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4.6 Question: Do you think a constant evaluation of strategic direction towards new developments is essential to sustain the business over a longer period of time? Constant strategic evaluation for long term growth Strongly Disagree Disagree Neutral Agree Strongly Agree 1% 3% 6% 12% 17% 17% 30% 42% 38% 34% 0% 10% 20% 30% 40% 50% Renewable energy Telecommunication As shown in the diagram, strategic evaluation and direction towards newer developments are also considered essential by both the sectors. The telecommunication sector agrees on the notion but also regards the importance of maintaining existing systems in place while changing strategic directions. Both the firms highly agree that to perform business over a longer period of time, they have to tackle complexities and adapt to the changes. Therefore it is essential for a systematic evaluation system is place to provide direction to the company for future growth. 4.7 From In-depth Interviews 4.7.1 Question: Performing strategic audits The telecom industry usually performs analytical duties of their own devised actions, but the methods philosophically relates to the methodological tools drawn by Porter (1985) and Andrews (1965). Internal and external analyses are conducted through carefully oriented software programs where logical data’s are provided after the careful examination of key strengths, weaknesses, opportunities and threats. The market analysis is considered in an analytical manner, through surveys and measuring outcomes from investments, methods reflecting the process described in the Porter’s five forces model of industry analysis. The renewable energy side consistently uses similar methods while performing strategic audits but the interviewee also acknowledged the need to develop new processes to evaluate industrial progressions. They concur that the technological fluctuations are more intensive when compared with the telecom industry; therefore the market and industry evaluation process must be swift in order to design relevant business strategies before competitors. 4.7.2 Question: Perceptions about the future business structure Both the individuals from their relative industries confess that formulating positive business strategies is the first basic function they undertake before any other administrative duties. Additionally they also admit that the competitive future of the business marketplace is getting uncertain day by day. As a result, the ‘Porter’ or ‘Ansoff’ method is losing its practical affectability consistently along with its theoretical concepts. The entrepreneur representing renewable energy argues that business strategies are turning to be short term regarding product development and approaches. On the other hand, both the enterprises stress the importance of long term objectives and visions to perform operations for endless generations. 4.7.3 Question: The ‘Blue Ocean Strategy’ – reality or myth? This part of the interview focuses on identifying the familiarity of the individuals with the term the ‘blue ocean strategy’ and if they practically apply the method while strategizing. The entrepreneur from the renewable energy exclaimed that their business is almost entirely based on the blue ocean strategy. The market niches they operate consist of a high entry barrier, low competition www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 28
and high imitation costs. He also explained that their strategy is also similar with the BOS as the business objective is totally based on innovation and the development of existing products. The BOS assumption of the telecom sector is focused upon creating new product models based on the existing telecom industry such as 3G or 4G services. However, the drawbacks of the BOS such as the market being saturated (turning red) day by day and business strategies are getting rigid and imitated by rivals along with clone products are major barriers behind implementation. The interviewees concluded with the urge for newer strategic methods to meet these challenges. 4.7.4 Question: Application of the dynamic strategy process The thorough interview reveals the potentiality for newer strategic processes that would enable firms to compete in the dynamic and constantly changing environment. The individuals’ produced mixed reactions on the statement. They explained that the market risks associated with the BOS or any newer strategy models is very high. Therefore, while performing in a high barrier to entry market, any minor mistakes will result in lost market share and ultimately the company’s insolvency. However, conclusive evidence did show the concern of the respective individuals about market adaptation becoming increasingly prescriptive. They identified the need for newer strategic perspectives that can sustain a BOS or else provide newer ways for competitive strategy formulation. Under the following circumstances, the application of the dynamic strategy making process will provide new prescriptions for strategizing, which will be proven in the next chapter. 4.9 Discussion and Findings The first hypothesis was proved invalid from the discussion of strategic literature and case study analysis. Theory and findings prove that there are several ways of formulating business strategies rather than concentrating only on market positioning differentiation, low cost and focus. Hypotheses 2 was tested by measuring strengths between research data’s from the questionnaires. Respondents of both the sector agreed that innovation is important to carry on the business and similarly it is also important to update the business strategy according to environmental transformations. This confirms hypotheses that business organisation should come out of the traditional methods of strategy formulation and adopt new methods of strategizing that reflects the developments of the industry structure. Respondents from both the sector highly agreed to the fact that pursuing unique and untested business strategies carries major financial risks. The calculation found a stronger relationship among the dependent and independent variables. Majority of the respondents disagreed or else was neutral to the suggestion of the importance of new tools of audits. They were reluctant to adopt the new methods of strategy formulation and audit tools. The overall evaluation merely rejects hypotheses 3 and confirms that the blue ocean strategy, although is a useful method, cannot be used for long term strategizing and investment. The final hypothesis was tested using the regression analysis and the mean of the responses was also measured. The analysis found a stronger relationship among the variables. Respondents agreed that they would pursue new market development opportunities rather than performing on existing ones. Similarly they also regarded that a constant evaluation of strategic directions is also essential to sustain the business over a longer period of time. The final analysis proves hypothesis four that strategy formulation consists of a dynamic and evolving process. The evaluation of results from questionnaires and knowledge from in-depth interviews can be accumulated to conclude that companies truly perceive a business strategy that can separate itself from its competitors and can also generate extravagant profits. However, the blue ocean strategy is still a developing idea in terms of the strategy formulating process therefore, although companies pursue innovation and uniqueness, they do not often know the path to get there. In depth interviews also shows that companies still believe that traditional analytical approaches while conducting strategic audits and determining organisation’s strategic direction are the best methods that exist in the strategy literature. In reality, the blue ocean strategy truly exists and the phenomenon has also occurred before. For example, the Internet, and dot.com companies (eBay, Priceline, Amazon) were blue oceans when first www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 29
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 24 and 25: Figure 1 The Value Innovation Proce
Page 26 and 27: The “dynamic strategy” model is
Page 28 and 29: Importance of technology, innovatio
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
Page 74 and 75: therefore the investments need a co
Page 76 and 77: developed by NHCC. In fact, the pos
Page 78 and 79: Table 3: The SWOT Matrix for NHCC O
Page 80 and 81:
A Comparative Study of Gross NPA of
Page 82 and 83:
3.2 Priority Sector advances Priori
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3.1 Bank-wise NPA in 2009 (Amount i
Page 86 and 87:
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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