International Journal of Commerce and Managerial Science Research (IJCMSR)

Unleashing the Competitive Environments - A Review Of Blue Ocean Strategy

Authors : M. Vignesh     Volume 1 Issue 1    Pages: 20 - 23

ABSTRACT - According to Michael Porter, competition for a firm can be viewed from five dimensions. Amongst which, the competition from the substitute products and entry of new firms are imminent. However, these competitive forces become unmanageable over a period of time within the confined environment and such traditional competitive rivalry is referred as the red ocean strategy. Hence a new strategy viz., blue ocean strategy was being formulated and envisaged by Chan Kim and Renée Mauborgne. The crux of the concept is value innovation which can be adopted either in product, service or delivery. BOS is meant for uncontested marketing space rather going for a highly competitive environment. This concept along with its importance, differences between the traditional approaches, stages in implementation is being discussed in this paper.

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