Dear Monica S Spychala

From my point of view I encourage you to apply these strategies as they are considered effective with the high global competition and few researchers who researched the Implementation of these strategies. where many companies have become specialized in services and goods that do not exist to be at the top (blue oceans) and many companies are now reducing the profit for the ability to compete in the bloody market to get to the top (Red Ocean)

good luck

From the marketing perspective, Blue Ocean Strategy is a method of creating business strategy of the enterprises based on the idea that every enterprise can achieve higher profit by creating new demand in non-competitive market which is also called blue ocean. The profit is much easier than the rivalry with the competition on existing markets. Marketing implication of blue ocean strategy that it is helpful in creating value and taking it to the next level by a game. changing approach to competition. the company can actualizes the Blue Ocean Strategy in opening up new markets instead of stagnating in the existing markets.

Blue ocean strategy in marketing can be applied through co-opetion instead of competition, and by value- co-creation. Also you may want to think about open innovation in this context.

The base idea of blue ocean is: go in a market where there is no competition. Create the market/ segment if needed.

That is what Elon Musk does. Tesla is a brilliant example of a blue ocean strategy. As is SpaceX.

As to my knowledge, scientists explain what is valuable by using newer ideas than the "blue ocean" now. In these newer concepts and empirical studies, the authors assume that the market is a network of interdependent activities of value formation, not just a space for activities. There is a call for abstracts about it: 15th Organization Studies Workshop. Organizing Sustainably: Actors, Institutions, and Practices, 20-23 May 2020, Chania, Greece. https://osofficer.wixsite.com/osworkshop

I have just sent my abstract there:

Organization as a repertoire of interactive practices. How does organization transform the practices of stakeholders by transforming its own practices first?

I have based my work on example of how AirBnB performed two transformations of the value formation practices.

Mirna. This is another discussion in which we present similar views :-)

PS

You can find suggestion that idea that business strategy is not enough to explain business success: A business model is more generic than a business strategy. Coupling strategy and business model analysis is needed to protect competitive

advantage resulting from new business model design.

in Teece DJ (2010) Business Models, Business Strategy and Innovation. Long Range Planning 43 (2010) 172-194

Then you can find suggestions that business model is not enough to explain business success: Such a definition of success requires business models to envisage continual rejuvenation of natural and other capitals by embedding the required activities into the business processes of value co-creation.

in newer literature: Upward A. and Jones P. (2016) An Ontology for Strongly Sustainable Business Models: Defining an Enterprise Framework Compatible With Natural and Social Science. Organization & Environment, Vol. 29(1) 97–123

You are absolutely right Mr Ryszard Kleczek !.

Dear Monica, Blue Ocean Strategy is relevant even today and continues to do so in future. The premise on which it is based looks at creating a product or service that makes competition irrelevant, at least for few years. Why I am limiting the period is that a good strategy is replicated very soon making the market 'Red Ocean ' sooner or later. You need to be evolving your interventions continuously to stay ahead of competition. See how IT is changing/ disrupting the market place. For example Uber, AirBnB, Food delivery Apps( in India Swiggy, Zomato Uber eats), Netflix were not in vogue few years back. But are now leaders in their respective fields. They have changed the way people travel, eat and watch movies at their convenience.These are some examples to prove the importance of adopting Blue Ocean Strategy. Or else may have to bleed to death.

Monica S Spychala Dr. Gopaldas Pawan Kumar

Concepts like Blue Ocean/Red Ocean, disruption etc., are "short hand"or re-incarnations of old, tried and tested, timeless and evergreen concepts. As an example, creating new markets, consumption occasions, new products or going for "non consumers" etc., is more profitable that going after market share.

Equally, if you use economic concepts like market structures; oligopolistic, monopolistic, duopoly, perfect competition etc., you also see parallels with "Blue Ocean/Red Ocean.

In summary, play in a different space and play differently, is the essence.

I would put it more precisely as play differently in the same space.

Often the good ideas for developing research come from the practitioner's world, however, the challenge is to find theoretical structures that support complex thoughts like this. It is a challenge but you can always.