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Essay / Commentary on the Blue Ocean Strategy - 682
IntroductionThis document is an attempt to explore the Blue Ocean Strategy which surfaced in 2004 and which, in a few months, revolutionized ways of thinking and decision-making processes decision of many companies around the world. . The terms "red oceans" and "blue oceans" became part of the business dictionary and many business journals began using these terms. They are linked to the themes of "critical response" and "critical thinking" because the very creation of Blue Ocean Strategy is a challenge or disapproval of the entire field of strategic management, an area of study that has been studied , explored and discussed by many well-known authors over the past five decades and even before. While strategic management constantly strives to outperform the competition, the blue ocean strategy cites this approach as short-sighted and insufficient and instead advocates the creation of blue oceans to make competition unnecessary. The authors of this strategy developed the Blue Ocean Strategy because they engaged in a process of critical reflection and response and mustered the courage to challenge dominant and widely held assumptions about competition. Although the concepts of innovation and creativity existed before the advent of the blue ocean strategy, the blue ocean strategy has provided the business world and academia with a new perspective to examine innovation, creativity and value creation (Thompson & Strickland, pp. 314). -316, 2003). Currently, many researchers disagree with the theory, citing it as irrelevant, inconsistent, and lacking theoretical and research foundations. On the other hand, there are scholars who are engaged in the process of defense...... middle of paper......, Christian. 2011. Blue Ocean Strategy - A glimpse into the future of customer relationship management. GRIN Verlag. Henry, Anthony. 2008. Understanding Strategic Management. New York: Oxford University Press. Hill, Charles. and Jones, Gareth. 2009. Strategic management theory: an integrated approach. Connecticut: Cengage Learning. Hitt, Michael A., et.al. 2009. Strategic management: competitiveness and globalization: concepts and cases. Connecticut: Cengage Learning. Kim, W. Chan. and Mauborgne, Renée. 2004. Rollin King and Herb Kelleher. Harvard Business Review, October 2004, pp. 1-9 Kim, W. Chan. and Mauborgne, Renée. 2005. Blue Ocean Strategy: How to create uncontested market space and make competition unnecessary. Harvard Business Press. Thompson, Arthur A. and Strickland, Alonzo J. 2003. Strategic management: concepts and cases. New York: McGraw-Hill/Irwin.