Blue Ocean Strategy: Historical Development and Future Innovation

Blue Ocean Strategy

Table of Contents
INTRODUCTION ..........................................................................................................................3
Application of Blue ocean strategy in context to the historical development.............................3
Historical development of Spotify..............................................................................................6
Application of Blue Ocean Strategy Innovation Theory in future development context. .........7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Innovation is defined as developing of new idea which can substitute the existing product
with high value and efficiency that satisfy customers and meet with the market demand. In
addition to this, innovation management is the systematic process which involve promotion of
new idea within the internal as well as external environment (Vieira and Ferreira, 2018). For the
present report, Spotify is taken into consideration. It is a Swedish media service and audio
streaming provider that was established in year 2008 and head office in Stockholm, Sweden. The
report will over Historical development of respective organisation along with business canvas
model. In addition to this, application of blue ocean strategy in context to future development of
company is elaborated in the report.
Application of Blue ocean strategy in context to the historical development
COMPANY OVERVIEW:
Spotify is a Swedish brand that operates and offering a transformed platform for the
music lovers by changing the concept of music listening entirely in the year 2008. The
organisation launched an application for people where they can manage, discover as well as
share around 50 million audio and tracks for free. In addition to this, its application has premium
membership for the people who want to listen music without any interruption and other
associated benefits of membership. The respective organisation is a leading brand in audio
streaming field & service provider in the present. Moreover, the company has more than 289
million subscribers and in this around 40% of subscribers belong from different markets
globally.
VISION:
The vision of Spotify is based on its objectives, which stated that the organisation is
aiming to give a common platform to all people and culture of societies for declining the borders
& making them experience all form of music & empathize with the another one.
MISSION:
The mission of Spotify is related with transforming the aims and objectives determined
into reality and direct the company towards attainment of all the goals with taking up broader
notions and perspectives.
BUSINESS CANVAS MODEL: