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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
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