Synopsis Blue Ocean Strategy

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Developing a conceptual model for formulating and operationalizing Blue Ocean Strategies for Indian Companies Research Project Synopsis

ATUL KUMAR 11A

INDIAN INSTITUTE OF FOREIGN TRADE

Contents
1.0 Introduction ................................................................................................. 1 2.0 Literature review.......................................................................................... 2 2.1 Defining strategy ....................................................................................... 2 2.2 Background and recent trends .................................................................. 2 2.3 The Emerging Theme in Strategy Research ............................................... 4 2.4 The related research problems and issues in blue ocean strategy ............ 5 3.0 Objective ...................................................................................................... 6 4.0 Methodology ............................................................................................... 6 5.0 The Direction of Future Research: ................................................................ 6 References: ........................................................................................................ 6

1.0 Introduction
‘Strategy’ has always been one of the critical issues on the management studies, and the term is used evermore at different levels in various fields; so much so that it means “everything but ultimately nothing” (Chaharbaghi and Willis, 1998). In this context, there is growing interest in the propagation of the concept of strategy and a great variety of themes have been used to explain the concept by management gurus, consultants and academics. However, there hasn’t been much research into their application in one of the biggest emerging economies, India .In order to explore the opportunities for future research on strategy, it is necessary to trace its origins and evolution and to review its latest progress. To meet this objective, the second section begins with a discussion on the definition of strategy, the diverse views of strategy, and why strategy has become central to contemporary management studies, followed by a review of earlier works and recent trends in strategy research. Subsequently, blue ocean strategy is chosen as the theme for further research and its application in Indian companies. The third section details some research questions that arise from the earlier discussions and these research questions will form the basis for further research. Lastly, the study concludes with the proposed research objectives as well as the direction and importance of future research.

2.0 Literature review
2.1 Defining strategy
Strategy has become the central focus in management literature and the business world for the past few decades. However, there is still no consensus and universal definition of strategy at this time (O’Regan and Ghobadian, 2002). Mintzberg (1978) defines strategy as a sequence of top management decisions that show a consistency or pattern over time. However, he views strategy as a phenomenon with various meanings. Therefore, he proposes five interconnected definitions for strategy that explicitly interpret its multiple meanings to help people negotiate this difficult field (Mintzberg and Quinn, 1991). Mintzberg’s five definitions for strategy are plan, ploy, pattern, position, and perspective. Ansoff (1984), on the other hand, regards strategy as a means to an end, seeing it as a set of decision-making rules to guide organizational behaviour. In Ansoff’s view, the objectives represent the end that the company intends to achieve and strategy is the means to this end. He interprets strategy as a set of guiding rules (e.g., objectives, goals, concepts, rules, and policies) to deal with the micro and macro environments and treats it as a sophisticated phenomenon. Likewise, Chandler (1962) asserts that strategy is the...
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