ISSN 2348-1218 (print) International Journal of Interdisciplinary Research and Innovations ISSN 2348-1226 (online) Vol. 8, Issue 3, pp: (65-70), Month: July - September 2020, Available at: www.researchpublish.com
Expanding Size of an Educational Blue Ocean: Scoring during the COVID Times Upadhyaya S*, Choudhary S**, Ahad A*** *Dean, Fazlani Academy of Business Sciences, Mumbai 400072, India **Professor and HOD – Marketing and IT, Pacific Business School, Udaipur, India *** Faculty – HRM, Fazlani Academy of Business Sciences, Mumbai 400072, India
Abstract: Blue Ocean Strategy remains the most defining work in Strategic Management. The Researchers of blue ocean strategy are convinced that the only way to win the competition is stop trying to win the competition! Instead of entering into a bloody competition of the Red Ocean, enter the infinite market space of the Blue Ocean and try to create new demands. This paper is third in the series of such attempt through the establishment of the Fazlani Academy of Business Sciences in Mumbai. Having established the said Business School, the authors believe that the immense potential in such a model needs to be explored and size of the Blue Ocean can be increased manifold. FABS has now acquired an image of an institute that works in myriad different ways to improve the student across all facets and delivers value. The COVID times have provided with an opportunity for this model to quickly take off into a collaborative one, with universities, corporates and aggregators to forming strong platform for offering a solution to the offline and online debate. The authors have personally experienced the strategic development of this from the conceptual stage and have seen the application and refining of the concept in successfully establishing and growing a Business School, and now taking the same to the next level. Keywords: Blue Ocean, FABS, Talentedge.
1. BACKGROUND For the uninitiated, it is prudent to outline the concept of FABS in brief. Fazlani Academy of Business Sciences (FABS) evolved from the need of providing an accountable, responsible, innovative, world-class business school that is a career accelerator for its students and a growth engine for business communities. The strategy canvas using the ERRC Model proposed by Blue Ocean Strategy exponents was used in designing the model of Fazlani Academy of Business Sciences. The model developed and practiced by FABS has found merit among the corporate stakeholders, with its multiple advantages detailed below: 1. The industry partner gets to select the talent first-hand from a wide variety of students based on their needs 2. The industry partner and FABS co-create customized syllabus, draw up the faculty jointly, certifications and pedagogy to create industry ready resources 3. The industry partner gets the participating student to intern for nine months‟, thereby ensuring the education is as practical to the real world as possible 4. At the end of the two year period, the partner has a trained resource, now available as a full time employee, who is productive from day one
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