calling the shots in my 'area' as I was meant to. This was apparent in our last group meeting; when there was a need to make a decision, I could still not come up with the best one. This is clearly a big problem that will cause issues in the future, so I really need to step up my game in order to not disappoint my teammates.
In the upcoming roll-overs of MikesBikes, I hope that we make strong decisions and strategies in order to 'enjoy' the prospects of a Blue Ocean, while also being able to compete with other firms successfully to 'survive' in the Red Ocean.
Kim, W. C. & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review, 82(10), 75--84