When businesses compete against one another in the same market, it becomes difficult to turn a profit. A playlist on the world's greatest ideas includes a video summary of the Blue Ocean Strategy by W. Kim Chan and Renee Mauborgne, which discusses two different business strategies: blue and red ocean strategies. The video uses clear examples and illustrations to highlight the main arguments in the text.

Concepts

business skills, local businesses, marketing

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Additional Tags

english language arts

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Instructional Ideas

• Study local businesses with similar markets to see whether they use the blue ocean strategy
• Develop a fictional business plan using the strategy in the video

Classroom Considerations

• Requires a basic understanding of economics and how local markets work

• This video is hosted on YouTube

Pros

• Uses an analogy about farmers to show the difference between red ocean and blue ocean strategies
• Clear, well-paced narration makes it easy to follow the concepts in the video

Cons

• None

Common Core

RST.9-10.2 RST.9-10.10 RST.11-12.2 RST.11-12.10