The Rise of Blue Ocean Strategy and Leadership

Abstract

From last thirty years, competition has been the core of corporate strategy. In today's world, no-one can talk about strategy without including the language of competition. Since the level of competition has intensified, all companies strive to win competitive advantage by implementing various kinds of corporate and business level strategies. However, just by concentrating on the competitive strategies, many corporations have overlooked a very essential and significant aspect of strategy. This includes instead of having head to head competition with the competitors, companies try to make the competition negligible by creating a new uncontested market space where there are no competitors, which is known as "Blue Ocean”. Blue ocean strategy seeks to revolve concept of strategic management by substituting "competitive advantage” with "value innovation” as the central objective where companies try to create customer demand and exploit untapped markets. This paper is an attempt to understand the concept of blue ocean strategy and investigate the application of this strategy in the different industries.