Monday, July 5, 2010
Review of Blue Ocean Strategy Research Paper
The author attempts to review a research paper written "BOS". The link of the original research paper is given below. The research paper will be helpful for anyone who wants to implement "BOS" as a strategic tool for future growth of their companies.
Analysis of the Use of the Blue Ocean Strategy; Case Study Analysis On 14 Different Agencies
Zainal Abidin Mohamed,
Graduate School of Management/ Faculty of Economics and Management
University Putra Malaysia
Blue ocean strategy is attracting a lot of attention these days (in both Academics as well as Managerial quarter .) but since it’s a new idea there is a dearth of good quality research work done in the following field. The given research paper that have been conducted on 14 companies is among the very few original work that had been done in the given field.
The given research is basically exploratory work that includes case study approach as well as in depth interviews and seminars. It had been done on 14 companies that come from various segments such as educational institutes , govt. organizations ,pvt. companies etc. The topic on which research was done was the “ERRC” cycle( Eliminate , Reduce, Raise, Create ).For someone who is not very familiar with BOS, it should be noted that “ERRC” is an important tool that is very fundamental to BOS, it aims at erasing and reducing few of the unimportant elements from the value chain accompanied by raising few and creating entirely new values with the help of innovation so that better solution be provided to the end users. In the given research first 6 out of 23 companies (these companies claimed that they are using BOS) were selected and they were termed as group “A”. Another 20 companies were selected and they were termed as group “B”. Group “B” consisted of companies that were interested in understanding “BOS” in an organized frame work . For these 26 companies a half day seminar was done , After the seminar individual visit were made at each and every of these companies and detailed study of their “ERRC” strategy was made . Though these companies were from different back ground but a lot similarity had been seen in their “ERRC” frame work. Components like cost component and stuffs which were not giving good return, diversification plans etc were put under eliminate and reduce frame work where as for create and raise framework stuffs like customer satisfaction, providing new products and services were considered seriously.
PRACTICAL APPLICATION: the research has given some fresh insights on “ERRC” frame work of the “BOS” and can be used by all types of industries which are willing to implement BOS as a strategic framework for their growth.
SCOPE OF IMPROVEMENTS:- 1> Research paper had been written too short which makes it difficult to comprehend. Making it a bit more elaborative will serve the purpose better.
2> Graphs have not been explained very properly. The attribute taken for the y- axis is not very clear which again makes it difficult to comprehend.