BLUE OCEAN STRATEGY

Most firms seek survival and growth by strategizing within a specific economic structure, dictated by demand and availability of resources. But some realize that structures and boundaries exist only in managers' minds and therefore, existing market structures should not be allowed to limit thei...

Full description

Saved in:
Bibliographic Details
Published in:Sansmaran Research Journal 2012-06, Vol.2 (1), p.45-46
Main Authors: Ghura, Amarpreet Singh, Hattangadi, Vidya
Format: Article
Language:English
Subjects:
Competition
Digital audio players
Economic structure
Frost, Robert (1874-1963)
Globalization
Innovations
Product development
Quality control
R&D
Research & development
Suppliers
Supply & demand
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Most firms seek survival and growth by strategizing within a specific economic structure, dictated by demand and availability of resources. But some realize that structures and boundaries exist only in managers' minds and therefore, existing market structures should not be allowed to limit their strategic thinking. The crux of the problem is now to materialize it. This requires a shift of focus from supply to demand, from competing to value innovation via the concurrent chase of differentiation and low cost. This is the famous Blue Ocean Strategy. Globalized markets have seen technologies getting obsolete within short span of time, productivity falling within short intervals, supplies exceeding demands, products having shorter life cycle, uncontrolled substitution and new entrants on prowl in every sector. Under the Blue Ocean Strategy, the name coined for this mode of thinking by W Chan Kim and Renee is called, no industry is attractive or unattractive per se because the level of an industry's attractiveness can be altered through companies' conscientious efforts.
ISSN:2278-7801