(A Level) Core competences, blue ocean strategy and scenario planning

Learning objectives

Apply the core competence framework to identify capabilities that open up a range of markets, add clear value for customers and are hard for rivals to imitate.

Explain blue ocean strategy, which creates uncontested market space through value innovation, and contrast it with competing in crowded red oceans.

Explain how scenario planning uses several plausible futures to test a strategy against uncertainty.

Evaluate how useful core competence analysis, blue ocean thinking and scenario planning are when a business develops its strategy.