ICTACT Journal on Management Studies

Open Access Open Access  Restricted Access Subscription Access
Open Access Open Access Open Access  Restricted Access Restricted Access Subscription Access

Blue Ocean Strategy - Big Vision Small Steps


Affiliations
1 Devi Ahilya Vishwavidyalaya, India
2 Acropolis Faculty of Management and Research, India
     

   Subscribe/Renew Journal


Neither the industries nor the companies are doing all smart things. In fact every industry or company must be definitely having a tumbling road. To improve the quality of success, every firm needs to understand what it did that has made a positive difference, so that it can be replicated. Making smart strategic moves create blue oceans. There is a constant need for businesses to stay ahead in this era of risk and instability as globalization, technological developments and greater transparency have forced organizations to create, innovate and improvise. Innovation keeps the momentum going and companies have to continuously work in Blue Ocean carving a niche in value innovation. This study focuses on Kim and Mauborgne "Four Action Framework" tool of Blue Ocean Strategy implemented by Indian Companies in the last two decades by maximizing opportunities, minimizing risks, lowering the price and adding more value thereby carving a niche in the market.

Keywords

Strategy, Strategic Changes, Blue Ocean Strategy, Value Innovation, Four Action Framework.
Subscription Login to verify subscription
User
Notifications
Font Size

  • Taieb Hafsi and Howard Thomas, “The Field of Strategy: in Search of a Walking Stick”, European Management Journal, Vol. 23, No. 5, pp. 19-507, 2005.

  • Arnoldo C. Hax, “Redefining the Concept of Strategy and the Strategy Formation Process”, Planning Review, Vol. 18, No. 3, pp. 34-39, 1990.

  • Paula Jarzabkowski and David C. Wilson, “Actionable Strategy Knowledge: A Practice Perspective”, European Management Journal, Vol. 24, No. 5, pp. 348-367, 2006.

  • W. Chan Kim and Renee Mauborgne, “Charting Your Company’s Future”, Harvard Business Review, Vol. 80, No. 6, pp. 76-85, 2002.

  • K.F. Pun, “A Synergy Model for Strategic Planning in Manufacturing Enterprises”, West Indian Journal of Engineering, Vol. 26, No. 1, pp. 29-43, 2003.

  • Ron Adner and Daniel Levinthal, ‘Demand Heterogeneity and Technology Evolution: Implications for Product and Process Innovation”, Management Science, Vol. 47, No. 5, pp. 611-628, 2001.

  • Allan Afuah, “Innovation Management”, Oxford University Press, 2003.

  • Sundar Bharadwaj and Anil Menon, “Making Innovation Happen in Organizations: Individual Creativity Mechanisms or Both?”, Journal of Product Innovation Management, Vol. 17, No. 6, pp. 424-434, 2000.

  • R. Kazlauskaite and I. Buciuniene, “The Role of Human Resources and their Management in the Establishment of Sustainable Competitive Advantage”, Inzinerine Ekonomika-Engineering Economics, Vol. 5, pp. 78-84, 2008.

  • Morten T. Hansen and Julian Birkinshaw, “The Innovation Value Chain”, Harvard Business Review, Vol. 85, No. 6, pp. 121-130, 2007.

  • Peter F. Drucker, Clayton M. Christensen and Vijay Govindarajan, “HBR’s 10 Must Reads on Innovation”, Harvard Business Review Press, 2013.

  • Martin Reeves and Mike Deimler, “Adaptability: The New Competitive Advantage”, Harvard Business Review Press 2011.

  • Blue Ocean Strategy, Available at:http://www.profitworks.ca/blog/marketing-strategy/365-blue-ocean-strategy-including-examples-and-pdf-download.html, Accessed on 2016.

  • Blue Ocean Strategy Examples and Return on Investment, Available at: http://www.profitworks.ca/blog/916-blog/marketing-strategy/371-blue-ocean-strategy-examples-and-return-on-investment.html, Accessed on 2016.

  • Blue Ocean Strategy Tools, Available at: https://www.blueoceanstrategy.com/tools/, Accessed on 2016.

  • Blue Ocean Strategy, Available at: http://flevy.com/blue-ocean-strategy.

  • Arthur A. Thompson and A.J. Strickland, “Strategic Management: Concepts and Cases”, 11th Edition, McGraw-Hill, 2001.

  • Ruta Salickaite and Jurate Banyte, “Successful Diffusion and Adoption of Innovation as a Means to Increase Competitiveness of Enterprises”, Engineering Economics, Vol. 56, No. 1, pp. 48-56, 2008.

  • R.M. Kanter, J. Kao and F. Wiersema, “Innovation: Breakthrough Thinking at 3M, GE, DuPont, Pfizer, and Rubbermaid”, HarperCollins Publishers, 1997.

  • Geoffrey Moore, “Darvin and the Demon: Innovating within Established Enterprises”, Harvard Business Review, Vol. 82, pp. 86-92, 2004.

  • Innovation and Competitive Advantage, Available at: http://www.mcl.fh-osnabrueck.de/~temme/tutor/innovate/index.htm, Accessed on 2016.


Abstract Views: 246

PDF Views: 0




  • Blue Ocean Strategy - Big Vision Small Steps

Abstract Views: 246  |  PDF Views: 0

Authors

Anant Gwal
Devi Ahilya Vishwavidyalaya, India
Rajeshwari Gwal
Acropolis Faculty of Management and Research, India

Abstract


Neither the industries nor the companies are doing all smart things. In fact every industry or company must be definitely having a tumbling road. To improve the quality of success, every firm needs to understand what it did that has made a positive difference, so that it can be replicated. Making smart strategic moves create blue oceans. There is a constant need for businesses to stay ahead in this era of risk and instability as globalization, technological developments and greater transparency have forced organizations to create, innovate and improvise. Innovation keeps the momentum going and companies have to continuously work in Blue Ocean carving a niche in value innovation. This study focuses on Kim and Mauborgne "Four Action Framework" tool of Blue Ocean Strategy implemented by Indian Companies in the last two decades by maximizing opportunities, minimizing risks, lowering the price and adding more value thereby carving a niche in the market.

Keywords


Strategy, Strategic Changes, Blue Ocean Strategy, Value Innovation, Four Action Framework.

References