BDM144 MSC International Business Dissertation Sample

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Introduction

Blue ocean strategy has given a great boom to the organization and the work they perform for developing the products and services. This makes the business firms to explore the new areas, where it could have effective innovation of products in the market. The topic is very wide in nature as most of the organizations are focused on Red Ocean and minimum organization leads to having their focus on blue ocean strategy. This is required for meeting with the needs and goals, whereas it helps in grabbing the position in the market. The research will focus on the business growth that can be attained with the use of blue ocean strategy for having development and sustainability.  The research will focus on the growth and development that could be achieved by the business with the discovery of the new areas so that it could earn high profits and deliver success to the business (Mauborgne, 2014). This is required for having the organization to develop sustainability in the organization for delivering products and services to the customers. The significance of blue ocean strategy will be taken into consideration which is required for attaining success and growth in the organization.

The research will also explain the different types of challenges that took place in the organization with the development of blue ocean strategy. This is required in the organization so that it could make the customers attracted and deliver success to them. The major challenge that took place in the organization is changing in the preference of the customers as well as different types of resources, which are required in the business. The preference of the customers makes the business to identify and assess the market and customers so that adequate products and services could be provided. The study will elaborate the strategies which could help in resolving the challenges and risks that are associated with it in the business. The resources are different in nature and its allocation needs to be made accordingly so that losses would not persist in the organization. This help in grabbing the opportunity and providing gratification to the customers, which is basic need of the organization. This makes the business to innovate the products and services with the use of technology in such areas which could make them to large number of customers and profits. This also helps the organization to be competitive market which is at high range nowadays.  This makes the organization to adopt the blue ocean strategy in an effective and required manner. The role of blue ocean strategy in the market with its growth and development of the organization will be taken into consideration. This will make the business to expand its business and have innovative products and services in the market.

This will also explain the measures that have been taken into consideration for collecting the required data into the study. The research will carry the usage of qualitative and quantitative research methods which are considered as pivotal for the research. These methods make the research to have required and valid data which has been taken from different respondents. The data is collected from different respondents and make it be presented with graph, which is easy to be understood. The qualitative method makes the derivation of data to be presented in an unstructured manner while quantitative method allows the data to be presented in structured manner (Dehkordi et al., 2012). The qualitative method enables the data to be collected from the sources by analyzing their views, opinions and attitudes so that analysis could be made. The quantitative method helps in using these methods for having the derivation of opinions of the people with the usage of sources such as survey, face to face interview, polls and questionnaire etc. It has been considered as the best source for collection of data as it is authentic in nature and persists the valid data. Primary data will be collected in the research, which will make the collection of data from the respective sources for analyzing the growth that is driven in business with blue ocean strategy.

Primary research data methods make the collection of data from different respondents by having effective communication with them so that data could be provided easily. This enables the respondents to give their responses directly to the research without manipulating the data. The research will be made with the use of adequate information and data for analyzing the role of blue ocean strategy in the business for its growth and sustainability.  This will make the research to have answers to the research questions and make the objectives to be archived. The challenge which takes place with the implementation of the strategy in the business will also be taken into consideration and the methods which could help in meeting with such challenges with also be explained. This will be determined with the responses that have been taken from the respondents by making them take participation in the survey.

Research Aims/Objectives/Questions

In concern of this research study, the main aim of this research is to analyze the higher business growth through the Blue Ocean Strategy in order to build the economic policies within a particular country in respect to the companies. For accomplishing this research aim, there is a need to achieve below-mentioned objectives:

  • To study the significance of Blue Ocean Strategy in the context of higher business growth
  • To identify the challenges while applying the Blue Ocean Strategy in order to get higher growth
  • To suggest the ways to overcome these identified challenges for getting more effective outcomes

At the time of carrying out the research, there is a need to provide the answer to the below-given questions:

  1. What is the significance of Blue Ocean Strategy in the context of higher business growth?
  2. What are the challenges that are faced by the businesses while applying the Blue Ocean Strategy in order to get higher growth?
  3. How the challenges can be resolved for getting more effective outcomes?

The above research questions and objectives will be taken into consideration for meeting with the needs of the study. This is required for having clarification of the required number of questions in the research paper by collecting the responses for the same. This will also make the use of research methodology, which will help in deriving the correct responses for evaluating the blue ocean strategy in the growth and development of the business.

Literature review

Blue ocean strategy has been adopted by several business firms so that they can cooperate in the market and lead to attaining high growth and prosperity. The major motive for carrying and implementing this strategy into the business is to create a new field and pace for the customers for purchasing the products and services. In the opinion of (Kim and Mauborgne, 2014), blue ocean strategy is mainly adopted for lowering the cost in the market so that it could increase a large number of customers. This also makes the business to generate its stake in the market or to enter into the existing market. People prefer those products and services that have been made for them with good quality but at a low cost. Most of the consumers are ready to sacrifice with the quality but they do not go beyond the cost they actually want to pay for the commodity. In addition to this, it also identifies the boundaries of the market and structure of the industries so that it could develop and maintain the new structure of industry for creating a new market. This also helps in making it meet with the competition that persists in the market so that it could manage the resources and lead to tackle the worse situations.

In contrast to this (Mi, 2015) said that blue ocean strategy makes the business to focus on cost rather than quality which affects the consumers at large context. This also affects the services that have been laid by the employees to the respective customers as this reflects upon the influencing power.  This also affects the market penetration and makes it analyse the demands of the customers so that it could help in meeting with the needs and gain a competitive advantage. This is mainly due to the expansion of the market that has not been covered previously. The preferences of the customers that changes with the passing time affect the strategies that have been adopted in the business. This makes the business to find alternatives for meeting the problems and hurdles that would be carried in the business. Blue ocean strategies give an option in contrast to the red ocean for the development and formulation of products and services by uncovering the market that is not existence.

According to Dehkordi et al. (2012), the blue ocean strategy advocates seeking new ways to grow unchallenged market space that makes the existing competition inappropriate and avoid the need of companies to involve in long-established competition. The significance of blue ocean strategy can be analyzed in the study of Bourletidis (2014) which stated that this strategy is important for business growth as it seeks new verticals and avenues to earn high profits when there is limited opportunity to grow. Buisson and Silberzahn (2010) further elaborated that creation of new market space means that company is being innovative and innovation have been considered to support business growth. The study of Kim and Mauborgne (2014) analyzed that developing a new market place can lead high potential of growth for companies to take first-mover advantage. It can be said that blue ocean strategy has unique features that allow business to introduce a new product/ service to capture new demands, earn profit and provide opportunity to grow in the new marketplace. Here, the company has high potential for growth as it can price the product at high cost considering its distinct features and new and growing customer demands.

Several studies have established that pursuing blue ocean strategy is associated with challenges and risk. The study of Hollensen (2013) described that companies have faced difficulties in getting right type of blue ocean strategy to tap in new markets. This has resulted in going for unprofitable new markets. Another challenge as stated in Wubben et al. (2012) study mentions that first-mover advantage has not been effective when the market is entered too early. Going in too early in a new market pose challenge in marketing the products where the customer shows less understanding of the marketed product.  In related context, Dehkordi et al. (2012) study revealed that getting in a new market early have been a  challenge to sell products and create new demands due to less technological development and access.

In relation to the ways deal with the challenges in pursuing blue ocean strategy, the study of Agnihotri (2016) identified that companies need to engage in a detailed process of research in order to identify right kind of blue oceans strategy to practice for their particular industry and nature and type of business.  At the same time, Kim and Mauborgne (2014) suggested marketers undertake market research on the potential target market to identify their political, economic, social and legal environment, level of technological development and environmental considerations for the product to establish that market is ready for the new product.

Red ocean VS blue ocean

Red ocean strategies are carried by the business in the existing market. This identifies the space that has been carried in the market that already exists so that it could develop its products and services accordingly. In red oceans, it identifies the boundaries of the market so that it could help in meeting with the competition and can take make its pace in the existing market. This makes the development of varies products and services and leads to having multiple substitutes present in the market (Agnihotri, 2016). This creates a cut-throat competition in the market which makes the products into commodities and leads to blood rivalries in the market. This is termed at red oceans in the market due to the high level of competition. While the blue ocean makes the industries to create its existence in an unknown market. This makes the business to launch its services and products in the market without having any competition. This gives its focus on generating goodwill rather than fighting for any products or services in the market. This makes the development of demands and makes the growth of opportunity which is profitable and rapid in the market. Blue ocean strategy carries a profitable growth in the market as this is vast and deep in nature (Burke, et. al., 2016). This makes it grow at wide-scale and have deep research in the market.

Blue Ocean strategy tools

Blue ocean strategy makes the business to grow at a large scale with the production of those products and services which are preferred by the customers and providing them at a large market. The strategy needs to be developed and implement by rethinking over the opportunities that would take place in the market. This will also help in discovering new strategies and market that has not covered or use by the business firms.

Strategic Canvas– the major step that needs to be carried in the business is the evaluation of the competition and investments that have been made by the business firms. This makes the business to compare its services and products that have been made for the customers. This would help in making it form strategies that could help in creating differentiation and lead to a reduction in cost and elimination of competition. The elimination of the competition in the market makes the business to make its investment at the place where the requirements are higher (Orlov and Chubarkina, 2017). This also makes the business to focus on the differentiation strategy that will make it develop the products and services that are required by the customers.

Who are no users– This makes the generation of a new way for thinking in respect of the new market. This makes it have diversified solutions for non-users so that satisfaction could be provided to the customers. The types of non-users are-

First-tier users– The first-tier users are the users that are most close to the existing market and mentally no users for the industry. These are the buyers which make the minimum purchase if any commodity from their necessity. This makes the business firms to provide leap to the customers so that they can increase their purchase and lead to earning profits. This makes the business to think about the purchasing power of products and evaluate how many products are purchased by the customers and its frequency. This makes it ensure the tax planning, tax management for the accounting year so that production of relevant products could be made for multiplying the purchase of users.

Second-tier users– These are the users who consider the products and services served by the business as their option for the fulfilment of their needs and wants. These are the consumers who never wanted the products but due to their need, they need to avail it for satisfying themselves. These are the consumers whose needs and demands are required to be estimated so that it could help in offering a great deal and capture the at a great extent.

Third-tier nonusers– these are the consumers which are the furthest from the market as they never thought of availing the products and services from the market offerings. These are the non-users which are unexplored and whose needs are not identified. This makes them to identify and evaluate the common needs of the customer so that the production of products and services which could make the customers gratified (Aithal, 2016).

Visual exploring– This is required for identifying the needs of non-users as this is difficult for a business to evaluate the needs of the customers especially the non-users as asking them about their preferences is not viable.  This makes the organisations develop certain campaigns or programs that will help in making the employees to analyse the needs of the customers. Management skills are preferred in this case so that the needs of the employees can be easily predictable. This involves various strategies at this level such as-

Take the staff into observation field– This is required in the business to identify the areas where customers have wide scope for grabbing the products. This makes them to find out the weak points of the customers so that problems could be resolved by having multiple solutions. This needs to have management-level skills,s which would easily establish the standard for measuring the demands and needs of the customers (Sitinjak, et. al., 2018).

Conduct culture probes– This makes the business to provide an image of products or services to the non-user so that they can formulate the strategy which is required for making the stories. This will make the customers bring them together so that they can formulate the stories and provide a solution to the problems. This will make the business person have various solution to the problem of the non-user.

Storytelling– The storytelling campaigns are made to identify the needs of the customers by making them tell their stories. This will provide an insight into the problem that has been identified during the stories. This will ensure the capturing of new market and the customers by providing them with products by fulfilling their needs.

Observational research– This makes the people observe the users while selling their products and services at different malls, parties, restaurants etc. This makes them analyse the behaviour of the people by having communication with them. This will help in identifying the points where they are lacking in satisfaction level. This will make them earn high profits by rectifying the needs of the customers (Carton, 2017).

The tools and techniques make the business to have the innovation of new products and services by capturing and evaluating the market. Blue ocean strategy makes the identification of trends and market that has not been identified previously. It very well may be said that blue sea procedure has one of a kind highlights that enables the business to present another item/administration to catch new requests, procure a benefit and give chance to develop in the new commercial centre. Here, the organization has a high potential for development as it can value the item at mind-boggling expense considering its highlights and new and developing client requests. This makes it capture and identify the new demands that will help in meeting with the customers with the development of new products and services. This creates a unique demand for the establishment of products for capturing new products.

According to (Randall, 2015) Development and establishment of the market with the development of new products and services make it to evaluation the market that identified economic, political, legal, social and technological envelopment. This makes it introduce the new products and services with the identification of several components so that they could be satisfied. Blue ocean strategy makes the development of new products and services as per the needs of the customers which could make the business to grow at a higher scale. Blue ocean strategy has remarkable highlights that enable the business to present another item/administration to catch new requests, win benefit and give the chance to develop in the new commercial centre. Here, the organization has a high potential for development as it can value the item at a surprising expense considering its unmistakable highlights and new and developing client requests. The development of technology makes the business to produce the products and services with the implementation so that the market could be covered. This makes the business to grab the positioning in the market by introducing the new products and services which could satisfy the customers.

Innovation with the blue ocean strategy

According to (Leavy, 2018) innovation has taken place at a great extent in the market and made it garb the positioning in the market. This is required for the development of products and services which could help in mitigating the problems that could take place in the market. The growth of the business can take place by discovering the market and the trend that could take place in the market. This makes the business to meet with benchmark that has been set with the attainment of profits by developing the products and services which could satisfy the customers. This can also make the business to implement the new technology for evaluating the needs of the market and lead to satisfying the customers. This also makes it satisfy the customers and meet the competition that would take place in the market. The innovation is made as per the requirement of the customers so that it could help in satisfying the customers. As per the opinion of (Borgianni, et. al., 2012), blue ocean strategy makes the business to have suitable products and services in the business with optimal utilization of the resources. Blue ocean strategy makes the business to identify the undiscovered areas so that it could help in generating its stake in the market. Similarly, the innovation of new products will automatically attract the customers and make the business to grab the position in the market. this will make the organization to have sustainability and effective growth in the market of high demand.

In contrast to this (Aboujafari, et. al., 2013) gives his deep consideration on the aspect that innovation in the products and services do not go with the blue ocean strategy in the business. This makes the organization bear high loss in the organization and makes the organization to suffer from number of problems. This makes the organization to develop its system accordingly so that it would not suffer from loss. The growth of organization depends on the resources and innovation which has been made in it for the development of products and services. In new discovered market, innovation does not suit at his best as this reduces the capacity of the organization and leads to diminishing the interest of the customers. The innovation is required at the places and organization where it has large number of customers. This needs to be evaluated so that it could help in making the development of products and services as per the requirements of the company. The innovation is required at the places for having large number of customers. In brief, it can be said that the innovation could not be embraced in the organization with the blue ocean strategy as this makes the organization to suffer from loss and problems.

Significance of Blue Ocean strategy

As per the opinion of (Fletcher, 2017), blue ocean strategy helps in making the organization to develop its products and services as per the needs of the customers. The organization which prefers the red ocean strategy has to meet with huge competition which is most easy to meet with. This affects the growth and development of the organization. The red ocean strategy makes the organization have irrelevant competition in the market and make it face cutthroat competition. On the other hand, blue ocean strategy makes the organization to use the resources in effective manner so that they could meet with the competition. This makes the organization have such products and services which has not been produced or applicable in the market. The optimal utilization of resources could also take place and help in meeting with the needs of the customers. In the words of (Mi, 2015), red ocean strategy makes the organization survive in the market where there are high profits but with utmost competition. This affects the organization and its survival in the market as high competition makes the organization to dissatisfy the customers. High level of competition makes the organization to suffer from losses and create a drastic situation in the market. This makes the organization to opt the blue ocean strategy so that it could make the competition to be met in the market. This makes the production of those products and services in the market which makes it create the specific demand of the people. The demands of the people could be made in the blue clean strategy which makes it grab the opportunity in the market (Roth, et. al., 2018). This helps in satisfying the customers and leads to achieving the target goals and objectives.

In addition to this (Alghamdi, 2016) said that adoption of blue ocean strategy in the business makes it increase the demands and make it have such products in the market which could make it have its existence. The companies find it easier to adopt new technology and have innovative products and services in the market. The innovation does not make it increase the demands and supply of the customers. The demand and supply of the organization depend on the requirement of the customers and the satisfaction which is provided to them in the organization. The business that attains the blue ocean strategy in the organization makes the supply of those products which are demanded and expected by them. The demands and supply of the business depend on the blue ocean strategy so that it could help in grabbing the opportunities in the market. The attainment of goals of the organization depends on the products and services which are preferred by the customers. The blue ocean organization make the production of those products and services which are preferred by the customers and do not have any competition in the market. For example, Apple was not able to have its stake in the market with PC industry but with the development of iPhone and iPod, it has captured and made its stake in the market.

In the opinion of (Parvinen, et. al., 2011), the growth and development of the organization can take place with a large number of customers in it. The industries which are competitive in nature are not attractive to the customers as this does not make the attainment of profits in the industry. High level of competition takes place due to similar products and services that have been provided by the firms in the market. The greater the competition, high dissatisfaction to the customers arises. The increasing competition does not make the organization to meet with changes that persist in the environment. The competition which increases day by day due to the existence and arrival of new firms in the market causes a negative impact on the customers. In the words of (Siegemund, 2008), the optimal utilisation of resources in the organization can be carried with the adoption of blue ocean strategy. The competition does not affect the customers but the changes in the products and services which are above the competition influence and attracts the customers. A firm who produces and provided distinctive products and services in the market is preferred by the organizations. Many organizations do not prefer to enter into the red ocean and meet with competition as they prefer blue ocean strategy and enter into the market with distinctive and quality products and services. The major aim carried in blue ocean companies is to have large number of customers so that it could meet with needs and wants.

Moreover, the blue ocean organization makes it attain success in the market with the production of defined products and services as well as capturing the market. The success of Blue Ocean makes the industries to attract the other organizations and firms as well. This makes the organization have such strategy which makes it different from one another. The attraction of other firms makes the blue ocean to be converted into the red ocean which diminishes the customers and led to decrease its profits. In the opinion of (Hersh and Abusaleem, 2016.) blue ocean organization makes it have potential customers in it and grab the marketing opportunities. This also makes the organization to have effective customer relations with each other so that it could help in satisfying the customers. Customer relation management makes the organization to have its stake in the market and have the respective flow of goods and services. The blue ocean organization makes the organization to set the desired number of customers which could help in grabbing the position in the market.  Moreover, (Savage and Brommels, 2008.) said that the change that took place in the location helps in having increment in the demands of the customers and grab the position in the firm. The effective shift of place and discovering the interest of people makes the increment in demand and grabbing the position in the market. Customers are in search of new products and services which get accomplished with the blue ocean organization. The discovery of new area and location helps in having large number of customers and increases the income of the company. Shifting in the location makes the customers raise their voice for the products and services which are needed by them. The location preference and change increase the demands of the customers and lead to attaining future propensity. The future aspirations could be met with the development in the areas of where demand is high. The embracement of blue ocean strategy makes the business to spread its services globally. The growth of the business with blue ocean strategy makes it become the global player. This makes the business to have its stake in the market and grab the opportunities which could help in having optimal profits.  The global expansion of the organization makes the organization have large number of customers and make to grow at defined and optimal speed in the market. Blue ocean strategy makes the organization to develop in an effective and rapid manner which also helps in meeting with needs and wants.

Challenges that are faced by the businesses while applying the Blue Ocean Strategy in order to get higher growth

Generally, Companies that use the blue ocean strategy get the benefits without the credible challenges faced by the businesses for ten to fifteen years. The reason is that blue ocean strategy makes significant economic and cognitive barriers to the restriction. The customers at the huge numbers are immediately attracted by the Blue ocean creators. The Blue ocean creators can produce scale economies rapidly, putting would-be imitators at a prompt and continuing disadvantages. In Blue Ocean, the demand is created rather fighting over it and ample opportunities for growth that is rapid and profitable are available.

The relevance of the Blue Ocean strategy is as follows: 

– It creates an uncontested market place

– It focuses on the customers and not on the competition. Thus, the competition is irrelevant under the Blue Ocean strategy.

– It breaks the value and cost break-off

– It conceives new ideas and distinguishes enormous, untapped markets.

– It creates and captures new demand

– It challenges the business’ Conditions & Paradigms and aligns the whole system of a Company’s activities in pursuit of low cost and differentiation.

Despite all the above facts, there is a number of challenges that are faced by the businesses while implementing the Blue Ocean Strategy:

  1. Organizational Culture Challenges: Organizational Culture encompasses values, and beliefs shared by the employees of the organization. It is noticed that when employees are used to a specific method for doing recognizable things, new thoughts or strategies can be viewed as a threat to the current culture and will be resisted. Other reasons can be lack of clear directions, lack of ownership and clear progression as these procedures wind up being left to a couple of units (Kim and Mauborgne, 2014).
  2. Organizational Structure Challenges: The fundamental challenge presented by the structure in the usage of blue ocean strategy is resource allocation.
  3. Limited Resources: Lack of resources and capacity and Lack of knowledge in sourcing and building capacity is one of the challenges in the implementation of blue ocean strategy since this is a new era. Procuring the right skill sets is another challenge in looking to construct the capacity to actualize the blue ocean strategy.
  4. Conflict of interest: The irreconcilable circumstance can be seen as a challenge. Where assets/resources are shared by a few people or units with different objectives or goals, this is very prevalent in the said situation. Since the blue ocean isn’t known well, more assets/resources are directed towards the red ocean. The focus is normally aimed at servicing existing customers in the known markets and everything else comes next. Further, the management has not always been clear of what assets/resources support what strategy.
  5. Leadership & Management: While implementing blue ocean strategies, fear of failure caused by inherent risk averseness, lack of clarity of the strategy, a feeling of encroachment in territories can be seen and resisted by the management. Bureaucracy and rigidity and inability to grasp new thoughts and innovational technology among the leadership and top management is a big challenge in the implementation of blue ocean strategies. Lack of proper coordination and poor sharing of assets/resources and responsibilities by and among the leaders and the management is also one of the reasons for facing by the businesses (Aithal, 2016). Lack of comprehension and enunciation of the company’s vision and mission and how the blue ocean strategies fit into the entire key arrangement can be seen as a challenge.
  6. Employees of the Company: While implementing blue ocean strategies, resistance from employees is very obvious & natural. Reason being, the territories which are not ventured into beforehand by the employees how they would approach it. It always takes time to fully acknowledge and possess any new products, processes or markets. Further, the employees prefer not to take responsibility for the failures of any experiments. This brings in disagreement and disengagement from the employees for implementation of the blue ocean strategies. Slow and poor implementation of the blue ocean strategies can be resultant into the failure of the same. Sometimes, due to lack of knowledge and understanding, the employees can plot to sabotage a strategy and this may result in the losses in wasted investments.
  7. Challenges brought about by the Customers: Resistance from customers while implementing blue ocean strategies have also been observed. Few of customers have resisted because of the risks they see in these spaces while others do so because of lack of knowledge and understanding of the new business model or the products which they possibly become acquainted with about when they are propelled (Alam and Islam, 2017). Resistance from customers is said to be a challenge because of the slow adoption of products or sometimes, total rejection.
  8. Monitoring and Evaluation Systems of the Company: There can be instances where blue ocean strategy projects may take a longer period of time than anticipated in implementation. This is mainly due to lack of complete ownership by the stakeholders, lack of complete comprehension by all parties involved of the expected outcomes, lack of support, limited resources, lack of coordination and support among the leadership, clashes with red ocean strategy initiatives etc. Sometimes, because of budget constraints radiating from incorrect venture conceptualization may lead to incorrect budget estimates resultant of the blue ocean strategy projects stall.
  9. Effects of Red Ocean strategies implementation: The irreconcilable situation between Red Ocean strategies and Blue Ocean strategies causing a lack of focus and delays is also considered as a challenge. Most of the policies procedures and rules are formed with customary business in mind and do not cover blue ocean strategies. The Red Ocean strategies are more charted than the blue ocean and the focus is mainly on the known as opposed to the obscure. The Red Ocean strategies would always win, in the circumstances, where there are scarce assets/resources available and the strategies need to compete for them.

To overcome and implement the Blue Ocean strategies, it is required to shift the direction of the company into a different direction, have clarity about the new destination, corporate culture, value and cost break-off it requires and the challenges that would be faced off. Besides all of this, everyone in the Company has to understand the new set of customers and the new rules implicit in the new strategy. This is required for meeting with the challenges that persist in the organization and help in taking the correcting actions which could help in resolving the same. The challenges are assessed by the organization so that it would make the organization to face any losses.  This is required for maintaining the culture of the organization and makes the production of products and services as per the requirement. The growth and development of the organization can take place with the implementation of practices which will help in reducing the impact of the challenges and its negative impact.

In the opinion of (Winder and Heron, 2017), challenges are the key to the success of the organization and grabbing the opportunity in the market. This is essential for attaining the goals in the market and leading the organization to have a large number of customers. Blue Ocean makes the development of innovative products and services which are helpful for driving changes in the market and having customers in it. These challenges make the organization to develop the strategies which would help meeting with risks and make the organization to have its stake. The challenge, which affects the organization the most is changing preferences and choices of the customers. This makes the blue ocean organization to innovate new products and services, which could meet with their expectations. The estimation of demands of the customers and having a search for the new market helps the organization to generate its stake and grab the position in the market. In addition to this (Aithal,2016), another challenge can be procured by the management of resources in an effective manner with the allocation of the resources in an optimal manner.  The resources are required to be used in an effective manner for the delivery of products and services as per the expectations of the customers. This helps in meeting with the requirement and needs of the customers and makes the organization to have its huge stake. This can be achieved with the allocation of work and resources in an optimal manner so that satisfaction could be provided to them. The allocation of resources at the right place on right time allows the organization to earn profits. Blue Ocean makes the organization to have skilled employees which makes it earn profits and innovate the products as per the requirement.

Research Methodology

The research methodology is used in the research for the identification of responses and collecting data for the usage of blue ocean strategy in the business. The data is collected for evaluating the need for the blue ocean strategy and its impact on business growth. As per the study of  (Creswell, 2013), it is derived that a research methodology is a systematic approach or plan that is used in the research for extracting the data which is relevant and required. This makes the usage of various methods which help in evaluating the data and responses that have been taken from the respondents with the usage of several methods. This area covers the exploration system for this investigation to recognize and choose the suitable research instruments and strategies to break down the examination theme and address the exploration questions proficiently and viably. The focal point of the scientist is to choose how the exploration information can be gathered, examined and translated in the examination procedure. The accompanying segment draws consideration towards directing the examination procedure in an orderly manner by the determination of the fit research reasoning, inquire about methodology, look into plan and techniques, information gathering strategy, inspecting strategies, information investigation technique and featuring the exploration morals. The analyst has considered the model of ‘inquire about onion’ which exhibits a well-ordered procedure to present, characterize and select the diverse research systems for this examination to meet the point and destinations.

The research consists of primary and secondary research methods which are mostly used in the research for having the data and information. Primary research method makes the evaluation of data that has been directly taken or gather from the respondents. The primary data is taken a first hand from the people. The data is taken with the consent of the people as this requires them to provide with their personal information for the authenticity of data. On the other hand, secondary data is taken from already published articles or journals. The data is already published by the researchers and that is used in the study for having information regarding the growth that took place with the use of blue ocean strategy in the companies. This also makes the evaluation of challenges that have been faced by the business with the implementation or usage of blue ocean strategy in it. During the research, the primary research is used so that a huge amount of information could be used in the research. This will help in getting the best for the research and having a number of opinions for generalising the usage of blue ocean strategy. This also makes the researcher have information that is directly extracted from the respondents.

Research philosophy

The research philology as per the opinion of  (Creswell & Creswell, 2017) it is a phenomenon that is used for gathering, analysing and using the information or data in the research. This evaluates the research background, the knowledge of the research and its nature. The basic research methods of reasoning are positivism, interpretivism, realism, idealism, and pragmatism. The positivism and interpretivism reasoning falls in the classification of epistemology where the learning acknowledgement and advancement is through an elective strategy to touch base at results while authenticity and optimism fall into the class of metaphysics where the philosophical qualities stress on understanding the information presence and its improvement as a mind item. Positivism explores reasoning spotlights on logical research strategies that are essential to survey the exploration theme. Interpretivism looks into theory is utilized to decide the abstract truth of the exploration subject. This way of thinking contends that it isn’t adequate to utilize logical techniques to build up a comprehension of the examination subject. Simultaneously, authenticity inquire about the way of thinking is reasonable for understanding the truth of the social wonder, yet it isn’t adequate for the embraced research.

The major philosophies that have been taken into consideration are positivism and interpretivism. Under the positivism approach, the high structured methodology is used which facilitates and provides hypothesis on the basis of the data collected for the research. This is based on the observation and assumption that has been made during the research in respect of the respondents. On the other hand, interpretivism philosophy makes the usage of various factors for the interpretation of data that could help in extracting and depicting the information in an advanced manner. This makes its focus on the people not on the objectives as the response needs to be taken from the people not from the objects. In the research, interpretivism philosophy has been used as the evaluation and extraction of data is made from the human factors by generating a response from them. The responses from the people are reliable other than the observation or hypothesis created from the social factors (Almalki, 2016).

Research approach

The examination approach gives the specialist grounds to choose plan and methodology on the sourcing and accumulation of research information according to necessity and furthermore choose the particular strategy for investigation for important understanding. It gave the analyst to pick between the subjective and quantitative information accumulation strategy and between deductive or inductive thinking methods for information examination; subsequently, the two major research methodologies are deductive or inductive. The inductive methodology is a down to top methodology as it thinks about explicit perception to tremendous speculation and spotlights on increasing high hypothetical comprehension. For this exploration, the scientist has utilized strategies for explicit perceptions thinking about the idea of the examination with no compelling reason to take a shot at the current speculations. The analyst has received the methodology of inductive thinking as it likewise identified with the interpretivism reasoning (Bernard, 2017). The inductive methodology does not evaluate the hypothesis rationale rather the specialist have built up the reason on self-premise considering the issues of the examination and research targets for the advancement of possessing speculations. This approach will find out the data that could help in identifying the growth perspective of business with the implementation of Blue ocean strategy in the organisation. The qualitative data regarding the challenges that have been faced by uncovering the market will also take place.

Research Strategy

The exploration strategy in an examination procedure is useful to build up a relationship with the exploration hypothesis with the examination information. Characterizing the exploration methodology has been basic for the scientist to discover the response to each examination question in the best and effective way. In light of the examination approach and leave structure, the specialist has embraced the subjective procedure with the utilization of meeting to satisfy the information required to address the exploration questions viably towards issues, criticalness, and advancement of group subsidizing as an account source (Brannen, 2017). Along these lines, it very well may be expressed that meeting technique has been the basic research procedure which includes a customized way to deal with some degree towards the examination. Meeting based research is regularly perceived as a subjective character. What’s more, the meeting technique for information accumulation is refreshing for its significance in acquiring definite reactions as data about human recognitions, sentiments, supposition and inspirations. It is additionally considered as a functioning methodology as it enables the researcher to pose more inquiries to get more subtleties and result in high reaction rate (Brannen, 2017).

Data collection methods

A number of methods could be used in the research for the evaluation of data and collection of information from numerous sources. The basic needs for the collection of data are that it could have authentic data and information that could be presented in the research. It is fundamental to utilize the compelling information accumulation techniques that could be useful to assemble the required information and data and give the best results after the fulfilment of the examination (Palinkas, et. al., 2015). Without the right information, the analyst can’t be able to give solid and legitimate research results. There ought to be a noteworthy focal point of the analyst on the fitting information accumulation techniques that could be compelling to assemble the required information and data appropriately and accomplish the characterized research goals. The two fundamental techniques for information accumulation are essential and optional strategies. Essential information is the new information or first-hand information that is gathered the first run through by any analyst (McCusker and Gunaydin 2015). This information is bona fide and legitimate because of no reliance on the past inquires about that could be one-sided in view of the distinctions in the past specialists. Simultaneously, this data collection method gives a piece of enormous information in less time span that change with the utilization of a specific essential primary research technique.

Primary research methods make the collection of data directly from the respondents which are based on the time, nature, cost and availability. This makes the collection and grabbing of information that is fresh by conducting and having a communication with the people. This makes the usage of a semi-structured method in which the opinions and views of the people regarding the blue ocean strategy and its impact on the business are determined. This makes the researcher to collect the responses from the people regarding the business uses the blue ocean strategy within the defined framework (Gray, 2013). This makes the researcher know about the usage of blue ocean strategy and its impact that has been made on several organisations. The primary research method is more preferable as compared to the secondary research methods as this makes the data to be collected directly from the people. On the other hand, Secondary research methods are used to assess the data that has been collected by previous authors, researchers and scholars on a similar context. This makes the data to be collected from reference books, journals, articles etc. to develop the literature review. All the sources are required to be relatable to the blue ocean strategy and its influence on the growth aspects of the business. Thus, it can be evaluated the primary research method is more reliable and accurate for the research as this directly answers to the research questions and objectives (Ding, et. al., 2014). This method is more relatable to the research as objectives are recommendable addressed which also matches with the ability and skills of the researcher.

Qualitative research technique makes the use of sentiments, thoughts, qualities and comprehension of the general population from whom the reactions have been produced. This utilizes the knowledge that has been gathered by having a dialogue with the issue. This causes them to build up speculation for the utilization of potential quantitative research. This aide in revealing the patterns that are conveyed in idea and sentiments which make it jump further into the issue (Hammersley, 2017). This utilizes subjective information that fluctuates from unstructured and semi-organized systems. This makes the use of techniques like individual meetings, perceptions, centre gatherings and so forth. It additionally conveyed the utilization of little size gathering as the respondents are of a little size which gives data or information. The quantitative research strategy is utilized for evaluating and tackling the issues with the improvement and utilization of numerical information (Guetterman, et. al., 2017). This makes the assessment of the issue by assessing the issues, practices, sentiments and other characterized factors. This aids in summing up the populace with the utilization of an example populace. This makes the use of quantitative research technique which incorporates eye to eye talk with, phone meets, an online survey, deliberate perception and so forth. The technique is more organized than subjective research and has been utilized at an abnormal state by the analyst.

The research makes the utilization of quantitative strategy that makes the assessment of aspects and gathers information in the numerical structure. This infers the outcome in the association and utilizes information which helps in separating the data in a powerful way. The quantitative strategy is progressively genuine in nature as this makes the introduction of data to be made in a numerical and measurable structure which is anything but difficult to be assessed. The information is gathered from the surveys that convey a lot of questions which needs to be answered by the respondents directly (Lampard and Pole, 2015). The surveys are sent to the workers of the association which gives their reaction towards the components that help in improving the activity fulfilment level. This causes the association to accomplish direct reaction from workers and make the assessment of the fulfilment level that has been achieved with the implementation of blue ocean strategy in the organisation. This utilizes the sampling technique which utilizes the sample size of the populace from whom the information is determined. The data is collected from a number of employees working in diversified companies so that they could give emphasis on the usage of blue ocean strategy in growing companies (Edmond and Kennedy, 2016). The example size mulled over is 50 individuals out of which reactions of 10 individuals will be examinations and assessed. This makes the evaluation of the blue ocean strategy that has been used in a number of an organisation for its growth. This also identifies the challenges that have been discovered with the use of blue ocean strategy in the business.

Summary

The chapter depicts the usage of research methodology for collecting and deriving the data for evaluating the needs of blue ocean strategy in the business. This makes the evaluation for the growth that took place with the use of blue ocean strategy. The primary research method has been used in the research for collecting the data directly from the respondents. This is used as this makes the data to be available in a genuine manner. Sampling technique has made so that small proportion could be used from a large population. This makes the development of questionnaires that are provided to the people so that they could help in addressing the research question and objectives.

Limitation of the research

The research methodology does not make the usage of the secondary research method as it is more focused on using the primary research methods. This makes it gather information directly from the respondents which are time-consuming and moreover the résistance of the respondents makes it have irrelevant information. The permission from the organisations for conducting the survey is also required which is not easy to acquire as this makes the organisation make losing of their strategy or information. The rigidity of the respondents makes the researcher use more time for extracting data with the use of primary research method. On the other hand, secondary research method makes the extraction of data which has already been collected and used. This makes the research to have more information as compared to the primary research method. The used methodology in the research does not cover the large area as getting the responses from a large population is not easy. This makes the research to have irrelevant and unauthentic information which is interpreted. The cost of carrying the research through primary research method is also high as this carry the cost of conducting a survey, acquiring consent form etc. The primary research method is costlier as compared to any other method in the research.

Critical Analysis

  1. Gender
Respondents Percentage
Male 60%
Female 40%

 

BDM144 MSC International Business Dissertation

 

 

 

 

 

 

From the above graph, it shows the number of people who have participated in the survey and given their responses. This depicts that 60% of people who have taken participation in the survey for analyzing the role of blue ocean strategy for the growth of the business. In addition to this, 40% of people are females who willingly participate in the survey and give their response actively in the research. They both give their active participation in giving their answers and make the study to be accomplished.

  1. Age
Respondents Percentage
·       Below 20 30%
·       20-25 40%
·       25-50 20%
·       Above 50 10%

BDM144 MSC International Business Dissertation figure 1

The above presentation of graph clarifies the different age group who has been selected for giving the response to the question. From the total population, 30% of the people are below the age of 20 who have given their opinions. 40% of the people are between the age of 20-25 and 20% of people are between the ages of 25-50. The rest 10% of people are above 50 who have participated in the survey and given their responses.

  1. Do you find that blue ocean strategy helps in attaining the growth of the business?
Respondents Percentage
·       Yes 80%
·       No 20%

BDM144 MSC International Business Dissertation figure 2

The above analyses provide a description of the effect of the blue ocean strategy on the growth of the business. 80% of people say that blue ocean strategy helps the business to grow at a high scale while 20% are against the usage of blue ocean strategy. They say the blue ocean strategy does not help in the growth of the business. Hence it can be said that blue ocean strategy makes the business to grow at high scale.

  1. Do you agree that blue ocean strategy is convenient for producing new products and services in the market?
Respondents Percentage
·       Yes 65%
·       No 35%

BDM144 MSC International Business Dissertation figure 3

The above graph provides the depiction of responses that have been collected in respect of identifying that blue ocean strategy is convenient for producing new products and services in the market. 65% people say that blue ocean strategy is convenient for producing new products and services in the market while 35% says that it is not compatible to be used in the organization for the production of new products and services.

  1. In your opinion, do you find that blue ocean strategy has given a boom to the business and its scale for growth?
Respondents Percentage
·       Yes 75%
·       No 25%

BDM144 MSC International Business Dissertation figure 4

From the above graph, it is estimated that 75% says that blue ocean strategy has given a boom to the business and it scales for growth as this is required in the business. While 25% says that blue ocean strategy does not support that business or its scale for the growth and development which is required by the business.

  1. Do you agree that the adoption of blue strategy makes the business to face various risks?
Respondents Percentage
·       Yes 40%
·       No 60%

BDM144 MSC International Business Dissertation figure 5

The above-shown graph finds out the responses regarding the adoption of blue strategy which makes the business to face various risks. 40% of people say that the embracement of blue strategy makes the business to face various risks. On the other hand, 60% of people say that the organization does not dace with any issues and problems while developing new products and services as well as adopting a blue ocean strategy.

  1. What are the reasons for adopting the blue ocean strategy in the business?
Respondents Percentage
·       Capturing the market 15%
·       Innovate new products 30%
·       Meeting with competition 15%
·       Earning profits 40%

BDM144 MSC International Business Dissertation figure 6

The above graph has demonstrated various reasons that make the business to adopt the blue ocean strategy in the business. 15% people say that the main reason for using the blue ocean strategy is to capture the market while 30% people say that innovating new products in the market has been the vital reason for the use of blue ocean strategy. 15% of people consider the competitive advantage as the reason while 40% says that profitability is the reason for using blue ocean strategy in the business.

  1. Do you think that blue ocean strategy could attain stake in the market?
Respondents Percentage
·       Yes 70%
·       No 30%

BDM144 MSC International Business Dissertation figure 7

The above graph clearly depicts that usage of blue ocean strategy makes the business to generate its stake in the market. 70% of people say that blue ocean strategy makes the organization to build its stake in the market, 30% are against the statement. They have an opinion that it does not support the growth and generating stake in the business.

  1. Do you suppose that blue ocean strategy adopted in the business make it meet with the competition in the market?
Respondents Percentage
·       Yes 70%
·       No 30%

BDM144 MSC International Business Dissertation figure 8

From the above graph, it can be concluded that blue ocean strategy adopted in the business make it meet with the competition in the market. This has been proved with the response that has been made by the people as 70% of people says that blue ocean strategy helps the business make to meet with the competition in the market. The remaining 30% of people say that blue ocean strategy adopted in the business does not make it meet with the competition in the market.

  1. In your opinion, risks could be mitigated with the adoption of a blue ocean strategy in the organization?
Respondents Percentage
·       Yes 75%
·       No 25%

BDM144 MSC International Business Dissertation figure 9

The above graph presents those responses that have been made for having their opinion regarding the risks that could be mitigated with the adoption of blue ocean strategy in the organization.  75% of people say that risks could be mitigated with the adoption of blue ocean strategy in the organization while 25% says that blue ocean strategy does not cooperate in mitigating the risks. Hence, it can be said that blue ocean strategy makes the organization to meet with risks.

 

 

  1. Does blue ocean strategy makes the business to attain monopoly in the market.
Respondents Percentage
·       Agree 35%
·       Disagree 15%
·       Strongly Agree 35%
·       Strongly Disagree 15%

BDM144 MSC International Business Dissertation figure 10

The above graph presents the response of the people regarding the monopoly of the organization which is attained with the effective use of blue ocean strategy. Around 35% people strongly agree and 35% people agree with this that blue ocean strategy makes the business to attain monopoly in the market. On the other hand, 15% of the people say that it does not help the business to attain monopoly in the market by strongly disagree with this. Moreover, 15% people make its consideration by disagreeing with the statement that business could not attain monopoly in the market with the use of blue ocean strategy.

  1. Do you think, Blue ocean strategy can make the discovery of uncovered or undiscovered market areas?
Respondents Percentage
·       Agree 45%
·       Disagree 20%
·       Strongly Agree 25%
·       Strongly Disagree 10%

BDM144 MSC International Business Dissertation figure 11

From the above graph, it is estimated that Blue ocean strategy can make the discovery of uncovered or undiscovered market areas as 45% people agree with the statement. Moreover, 25% people strongly agree with the statement that blue ocean strategy helps in discovering the uncovered or undiscovered market areas. On the other hand 20% of people say that Blue ocean strategy does not make the discovery of uncovered or undiscovered market areas. In addition to this, 10% people strongly disagree with the same. Hence, it is observed that Blue ocean strategy can make the discovery of uncovered or undiscovered market areas.

  1. Does the blue ocean strategy make the organization to grab the market opportunities?
Respondents Percentage
·       Yes 70%
·       No 30%

BDM144 MSC International Business Dissertation figure 12

From the graph, it can be demonstrated that market opportunities could be attained by the business with the use of blue ocean strategy in it. 70% of the people say that blue ocean strategy could help in grabbing the marketing opportunities in the business. While, 30% people deny with the statement that blue ocean strategy does not make the organization to grab the market opportunities.

  1. In your context, does blue ocean strategy increases the demands of the customers in the market??
Respondents Percentage
·       Agree 50%
·       Disagree 20%
·       Strongly Agree 20%
·       Strongly Disagree 10%

BDM144 MSC International Business Dissertation figure 13

From the graph, it is evaluated that 50% people says that blue ocean strategy increases the demands of the customers in the market. This also identifies that 20% people disagree with the same by having their contribution and denying for the same. They say that blue ocean strategy does not affect the demands of the customers in the market. 20% strongly agree and 10% strongly disagree with the same.

  1. Does blue ocean strategy helps in eliminating cost and wastage of resources?
Respondents Percentage
·       Yes 85%
·       No 15%

BDM144 MSC International Business Dissertation figure 14

The above graph denotes that 85% people consider that blue ocean strategy helps in eliminating the cost and wastage of resources in the company. While 15% says that blue ocean strategy does not help in eliminating cost and wastage of resources. Hence, it can be proved that blue ocean strategy helps in eliminating cost and wastage of resources.

Discussion

From the analysis, this has been identified that usage of blue ocean strategy has impacted at a huge level to the people, market and organizations. This makes the evaluation of needs that are considered by the organization for attaining huge growth and sustainability with the adoption of blue ocean strategy in the system. The questionnaire is prepared and circulated among the people so that it could help in identifying the responses of the people with respect to blue ocean strategy. This makes people take active participation in the survey to help the researcher for having required information. The survey is conducted among a large number of people in which 60% of the people are male while 40% are females. They have taken participation in the survey and communicated their responses through the questionnaire. Each and every candidate is provided with consent form so that they can assure that their personal information will not be used in an unethical manner and would not affect their privacy or integrity.

Moreover, different age people have different ideas and opinions due to the difference and experiences they attained during their life. Under this survey, 30% of the people are below of age of 20 who wished to participate in the survey and made their view about the blue ocean strategy. The role of blue ocean strategy has not been experienced by this age group but have knowledge for the same. Other than this, 40% of the people are between the ages of 20-25 who thinks that blue ocean strategy has its stake in the market. They have given their responses to the blue ocean strategy and its impact on the growth of the business. 20% of people are between the age of 25-50 and rest of the people are above it who have shared their experiences and views by filling up the survey and giving up their responses for the relations the blue ocean strategies have with business.

The analysis also states that blue ocean strategy help in growth of the business and majority of the people are in favor of the use of blue ocean strategy in the business. This makes the organization to discover various areas in which it could make its production and attract large number of people. This makes the business to produce those products and services which could help in attracting a large number of people. This also makes the organization to have its existence as per the opinion of the people (Srinivasan, 2018). It has also given focus on the impact of blue ocean strategy which is convenient for the production of products and services in the market. This is required for making the customers know about it easily as this uncovers those areas which have not been covered by other organizations. So, it has been clearly stated that blue ocean strategy is convenient for the production of new products and services in the market.

The blue ocean strategy has been used at a great level in the organization so that it could have large number of customers in the organization and can influence people at high level. The growth of the organization depends on the number of customers and participants it carries in the business. This makes it grab its position in the market and have large number of people involved it. This ensures and proves that intake of blue ocean strategy in the organization makes the business to grow at high level and it has given boom to the growth of business. This has ensured that the organization carry huge interest in discovering those areas where it could have large number of people. Around 75% in the population consider blue ocean strategy as the best source for having boom in the growth of the organization. This makes the organization have stake in the business and lead to satisfying the customers. This makes the promotion and production of products at those places where marketing practices and existence of the organization is low (Qudah and Hashem, 2018). People aspire to get indulge into the business easily with the development of its strategies which makes it grab the position in the market.

The analysis also makes assurance with the risks that take place with the adoption of blue ocean strategy in the business. This makes the business to consider those risks while developing and implementing the blue ocean strategy so that risks would not affect the growth of sustainability of the company. The risks make cause business to face numerous problems and make the organization to face losses. The production of new products and services and capturing a new market makes the organization to face the number of issues and problems which needs to be estimated and considered in advance. These risks make the organization to have practices which could help reducing or minimizing its impact and lead to achieve the targets of the company (Aithal, 2016). The blue ocean strategy needs to be adopted after the evaluation of the market so that it could be implemented in the business in an effective manner. The adoption and implementation of technology will reduce and diminish the impact of risks that could take place in the business. This affects the growth, survival and profitability of the organization.

In addition to this, various reasons for the use of blue ocean strategy have also been identified so that it could help in grabbing the position in the market. The most preferable decision for the business to opt blue ocean strategy is earning profits in the organisation. This is a major motive of the organization so that it could sustain in the environment and have great number of customers. The innovation of new products and services in the market makes the business to increase the demands of the customers so that it could have huge profits in the firm. This makes the business to cover the unexplored areas where it could earn high profits and retain the customers (Agnihotri, 2016).  While many of the people say that innovation of new products and services in the market has been the reason for the organization for the adoption of blue ocean strategy in the system. The products and services need to be as per the affordability and expectation of the customers so that satisfaction could be provided to them. This also affects the services which have been received by the customers from the organization as this makes the organization to create its image in the market. The development of the association relies upon the number of clients and members it conveys in the business. This makes it get its situation in the market and have huge number of individuals included it. This guarantees and demonstrates that admission of blue sea system in the association makes the business to develop at abnormal state and it has offered blast to the development of business (Kim and Mauborgne, 2014). This has guaranteed that the association conveys tremendous enthusiasm for finding those zones where it could have huge number of individuals.

As per the opinion of respondents, it is carried in the research that capturing of the market has been the reason for the adoption of blue ocean strategy in the organization. This makes them have those products and services in the business which could help in having large number of customers. The growth of the organization depends on the customers and the employees who have made their utmost efforts (Chan Kim and Mauborgne, 2005). Innovation in the products has been made to have large number of customers in the organization as customers prefer new products and services which could make them have gratification. Another significant reason for the adoption of blue ocean strategy is that it makes the organization grasp the competition in the market. This makes the organization have large number of customers and make the organization to meet with rivals. The increasing competition in the market makes the organization to suffer from loss as the shift in demands of the customers take place. This affects the surveillance of the organization and leads to diminishing its goodwill in the market. The embracement of blue ocean strategy makes the organization to carry huge number of people in it and make it meet with competition (Mi, 2015). The discovering of new market with the adoption of new technology in the organization affects the competition in the market.

The competition can be met in the market by the business with the adoption of blue ocean strategy in it and can help in attaining its stake. More than 3/4th of the population is in favour of a blue ocean strategy that it should be embraced in the organization for generating its stake and grabbing the position in the market. This makes the organization to have those areas where there is less competition and make it have monopoly in the market. This also makes the business to grasp the new customers in it by providing them quality products and services. The growth of the organization can take place with attainment of its stake in the market. This makes the organization to generate the products and services at its own price which affects the people and customers. This also makes the business to grab the opportunities in the market as different practices are involved in the market (Mauborgne and Kim, 2005). This makes the organization to sustain in the market and adopt the changes that take place in the market. The growth of the organization could be delivered to the customers by having fewer prices for the products and services.

The analysis also gives its emphasis on the increasing demands of the people that took over in the organization with the customers. The increasing use of blue ocean strategy makes the business to grow a rapid speed as it makes the business to have its stake at those places where the existence of the other business is minimal. Thus, it helps in business to have a number of opportunities and make it indulge in fast-growing business. This makes the business to face high demands of the customers which need to be met on time so that it could have effective implications in the business. This makes the business to earn high profits and deliver success to the companies.  The marketing opportunities could also be attained with the usage of blue ocean strategy and effective utilization of resources also takes place in it. The adoption of blue ocean strategy makes the organization to make the usage of resources in an effective manner. This will make the reduction of cost and make the business to use of financial resources in an optimal manner (Kim,  2005). This helps in having its stake in the market and grabs the position in the market. The effective utilization of resources in the business makes the organization to have financial stability and attain adequate amount of funds in the business.

Lastly, it can be said from the above analysis and evaluation of the perception of the people that blue ocean strategy is effective in nature if it is used viably in the business. This makes the business to have steady and optimal growth in the market with derivation of best results in it. This makes them have those items and administrations in the business which could help in having huge number of clients. The development of the association relies upon the clients and the representatives who have endeavored their most extreme endeavors. This makes the association have those territories where there is less challenge and make it have imposing business model in the market. This additionally makes the business to get a handle on the new clients in it by giving them quality items and administrations. The development of the association can occur with fulfillment of its stake in the market (Kim and Mauborgne, 2014). This makes the association create the items and administrations at its very own value which influences the individuals and clients. The blue ocean methodology should be embraced after the assessment of the market with the goal that it could be executed in the business in a viable way. The appropriation and usage of innovation will lessen and decrease the effect of dangers that could happen in the business. This influences the development, survival and benefit of the association.

Summary

From the above research, it has been evaluated that the suitable data has been grabbed from the respondents. This makes the data to be present in more authentic and viable form so that it could be used in answering to the research questions.  It very well may be abridged that to respond to the examination question in an effective way the advancement of the best possible structure of research technique has been helpful for the exploration procedure. So as to finish this exploration study, the specialist concerned the examination onion structure that helped the analyst to configuration inquire about approach and gather the information and data in a compelling way. In this examination study, the interpretivism theory is utilized by the scientist over positivist and authenticity explore ways of thinking that is useful for the exploration to explore the exploration issue with better understanding and learning. Additionally, the scientist has likewise utilized the inductive research approach in the exploration on the grounds that the inductive research approach permits the specialist initiate with observations to produce new premises for the territory under investigation. The utilization of interpretivism reasoning and inductive methodology has permitted the specialist include subjectivity for the improvement and the executives of information for the blue ocean strategy. This makes the evaluation of the data that has been derived with the use research strategy and research philosophy.

Simultaneously, the analyst additionally utilized both essential and optional information-gathering techniques. These techniques made the derivation of information in a systematised and optimal manner which is true to nature. It was understood that the utilization of survey technique was especially reasonable for this exploration as it enabled the analyst to increase point by point data to create premises residence rising new information identified with the examination theme for the blue ocean strategy and its growth took place in business with its usage. 10 members were chosen for the procedure of survey and information is likewise dissected by subjective coding strategy. The morals have additionally been given high contemplations in the exploration procedure for displaying the information and data in the survey procedure of the current writing and for the gathering of essential research information from the investigation respondents. The direct responses taken from the respondents are viable in nature and true to the information collected for the research questions.

More or less, it tends to be expressed that the section of research philosophy has had a basic influence in the examination procedure and further improvement of the following part by recognizable proof of accessible approach and research strategies and techniques which empowered the researcher to choose the most reasonable research strategies alongside their accumulation, investigation and understanding of information in precise and effective way. This makes the derivation of data and presentation of data in a concise manner so that it could be presented in an authentic manner. The interpretation of data has been made in the presentable manner which could easily be understood and evaluated.

Conclusion

From the above research, it has been identified that blue ocean strategies have an effortless impact on the growth and development of business. This engages the business to spread its business at a high level and grab multiple opportunities in the market. This depicts the significance of blue ocean strategy in the report, which is required in the organization for having sustainable growth and make the customers infatuated and influenced. Blue ocean strategy helps the business to discover and identify the new places where it can have effective production and sales in the market. This is required for making the customer satisfied and makes them retained in the firm. This makes the organization to opt the blue ocean strategy so that it could make the competition to be met in the market. This makes the production of those products and services in the market which makes it create the specific demand of the people. The demands of the people could be made in the blue clean strategy which makes it grab the opportunity in the market. This helps in satisfying the customers and leads to achieving the target goals and objectives. This leads to having adequate impression in mind of the customers and have those customers, who require innovative products and services in the market.

 Moreover, the research has also focused on the differences that have been undertaken in red ocean strategy and blue ocean strategy. This makes the organization to discover the changes that are required to be made in the business for having its stake in the market. The challenges are required to be met in the organization so that it could adopt the blue ocean strategy in the organization in an effective manner. The change that took place in the location helps in having increment in the demands of the customers and grabs the position in the firm. The effective shift of place and discovering the interest of people makes the increment in demand and grabbing the position in the market. Customers are in search of new products and services which get accomplished with the blue ocean organization. The discovery of new area and location helps in having large number of customers and increases the income of the company. Shifting in the location makes the customers raise their voice for the products and services which are needed by them. The location preference and change increase the demands of the customers and lead to attaining future propensity. This makes the organization to have required number of employees in the firm, who can assure that sustainability, could take place. Blue ocean strategy does not make the organization to drive into the competition like Red Ocean. The Red ocean carried huge competition due to availability of substitute products in the market. Thus, blue ocean strategy makes the organization to have new market with the development and innovation of products and services in the market. The role of blue ocean strategy in the business growth and the challenges it discovers with the use of strategy has been discovered in the study.

The impact of blue ocean strategy and its influence over the business has been evaluated with the responses that have been taken from the customers. The research has made the usage of methodology such as qualitative and quantitative which helps in evaluating the attitude, opinions, beliefs and values of respondents. Qualitative data are in unstructured form, which is not easy to understand. On the other hand, quantitative data is collected with the usage of questionnaire methods which help in generating the responses which are primary in nature. A primary research method has been used in the research so that direct responses could be derived from the study and makes the research to have valid and authenticate data. The questionnaire is distributed to the people so that they could give their responses. This helped the research to have authentic data in the research with respect to the blue ocean strategy. The discussion has been made in the research for the data, which has been collected from the respondents so that it could be easily understood and accommodated in the research. Moreover, the objectives are met and the research questions are answered in the research with the use of correct methodology and having valid information. In future, the time allocation for the research needs to be made firstly so that it could be completed on time with all the information and data. This will also help in interacting the people and covering wide areas so that information could be grabbed more easily, which is required for the research.

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