Abstract: Blue Ocean Strategy ranks amongst the most defining work put out in Strategic Management. The applications are industry agnostic and have a far reaching impact. Researchers of blue ocean strategy are convinced that the only way to win the competition is stop trying to win the competition! Instead of entering into a bloody competition of the Red Ocean, enter the infinite market space of the Blue Ocean and try to create new demands. The application of this master work in the education industry is explained here with particular reference to the management education in the city of Mumbai. The authors have personally experienced the strategic development of this from the conceptual stage and have seen the application and refining of the concept in successfully establishing and growing a Business School. The strategy canvas using the ERRC Model proposed by Blue Ocean Strategy exponents was used in designing the model of FABS - Fazlani Altius Business School. It graphically captures, in one simple picture, the current strategic landscape and the future prospects for an organization. Having established the said Business School, the authors believe that the immense potential in such a model needs to be explored and size of the Blue Ocean can be increased manifold. FABS has now acquired an image of an institute that works in myriad different ways to improve the student across all facets and delivers value.
Keywords: Blue Ocean, Red Ocean, FABS, ERRC Model.
Title: Creating an Educational Blue Ocean: The adaptations from theory to practice in creating a Business School in Mumbai
Author: Ashfaq Ul Ahad, Dr. Shivakant Upadhyaya
International Journal of Interdisciplinary Research and Innovations
ISSN 2348-1218 (print), ISSN 2348-1226 (online)
Research Publish Journals
