NILESH WAGHELA Business Strategy
BLUE OCEAN STRATEGY
Why Blue Ocean Strategy Is Crucial in Modern Times The last few decades of the 20th century and the beginning of the 21st have witnessed rapid and dynamic shifts in the business environment. With technological advancement, growing populations and changes in consumer preferences, industries and organisations have had to adopt significant shifts in strategy.
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Blue ocean strategy, which calls for value innovation and looking beyond the traditional competitive landscape, is among those that have become useful for various reasons.
THE NEED FOR INNOVATIVE SOLUTIONS In industries such as finance, education, healthcare, energy and the environment, among many others, the call to rethink strategies has followed the rising demand for innovative services at lower costs. For organisations to remain relevant in the modern age, fundamental rethinking is required.
THE EASE OF GLOBAL BUSINESS Historically, the majority of global businesses came from Europe, the United States and Japan. However, new entrants from Asian countries such as China, India and Latin America have challenged how quick and easy it is to become a global player. Through the proliferation of the internet, any business with a website can tap into a global market. The growth of communication tools has made it easier to interact, and transactions can be facilitated from anywhere in the world via trusted e-wallet services.
Through the proliferation of the internet, any business with a website can tap into a global market.
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