Blue Ocean Strategy sets the capstone on the Lancaster MBA
Published 5 October 2012
Lancaster Full-time MBA students in the 2011-12 class took part in an intensive business simulation this September. The Blue Ocean Strategy simulation was one of the final capstone events before the students completed their MBAs.
The idea behind the Blue Ocean Strategy simulation is to expand your market, explore new territory, completely reformulate your offering to capture 'non-customers', customers who would not normally purchase your product.
Richard Meek, from Lancaster's Marketing Department, explains the power of the simulation: “What Blue Ocean is trying to change is the mindset that people operate in, and try and move them into a way of thinking about new markets, trying to develop new customer groups.”
It wasn't just Lancaster students taking part in the exercise – joining the students were a team of managers from world-leading advertising agency, Saatchi & Saatchi.
The simulation was delivered by Lancaster faculty together with business simulation expert Remi Triolet, from StratX.