The paper "Sustainability of the Blue Ocean Concept" is a perfect example of business coursework. In blue oceans, companies create a market space with greater demands to create more room for profit, growth and development. In reading oceans, industries and companies lack effective marketing strategies and therefore have to fight for the little chances available. Here the market is full to capacity and therefore there is no room for expansion. The blue oceans have more space and therefore there are more chances for innovativeness, creativity and other expansion strategies. A blue ocean can emerge from a red ocean at a point where a company goes ahead to give out extra services from the existing company.
According to Kabukin (2014), the blue oceans adopt strategies of adopting quality services and goods that are sustainable in nature. The only issue is the adoption of a high-quality market space and therefore competition as a major factor in any market space cannot be a hindering factor. These new market spaces are highly characterized by large profits. This is major because of the selling value of the new company or industry.
It is evident that these strategies have been admired by a variety of business groups, states and also at a personal level. Most researchers have evaluated the strategies on thinking big and the act of more creativity in the business arena to facilitate market across the world (McManners, 2014). Sustainability in Performance According to Siegemund (2008), the capacity or efficiency of any given system has to be maintained for several decades. In this case, the present systems have to be maintained so that they can be in a position to serve future generations in the same way and capacity.
At the same time, the system has to grow and develop in a manner that everyone gets satisfied. According to Mauborgne and Kim (2005), profits should be realized by individuals, government and even individuals. All the new industries and companies that have not existed should be in a position to sustain them without interfering with the environment, social setup and any other natural setting. In this case, the system is not supposed to deplete the natural resources, disrupt the economy or degrade the culture of any government.
Instead, benefits should be realized in terms of job creation, sustaining the economy of a nation and provision of quality services (Lainos, 2011). The Blue Ocean Concept According to Gin (2014), the blue ocean concept has been considered to have more advantages than disadvantages. This strategy has been highly adopted by various businesses, nations and individuals. In this case, new industries are created from the existing companies and industries. For instance, thirty industries can give rise to around one hundred and fifty new ones with the aim of diversifying on service provision.
The issue of competition does not arise when it comes to the creation of new markets. Competition is only experienced in the existing markets. Osterwalder and Pigneur (2009) point out that such industries do not lack some sense of innovativeness and quality. Profits, on the other hand, are very minimal due to the fact that there is much luxury within the management. According to Siegemund (2008), the existing systems are not sustainable in nature and therefore cannot offer quality services for quite some time.
Here the owners have to apply all strategies to win buyers and sellers. This makes competition order of the day in a move to create some profits. Existing market spaces do not apply any innovative and advanced strategies to aid growth and development. Therefore such industries are in the capacity of serving only the generation existing at that particular time (Gin, 2014).
Alhaddi, H. (2014). Blue Ocean Strategy and Sustainability for Strategic Management . Retrieved April 13, 2016, from 2014 3rd International Conference on Business, Management and Governance: http://www.ipedr.com/vol82/016-ICBMG2014-C00008.pdf
Fogel, S. D., 2016, Strategic Sustainability: A Natural Environmental Lens on Organizations and Management, Routledge Publishers, London.
Gin, O. K., 2014, Excellence and Sustainability: USM and the APEX journey. Volume 1: The Ahead (Penerbit USM), Volume 1, Penerbit USM, Pulau Pinang.
Kabukin, D. 2014,Reviewing the Blue Ocean Strategy. Retrieved April 13, 2016, from Management and Governance: http://essay.utwente.nl/65556/1/Kabukin%20Dmitrij_MA_Management%26Governance.pdf
Kim, C. W., & Renée, M. 2015. Key Points Of Blue Ocean Strategy. Retrieved April 11, 2016, from Blue Ocean Strategy: https://www.blueoceanstrategy.com
Lainos, I. 2011. Red Ocean vs Blue Ocean Strategies. Retrieved April 13, 2016, from University of Piraeus: http://dione.lib.unipi.gr/xmlui/bitstream/handle/unipi/4443/Lainos.pdf?sequence=2&isAllowed=y
Laszlo, C. & Zhexembayeva, 2011, Embedded Sustainability: The Next Big Competitive Advantage, Greenleaf Publishing, Sheffield city.
Kim, C. W. & Mauborgne, 2015, Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant, Harvard Business Review Press, Harvard.
Mauborgne, R., & Kim, W. C. 2005. How to Create Uncontested Market Space and Make the Competition Irrelevant. Retrieved April 13, 2016, from Blue Ocean Strategy: http://www.theclci.com/resources/blueoceanstrategy.pdf
Mauborgne, R., & Kim, W. C. 2004, October. Blue Ocean Strategy. Retrieved April 13, 2016, from Harvad Business Review: http://info.psu.edu.sa/psu/fnm/ymelhem/blue%20ocean%20str.v2.pdf
McManners, P., 2014, Corporate Strategy in the Age of Responsibility, Gower Publishing, Ltd., Surrey City, UK.
Pauli, A. G., 2010, The Blue Economy: 10 Years, 100 Innovations, 100 Million Jobs, Paradigm Publications, NEW York.
Osterwalder, A. & Pigneur Y., 2009, Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers, OSF Publishers, Peoria.
Porac J. & Rosa, J. A. , 1981, For discussions on how market boundaries are defined and how competitive rules of the game are set, see H.C. White, “Where Do Markets Come From?” American Journal of Sociology, 87: 517–547.
Randall, R. M. 2015. Value pioneering – how to discover your own ‘blue ocean’: interview with W. Chan Kim and Renée Mauborgne. Strategy & Leadership. Vol. 43 No. 2 2015, pp. 11-14
See, C. Kim and R. Mauborgne, 1997, Value Innovation: The Strategic Logic of High Growth,” Harvard Business Review, 75/1 (January/February 1997): 102–112
Siegemund, C., 2008, Blue Ocean Strategy for Small and Mid-sized Companies in Germany: Development of a Consulting Approach, Diplomica Verlag, Hamburg.