What is the strategic logic of companies that pursue differentiation and low cost simultaneously?
Explanation
This question connects the practice of pursuing both differentiation and low cost to its underlying strategic logic, which is the core concept of value innovation.
Other questions
According to Chapter 1, what is the fundamental difference in the market space focus between red oceans and blue oceans?
Based on the study of 108 companies cited in Chapter 1, what percentage of business launches were aimed at creating blue oceans?
What is the 'cornerstone of blue ocean strategy' as described in Chapter 1?
How did Cirque du Soleil's approach to its target audience differ from traditional circuses?
According to the book's analysis, what is the most appropriate unit of analysis for explaining the creation of blue oceans and high performance?
What does value innovation defy, which is a commonly accepted dogma of competition-based strategy?
The book compares the language of traditional strategy to which field, influencing its focus on competition?
According to the study of 108 companies, what was the profit impact of launches within red oceans?
What is the 'reconstructionist view' of strategy, as defined in Chapter 1?
How long did it take for Cirque du Soleil to achieve a level of revenues that took Ringling Bros. and Barnum & Bailey over one hundred years to attain?
Which of the following is NOT listed as a key defining feature of Red Ocean Strategy in Figure 1-3?
What is meant by 'innovation without value' in the context of Chapter 1?
Which factor did Cirque du Soleil eliminate from the traditional circus experience to reduce costs and create a new offering?
What is the primary reason Chapter 1 argues for a rising imperative to create blue oceans?
How is 'value' defined for the company in the context of value innovation?
Which of the following guiding principles for the successful formulation of a blue ocean strategy addresses 'planning risk'?
What is the consequence of a strategy that aligns a firm's activities with a choice of differentiation OR low cost, according to Figure 1-3?
The research for the book, as described in Chapter 1, covered a period stretching from when to when?
What does Chapter 1 suggest is the result of increasing commoditization of products and services?
In the context of the book's research, why were books like 'In Search of Excellence' and 'Built to Last' considered limited?
The 'structuralist view' of strategy, which underpins red ocean thinking, assumes that an industry's structural conditions are what?
Which new factors, drawn from the theater industry, did Cirque du Soleil introduce to its offering?
What is the primary risk attenuated by the principle 'Reach Beyond Existing Demand'?
The replacement of the Standard Industrial Classification (SIC) system with the North America Industry Classification Standard (NAICS) system is used in Chapter 1 to illustrate what phenomenon?
In the context of the 108-company study, what was the relationship between the number of blue ocean launches and their impact on total profits?
What does the concept of value innovation primarily focus on to make competition irrelevant?
Which statement best describes the conventional approach to strategy that companies in red oceans follow?
What is the consequence when an organization lacks an integral, whole-system approach to achieving a leap in value?
What did the authors' analysis of over thirty industries find regarding the characteristics of companies that created blue oceans?
According to Chapter 1, what makes Cirque du Soleil's growth 'all the more remarkable'?
What is the key difference between 'value without innovation' and 'value innovation'?
What is the main argument against using the 'company' as the basic unit for analyzing high performance?
Which of the following execution principles is introduced in Chapter 1 to address 'management risk'?
According to the book, where are most blue oceans created?
Chapter 1 argues that the history of industry shows the market universe has never been constant, which contradicts the key constraining factors of what?
What does the term 'strategic move' refer to in Chapter 1?
What was the result of Cirque du Soleil eliminating costly factors like star performers and animal acts?
What is the focus of the 'reconstructionist view' of strategy that allows firms to create new demand?
A key finding of the research mentioned in Chapter 1 is that the approach to strategy in creating blue oceans was what?
How does Chapter 1 define Blue Oceans in relation to existing industry boundaries?
What is the risk associated with a subsystem approach to innovation, such as a production process innovation?
What does Chapter 1 identify as the path for companies to succeed in blue oceans in a systematic way?
Which of these was NOT a traditional circus element that Cirque du Soleil's value innovation did away with?
What is the strategic aim in the 'reconstructionist world' of blue ocean strategy?
How did Cirque du Soleil redefine the problem of the circus industry?
What is the outcome for firms that focus on competing within existing market space, according to Chapter 1?
The research behind the book found a common pattern across successful strategic moves for creating blue oceans. What did this pattern lead the authors to develop?
What is the primary characteristic of 'value creation' on its own, without innovation?
According to the analysis in Chapter 1, Cirque du Soleil created a new form of live entertainment that was markedly different from what?