Preview

Synopsis Blue Ocean Strategy

Powerful Essays
Open Document
Open Document
3650 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Synopsis Blue Ocean Strategy
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



References: Aldrich, H.E., 1979. Organizations and Environments. Prentice-Hall, Englewood Cliffs, NJ. Andrews, K.R., 1965. The Concept of Corporate Strategy. Dow Jones-Irwin, Homewood, IL. Ansoff, H.I., 1965. Corporate Strategy, McGraw-Hill, New York, NY. Ansoff, H.I., 1984. Implanting Strategic Management. Prentice-Hall International, London. Aspara, J., J. Hietanen, P. Parvinen and H. Tikkanen, 2008. An Exploratory Empirical Verification of Blue Ocean Strategies: Findings from Sales Strategy paper presented at Eighth International Business Research (IBR) Conference, 27-28 March 2008, Dubai, United Arab Emirates, available at http://eprints.herce.fi/38/1/aspara-et-al2008_an_exploratory_empirical_verification_of_blue_ocean_strategies.pdf. Bartlett, C. and S. Ghoshal, 1991. Global strategic management: impact on the new frontiers of strategy research. Strategic Management Journal, 12: 5-16. Burke, A.E., A.J. Van Stel and R. Thurik, 2009. Blue ocean versus competitive strategy: theory andevidence. ERIM Report Series Reference No. ERS-2009-030-ORG, available at SSRN: http://ssrn.com/abstract=1417221. Chaharbaghi, K. and R. Willis, 1998. Strategy: the missing link between continuous revolution and constant evolution. International Journal of Operations and Production Management, 18(9/10): 1017-27. Chakravarthy, B., 1997. A new strategy framework for coping with turbulence. Sloan Management Review, 4: 69-82. Chandler, A.D., Jr. 1962. Strategy and Structure. MIT Press, Cambridge, MA. Gluck, F.W., S.P. Kaufman and A.S. Walleck, 1980. Strategic management for competitive advantage. Harvard Business Review, 58: 154-61. Hafsi, T. and H. Thomas, 2005. The field of strategy: in search of a walking stick. European Management Journal, 23(5): 507-19. Hax, A., 1990. Redefining the concept of strategy, in Strategy: Process, Content and Context, Eds., De Wit, B. and Meyer, R., West Publishing, New York, NY, 8-12. Helfat, C.E., 2000. The evolution of firm capabilities. Strategic Management Journal, 21(10/11): 95560. Jarzabkowski, P.A. and D.C. Wilson, 2006. Actionable strategy knowledge: A practice perspective. European Management Journal, 24(5): 348-67. Khalifa, A.S., 2009. Drawing on students’ evaluation to draw a strategy canvas for a business school. International Journal of Educational Management, 23(6): 467-83. Kim, C.W. and R. Mauborgne, 2002. Charting your company’s future. Harvard Business Review, 80(6):76-85. Kim, C.W. and R. Mauborgne, 2004. Value innovation: The strategic logic of high growth. Harvard Business Review, 82: 172-80. Kim, C.W. and R. Mauborgne, 2005. Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant. Harvard Business School Press. Boston, MA. Kim, C., Yang, K.H. and J. Kim, 2008. A strategy for third-party logistics systems: a case analysis using the blue ocean strategy. Omega, 36: 522-34. Kim, S., H.P. In, J. Baik, R. Kazman and K. Han, 2008. VIRE: Sailing a blue ocean with value-innovation requirements. IEEE Software, 25(1): 80-87. Lengnick-Hall, C. and J.A. Wolff, 1999. Similarities and contradictions in the core logic of three strategy research streams. Strategic Management Journal, 20: 1109-32. Mintzberg, H., 1978. Patterns in strategy formation. Management Science, 24(9): 934-38. Mintzberg, H., 1990. “The design school: reconsidering the basic premises of strategic management”, Strategic Management Journal, 11(3): 171-95. Mintzberg, H. and J.B. Quinn, 1991. The Strategy Process: Concepts, Context, Cases. Englewood Cliffs, New Jersey: Prentice-Hall. Mintzberg, H., B. Ahlstrand and J. Lampel, 1998. Strategy Safari: A Guided Tour through the Wilds of Strategic Management. Free Press, New York. O’Regan, N. and A. Ghobadian, 2002. Effective strategic planning in small and medium sized firms. Management Decision, 40(7): 663-71. Porter, M., 1980. Competitive Strategy. Free Press, New York. Porter, M., 1985. Competitive Advantage: Creating and Sustaining Superior Performance. Free Press, New York. Prahalad, C.K. and G. Hamel, 1990. The core competence of the organization. Harvard Business Review, 68: 79-91. Pun, K.F., 2003. A synergy model for strategic planning in manufacturing enterprises. West Indian Journal of Engineering, 26(1): 29-43. Raith, M.G., T. Staak and H.M. Wilker, 2007. A decision-analytic approach to blue-ocean strategy development. In Operations Research Proceedings 2007 Eds., Kalcsics, J. and S. Nickel, Springer Berlin and Heidelberg, 225-29. Stacey, R., 1993, Strategic Thinking and the Management of Change. Kogan Page, London. Teece, D.J., Pisano, G. and A. Shuen, 1997. Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18: 509-33. Thompson, A.A. and A.J. Strickland, 2001. Strategic Management Concepts and Cases, 12th Edition. McGraw-Hill, Boston, MA. Wall, S.J. and S.R. Wall, 1995. The Evolution (Not the Death) of Strategy. Organizational Dynamics, 24(2): 7-19. Wernerfelt, B., 1984. A resource-based view of the firm. Strategic Management Journal, 5: 171-80.

You May Also Find These Documents Helpful

  • Good Essays

    According to Cham Kim and Renee Mauborgne (2004), the Blue Ocean strategy involves the description of how the organization should try and proceed to find some way to work in the marketplace that is not bloodied by the competition and also that is free of competitors. The strategy is against working in conditions such as Red Ocean, where businesses are ferociously fighting each other for some share of the marketplace. In essence, businesses are most often looking for ways that can better contend with their competitors, and that is the Blue Ocean strategy. According to the book Blue Ocean Strategy, the leading companies succeed not by battling with competitors, but by systematically developing “Blue Oceans” of uncontested market space ripe for the growth. Such a strategy of Blue Oceans the simultaneous pursuit of differentiation and also low cost, including the theory behind it not to outperform the competition in the on-hand industry, but to develop new market space or rather the “Blue Ocean”, in which case it makes the competition irrelevant. (Brooks, 2013) As such, the Blue Ocean strategy illustrates the opportunities of vast and untapped market spaces (Kim & Mauborgne, 2004)…

    • 957 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Blue ocean strategy is important because it avoids costly competition and leaves the company to expand without worrying about other firms operating in their space. The first key to blue ocean strategy is focusing on noncustomers. Instead, companies should focus on creating a larger industry by attracting people who have never purchased from that industry. By doing this, not only are you creating a larger industry, but you are opening new pathways to new customers who will refer your product or service to even more new customers. After you have attracted new customers, it is time to move away from existing markets where all of the customers are doing business with either you or the competition to uncontested…

    • 886 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Blue Ocean Strategy

    • 673 Words
    • 2 Pages

    Blue ocean is a slang term that comes from the book "The Blue Ocean Strategy," by W. Chan Kim and Renee Mauborgne. Blue ocean describes the opportunities of vast, untapped market spaces that can be developed by expanding market boundaries or launching new industries. In any established market, many businesses are in constant battle with each other for sales and customers. This is compared by a blue ocean because in a blue ocean many sharks will fight to the death for the ocean. This is also an example of red ocean; because of the battle between the many sharks, just like businesses fighting for customers and sales, blood appears from the battle. A majority of businesses are looking for their own blue ocean to work peacefully in but that may be hard to find in any type of business category.…

    • 673 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Blue Ocean Strategy is slang for the uncontested, innovative market space for an unknown industry. The strategy also changes the focus from the current competition to creating a new value and demand. Professors W. Chan Kim and Renee Mauborgne wrote the Blue Ocean strategy concept in their book ,”How To Create Uncontested Market Space and Make the Competition Irrelevant”. The Blue Ocean Strategy (BOS) concept represents potential market growth and profits. Within the BOS, there lies six main principles to guide the…

    • 701 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    Blue Ocean Strategy is a concept in which authors W. Chan Kim and Renee Mauborgne devised. They then wrote a bestselling book called you guessed it, Blue Ocean Strategy. In this book the authors expound upon at great length, the benefits for business owners to leave the red ocean. Red Ocean is a term used for what is known as the waters of competition where the fury of competition mirrors that of waters infested with sharks on a feeding frenzy. This is historically where the vast majority of businesses have found themselves. However in direct contrast the Blue Ocean Strategy…

    • 628 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Blue Ocean Strategy

    • 749 Words
    • 3 Pages

    Kim, W.C. & Mauborgne, R. (2004). Blue ocean strategy. Harvard Business Review. Retrieved from http://hbr.org/2004/10/blue-ocean-strategy/ar/1…

    • 749 Words
    • 3 Pages
    Good Essays
  • Better Essays

    The Blue Ocean Strategy focuses on the three industries that closely touch people’s lives. Areas they looked at were Autos, Computers and Movie and what companies within those fields are doing to managing sustainable profit and growth through the test of time. The creation of a blue ocean strategy places its focus on strategic moves to place their brand in position long past its rise to fame. Rather than focusing on creating a company and battling your competitor’s blue ocean strategy gears to forecasting innovations and products to make oceans of uncontested market space. (W. Kim, 2004) A product strategy…

    • 1376 Words
    • 6 Pages
    Better Essays
  • Good Essays

    The Blue Ocean Strategy is a very powerful innovation process. It strives at creating a profitable high-growth for companies. The objective of this strategy is to create and secure new demand for a product by focusing on groups of customers that have not been targeted before with a strategy that will create a jump in value for both the consumers and the company.…

    • 630 Words
    • 3 Pages
    Good Essays
  • Good Essays

    The blue ocean strategy in marketing is an approach to building a customer base looks to build an entirely new market segment that does not currently exist with other firms. Perfect competition consists of a myriad of competitors in the same industry that are fighting with each other over their slice of the market by offering similar products or substitute products for innovations that already exists. A “red ocean” describes a marketplace where firms are rigorously competing with each other simply to gain a greater percentage of consumers within the existing marketplace. The Blue Ocean Strategy argues that innovative companies will advance, not by battling competitors, but by strategically creating…

    • 993 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Robert, S. K., David, P. N., & Edward, A. B. (2008). Developing the Strategy: Vision, Value Gaps, and Analysis. Havard Business School Publishing.…

    • 1768 Words
    • 8 Pages
    Powerful Essays
  • Good Essays

    When thinking about opening a business, you have to look at whether you want to compete in existing markets or create a new market for your product. When you compete in existing markets, you will find many of them are overcrowded and your business will not flourish in this environment. You should want your business to stand out and become profitable, that is what Blue Ocean Strategy encompasses. It is a new way at looking at the market and based on analysis. This strategy is a new type of mindset, a strategic marketing tool and a new way into the future for new businesses. This paper will discuss the Blue Ocean Strategy and its importance; a product or service that might be considered a blue ocean move and why; and an alternative red ocean move for the same product or service along with the pros and cons of that strategy.…

    • 862 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Walgreens

    • 2172 Words
    • 9 Pages

    This paper will examine the blue ocean strategy theory, the strategic management process, strategic innovation, and strategic planning. Next, this paper will evaluate the application of the blue ocean theory to the Southwest Airlines business model. Lastly, this paper will review the strategic analysis Southwest Airlines, to include providing an assessment of the airlines’ strengths, weaknesses, opportunities, and threats in relation to blue ocean strategy implementation.…

    • 2172 Words
    • 9 Pages
    Powerful Essays
  • Good Essays

    Blue Ocean Strategy

    • 814 Words
    • 3 Pages

    The Blue Ocean strategy version is more pleasant and calm. Imagine the blue ocean of the Pacific close by the French Polynesia, where the waters are blue, clear and have no vicious sharks to eat you. That’s where you want to swim alone, and enjoy the waters and the nature. In this version, the business has an unmarked market spaces so it creates a new demand; consequently, the competition do not matter. This strategy has an opportunity to have a big growth and high profits.…

    • 814 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Ireland, R.D., Hoskisson, R.E., & Hitt, M.A. (2011). The Management of Strategy: Concepts and Cases. (10th ed). South-Western, Cengage Learning.…

    • 5183 Words
    • 21 Pages
    Powerful Essays
  • Powerful Essays

    Below the value innovation is illustrated and highlighting, two basic statements of the Blue Ocean Strategy. While the costs are reduced, customer value is raised, achieving a value innovation. In the red oceans, companies can reduce cost or raise customer value to achieve an increase in…

    • 1775 Words
    • 8 Pages
    Powerful Essays