Reference no: EM131153198

A strategy is the long term plan which the organization adopts so as to achieve the objectives of the organization. The blue ocean strategy is considered as an efficient strategy which focus on the better execution and communication. Some of the main three concepts in the blue ocean strategy are the focus, divergence, and a compelling tagline. Focus: An efficient strategy exhibits a good focus on the goal achievement, obtaining competitive advantage etc. and specifically highlight this in the company's strategic profile Divergence: According to this factor the strategies formulated should make the organization different from its competitors in its industry. Compelling tagline: The taglines which are generated are communicated effectively to the stakeholders and the employees which enables the better the better execution of the strategy. Samsung is a popular organization in the electronics industry. Through implementing the concepts of the Blue ocean strategy the effectiveness of the strategies adopted by this organization can be analyzed. Samsung has a variety of product lines, for example, one of its product line is smartphones. For this product line itself, they provide a variety of differentiated mobiles with latest technologies. Their strategy of product differentiation make them remain successful in the market. Hence, they follow the concept divergence. Use both the balanced scorecard approach and the ERRC approach (eliminate, raise, reduce, and create, to critique their strategy. identify which of the items in each approach are present and adequate or are missing or, in your judgment, inadequate as relates to Samsung. In the case of missing or inadequate elements, recommend changes to the strategy that will correct them. Explain the rationale behind your evaluations. Be creative. Act as a consultant and make suggestions the Samsung might consider implementing.