Identify An Organization You Are Familiar With 381341

Identify An Organization With Which You Are Familiar That Is In Need O

Identify an organization with which you are familiar that is in need of a change in its strategy in its pursuit of competitive advantage. Review this week’s Learning Resources, focusing specifically on the different competitive strategies and strategic frameworks you have learned about in this program. Consider the concept of the Blue Ocean strategy, as well as Porter’s five forces, vertical integration strategies, and others. 225- to 300-word (3- to 4-paragraph) analysis of how your selected organization can use competitive business strategies to create competitive advantage. In your analysis, include the following: Examine two strategies that the organization could take to create and sustain competitive advantage. Explain why these strategies could be effective for the organization’s achievement of competitive advantage. Devise recommendations for how the organization could implement a Blue Ocean strategy or strategic approach to achieve and sustain competitive advantage. To support your response, be sure to reference at least one properly cited scholarly source.

Paper For Above instruction

In the dynamic landscape of modern business, organizations must continuously adapt their strategies to gain and sustain a competitive advantage. A familiar example of an organization in need of strategic realignment is Blockbuster, a former leader in video rental services that lost its market position to emerging competitors like Netflix. To reverse its declining trajectory, Blockbuster could employ strategic frameworks such as Porter’s Five Forces and explore innovative approaches like the Blue Ocean strategy, which seeks to create uncontested market space by making competition irrelevant.

One strategic approach that Blockbuster could adopt is diversifying its service offerings through vertical integration. For instance, the company could develop its own content production and distribution channels, reducing dependency on third-party content providers and strengthening its bargaining power. Vertical integration would allow Blockbuster to control costs, enhance customer experience, and differentiate itself in the entertainment industry. Additionally, the company could explore entering new markets by leveraging digital streaming—shifting from physical rentals to a subscription-based online platform—which aligns with the Blue Ocean strategy of creating new demand in an uncontested market space. This move would enable Blockbuster to differentiate itself from competitors and attract customers seeking innovative entertainment options.

Furthermore, implementing a Blue Ocean strategy could involve redefining value propositions, such as offering personalized content recommendations or exclusive digital content, thus creating a unique customer experience. This strategic shift minimizes traditional competition and generates new demand, fostering long-term growth. Combining vertical integration with Blue Ocean principles, Blockbuster might develop an integrated platform that offers content creation, distribution, and personalized services—creating a unique ecosystem that competitors find difficult to replicate. By embracing these strategies, the organization can reposition itself in the marketplace, adapt to technological advancements, and sustain a competitive advantage over time. As Kim and Mauborgne (2005) emphasize, organizations that explore new value frontiers are better positioned to thrive in competitive industries.

References

• Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Harvard Business Review Press.
• Porter, M. E. (1980). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press.
• Porter, M. E. (1985). Competitive Advantage: Creating and Sustaining Superior Performance. Free Press.
• Christensen, C. M. (2013). The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail. Harvard Business Review Press.
• Kim, W. C., & Mauborgne, R. (2014). Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant. Harvard Business Review Press.
• Hill, C. W., & Jones, G. R. (2012). Strategic Management Theory: An Integrated Approach. Cengage Learning.
• Johnson, M. W., Christensen, C. M., & Kagermann, H. (2008). Reinventing Your Business Model. Harvard Business Review, 86(12), 50-59.
• Lederman, D. (2017). The Rise of Streaming Services and Impact on Traditional Media.media & Entertainment Journal, 7(3), 45-59.
• Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.
• Grant, R. M. (2016). Contemporary Strategy Analysis. Wiley.