Blue Ocean versus Competitive Strategy: Theory and Evidence
Blue ocean strategy seeks to turn strategic management on its head by replacing ‘competitive advantage’ with ‘value innovation’ as the primary goal where firms must create consumer demand and exploit untapped markets. Empirical analysis has been focused on case study evidence and so lacks generality to resolve the debate. We provide a methodological synthesis of the theories enabling us to bring statistical evidence to the debate. Our analysis finds that blue ocean and competitive strategies overlap and managers do not face a discrete either/or decision between each strategy. Our evidence for the Dutch retail industry indicates that blue ocean strategy has prevailed as a dominant long term viable strategy.
|Keywords||blue ocean strategy, competitive advantage, entrepreneurial discovery, innovation, retailing|
|JEL||Entrepreneurship (jel L26), Business Administration and Business Economics; Marketing; Accounting (jel M), New Firms; Startups (jel M13), Business Economics (jel M21), Management of Technological Innovation and R&D (jel O32)|
|Publisher||Erasmus Research Institute of Management (ERIM)|
Burke, A.E, van Stel, A.J, & Thurik, A.R. (2009). Blue Ocean versus Competitive Strategy: Theory and Evidence (No. ERS-2009-030-ORG). ERIM report series research in management Erasmus Research Institute of Management. Erasmus Research Institute of Management (ERIM). Retrieved from http://hdl.handle.net/1765/16037