Balanced Scorecard Approach, “A View from the Top”: The broader technique to explain the mission statement of the customer driven market that add only customer related details such as product, on-time-delivery, service, cost and product performance known as “Balanced Scoreboard Approach.” According to the chapter 2 of “Strategy and Performance” on page 30, has mentioned “Apple” example using “Balanced Card Approach” for introducing customer metrics (Fleisher & Mahaffy, 1997).
Apple is a company that market through product designing strategy. However, this customer driven strategy is effective only when customer expectations are meeting up. Moreover, this strategy revolves only around product designing feature in terms of tackling the desires of customers towards their product so that they have a bigger profit and revenue margin for their company. Whereas, this strategy focuses more on strategic planning and budgeting procedure rather than attracting customers with innovation.
Blue Ocean Strategy, “Air Asia”: Blue Ocean Strategy has followed by Air Asia that example has mentioned here to understand the 4 components of this strategy and its practical implementation made by Air Asia. These four elements are ERRC (Eliminate, Reduce, Raise and Create). This strategy has a step by step procedure to meet customer expectations mainly their needs. Therefore, in every element of the “Blue Ocean Strategy” as followed by Air Asia towards making their Airline outclass for their passenger they focus key desires. As, travelers expecting advance booking system, during the flight free availability of food and beverages, proper seating arrangement procedure based on customer desire of booking specific seat for their travel. Although, cost benefit and innovation has made through this strategy, but it can turn into red ocean from blue ocean if it didn’t follow with the multiethnic destination (Chan & Renee, 2011).
Chan, K., & Renee, M. (2011). Blue ocean strategy.
Fleisher, C., & Mahaffy, D. (1997). A balanced scorecard approach to public relations management assessment. Public Relations Review, 23(2), 117--142.
Knight, H. (n.d.). Developing a Strategy. Patent Strategy: For Researchers and Research Managers, Third Edition, 75--132.