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introduced. Every innovation; television, gaming consoles, computers, tabs, laptops, notebooks were
blue oceans until it became red. From the secondary data’s it can also be gathered that blue ocean
strategies can be applied to any industry, by achieving the value-cost trade off. However,
differentiation does not last long when it’s been copied, and the ocean turns red. Therefore, companies
create constant blue oceans in a dynamic manner achieves competitive advantage over a longer period
of time. Apple and Google are such examples which have realistically achieved competitive advantage
by executing the concepts of the blue ocean strategy in their own unique and dynamic fashion.
5.0 Justification of the “dynamic strategy” framework
Hypotheses test results show that the “dynamic strategy” framework provides a valid outcome of
research conducted throughout this paper. It provides a critical understanding of the nature of strategic
management and how business strategies evolved over time. The framework was developed by
ambiguous assumptions that emerged out of the literature review. The purpose was to back the
arguments based on specific research methodologies and analyse primary and secondary information
to reach a positive outcome.
The primary data analysis was conducted on the telecommunication sector with the assumption that
they formulate strategies on a consistently changing environment and consists of a product line that is
highly innovative. The renewable energy sector maintains business activities based on technological
innovation, imaginative business ideas and unique strategic approaches. It can be seen that both the
industries can be related with the industry structure favorable with the BOS. Additionally, the
secondary data analysis was entirely conducted on two companies applying the BOS to maintain its
operations.
The aim of this research was to confirm that strategy development is a dynamic and ever-changing
process of transformation. In addition, it aimed to identify the function ability of the newest
development of the strategy literature: the BOS. The complexities regarding the BOS discussed
throughout the paper depicts that it is often critical to maintain a solid blue ocean strategy over a
longer period of time. Therefore, the necessity of a dynamic strategy process is just a matter of time.
The framework mainly highlights the primary issues of how strategy evolved over time and the
limitations that arises accordingly. It is the outcome of the key developments of the strategic literature
and does not aim to provide any tools or methods for businesses to construct strategies. The primary
goal for the dynamic strategy framework is to provide a simple but critical understanding of the current
strategic dimensions to business organisations, and to demonstrate that strategies should be a process
of continuous development positively integrated with the shifts of the external environment to sustain
the competitive advantage over a longer period of time.
5.1 Recommendation
Business organisations attempting to perform activities in the ever changing global marketplace adopt
a range of strategies. The dynamic strategy framework can be useful for those organisations that need
to be vibrant in their decision making and strategy development. The recommendation for these
companies is to evaluate its business surroundings by using newer methods and tools that can be
applied to the current establishments. To sustain the business over the long run, companies of a given
industry has to reinvent them, maximize risks and reconstruct market boundaries consistently to
achieve higher results and a profitable return on investments.
5.2 Conclusion
The dynamic framework constitutes the need for business enterprises to understand the drawbacks of
established principles. The framework will provide a strong theoretical background for further research
regarding strategic management. The implication is to take this research to the next step by
constructing the ‘dynamic strategy model’ based on the theoretical assumptions provided in the paper
and from the results gathered through hypotheses testing. To avoid future research limitations, research
should be conducted on different industries of different shapes and sizes. This paper is assumed to be
the beginning of many research problems regarding strategic management and planning at the
competitive and futuristic marketplace of the upcoming centuries.
www.theinternationaljournal.org > RJEBS: Volume: 02, Number: 08, June-2013 Page 30