Nanyang Technological University Professor Wee Chow Hou spoke to a UIC audience on 9 November of the contrasts between Blue Ocean strategy and Porter’s Five Forces, with reference to the Chinese classic Sun Zi Bingfa (also rendered as The Art of War).
Prof Wee, Head of the Division of Marketing and International Business at the university in Singapore, is best known for his work in applying the teachings of Sun Zi Bingfa to modern business strategies and practices.
Blue Ocean Strategy refers to seeking differentiation and low costs at the same time to create a market space and stimulate new demand. Porter’s Five Forces analysis is an approach to analyse the level of competition of an industry and contribute to developing business strategy.
Prof Wee analysed why proactive attack and defence strategies were both important in a competitive business environment. He gave details on industry, operational, and market references of how the generic strategies (Cost Leadership, Differentiation and Focus) relate to the Sun Zi Bingfa by drawing on examples of specific firms.
Prof Wee suggested that corporations should seek balance between different strategies to make better decisions.
Dean of DBM Prof Stella Cho presents a souvenir to Prof Wee
Reporter: Wang Keyan (ACCT, Year 3), Hazel Liang (DBM)
Photographer: Deng Wenwen (FIN, Year 4), Zhou Chunmei
Editor: Deen He
(from MPRO, with special thanks to the ELC)
