So where do we go with this thought that some of today's tools may not suffice as the market moves faster and companies need these dynamic, flexible analytical tools to update their strategies?
Where Is the Field of Strategy?
Disruptive Innovation? Four actions framework? Factor conditions? Demand conditions? Preemptive strategies? Five Forces? Ten Schools? Are any of these concepts/theories new and innovative? Do they pave the path toward the future of corporate and competitive strategizing? The answer is probably yes...and no.
It is difficult to find a brand new strategizing tool or model or school that is not just a rehashed version of our current standard, and quite effective, methods to analyze strategies. One innovative strategy to arise out of an existing concept is "Blue Ocean."
Though not new as a theory, the strategy proposed by Kim and Mauborgne in Blue Ocean Strategy urges companies to stop swimming in the "red" ocean which is filled with competition, and expand into relatively competitor-free markets of the blue ocean.
The blue ocean, they say, is filled only with untapped market space and opportunity for highly profitable growth. (Kim & Mauborgne, 2005) but then one might ask, why haven't all those intelligent CEOs fighting tooth and nail in the red ocean with all that competition swimmimg rapidly and in large schools over to the blue ocean?
Part of the reason, according to the authors, traces back to the foundation of business strategy where competitors compete to protect and enlarge their share of the market. This was exasperated by the rise of the Japanese in the 1970s and 1980s. Customers were deserting Western companies in droves, so the center of strategic thinking gravitated further towards the competition. A slew of competition-based strategies, which are very much in play today, emerged arguing that competition is at the core of the success and failure of firms, and that competition determines the appropriateness of a firm's activities that can contribute to its performance.
The result has been a fairly good understanding of how to compete skillfully in red waters. Yet, although some discussions around...
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