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Figure 1 The Value Innovation Process (Kim and Mauborgne, 2005) Drawbacks of the Blue Ocean Theory The blue ocean theory suggests creating new market spaces for companies to achieve the pioneering advantage. There is likely to be no competition for the first movers, therefore it can position itself to be the market leader and gain maximum of the market share. However, companies creating a blue ocean will face increasing complexities as the brand and its products will be unknown to the customers. Therefore, late movers can use the marketing investments of the pioneer and acclimatize its product and services, to take over the fast mover’s market share. Pioneers rely on high investments in R&D and marketing activities to inform customers about the new offerings. Second movers can use it to their advantage by educating itself from the pioneer’s mistakes and develop better products (Demos, Chung and Beck, 2001). Therefore being the pioneer depends upon the strategic capability of the company to create high entry barriers for competitors. It depends on the ability of the company to develop inimitable products which requires high investments and risks. Furthermore, the blue ocean theory assumes that organisations compete in a highly competitive environment where market entry and product differentiation is low and high exit barriers exist. Although a part of this theory makes sense, it disregards recent emerging industries where different entry barriers, market growth and product differentiation exists, contemplating a dynamic nature of strategic decision making. Assumptions of the blue ocean theory considers market conditions of a red ocean to be stable whereas in reality, recent firms compete in a dynamic and changing business environment where strategic decision making is a continuously evolving process (Mintzberg, 1988). Evaluation of the blue ocean strategy enables to develop two distinctive hypotheses to make room for further empirical research. Hypothesis 3: The blue ocean theory is a practically suitable method to formulate business strategies for today’s organisations. Hypothesis 4: Strategy formulation is a dynamic and evolving process. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 22
Conceptual Model The Dynamic Strategy Framework Constraints: High level of industry competitiveness. Constraints: Benchmarking by competitors. Traditional Strategy Formation is a prescriptive and descriptive process. Introduction of Generic Strategies based on market positioning and industry analysis. Constraints: Changes in the external business environment. Constraints: Constant shifts in the external business environment. Constraints: Benchmarking by competitors. Hypotheses 1 Hypotheses 2 Emergence of the Blue Ocean Strategy – creating new markets through value innovation. Constraints: Lack of theoretical and practical application. Hypotheses 3 Hypotheses 4 The Dynamic Strategy Framework Strategy is a dynamic and evolving process. www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 23
Page 2 and 3: Table of Contents Articles STUDY ON
Page 4 and 5: vantage of aligning the sales techn
Page 6 and 7: 4. RESULTS AND DISCUSSION 4.1 DEMOG
Page 8 and 9: level. Young consumers who fall in
Page 10 and 11: 13. Hiu A, Siu N, Wang C, Chang L.
Page 12 and 13: asic information about the MGNREGA.
Page 14 and 15: The MGNREG act rightly pointed out
Page 16 and 17: H.S.C 01 (5.26) 02 (6.45) 01 (6.25)
Page 18 and 19: H.S.C 03 - 02 - 02 - 7 - 07 (4.66)
Page 20 and 21: Blue Ocean Strategy and the dynamic
Page 22 and 23: The market positioning concept was
Page 26 and 27: The “dynamic strategy” model is
Page 28 and 29: Importance of technology, innovatio
Page 30 and 31: 4.6 Question: Do you think a consta
Page 32 and 33: introduced. Every innovation; telev
Page 34 and 35: Porter, ME (1980) Competitive Strat
Page 36 and 37: possible alternative techniques, th
Page 38 and 39: 0.5. So the factor analysis may be
Page 40 and 41: [3] Boshoff, C 1997,‘An Experimen
Page 42 and 43: Industry Life Cycle Curve: The Wiz-
Page 44 and 45: Segmenting the Market Geographic: T
Page 46 and 47: The basic objective of WTO were: Tr
Page 48 and 49: the application of intellectual pro
Page 50 and 51: Under The US Endangered Species Act
Page 52 and 53: organization is one continued failu
Page 54 and 55: upwardly through international coor
Page 56 and 57: Public Distribution System and its
Page 58 and 59: Compone nt Tota l Table 2 Service Q
Page 60 and 61: Table 3 Satisfaction of PDS functio
Page 62 and 63: Table 7 Correlation - Adequate Quot
Page 64 and 65: education and across the business s
Page 66 and 67: Fig. 1: Model for Management Educat
Page 68 and 69: forms of competition from those tha
Page 70 and 71: Kohn. A. (1986) No Contest: The Cas
Page 72 and 73: weaknesses in the context of the cu
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therefore the investments need a co
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developed by NHCC. In fact, the pos
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Table 3: The SWOT Matrix for NHCC O
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A Comparative Study of Gross NPA of
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3.2 Priority Sector advances Priori
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3.1 Bank-wise NPA in 2009 (Amount i
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3.3 Bank-wise NPA in 2011 (Amount i
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5) Conclusion: The level of NPAs in
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million customers in 118 countries
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The Big Mac concept is very popular
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Indian farmers. "Ask McDonald's abo
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Fig.No.4: Shows the preference towa
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perception towards quality of McDon
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Zone of Tolerence for the Banks: Ex
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Customer Satisfaction Kotler and Ar
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The service quality attributes are
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Ing. Vysya and Karnataka bank, arri
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E20 .891 E21 .876 E22 .395 Extracti
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Brown T J and Churchill, G A and et
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