Using Key “Blue Ocean” Tools for Strategy Rethinking of a SME: A Case from the Bulgarian Knitwear Industry

• Authors: Emil Papazov , Lyudmila Mihaylova
• Languages of publication: EN

Abstracts

EN

The purpose of the article is to explore opportunities for rethinking the strategy of small and medium enterprises (SMEs) using the “Blue Ocean” concept and its inherent value innovation paradigm as an alternative to the traditional competitive strategy rationale. The paper also highlights important aspects of analytical tools of a relatively less known practice for Bulgaria, such as the “Strategy Canvas”, the “Four Actions Framework”, the “Eliminate-Reduce-Raise-Create Grid” and the “Six Paths Framework”, and shows how to apply them when analysing and creating a new and uncontested market space. Special attention is paid to the possibilities concerning the practical use of the described tools in a leading SME from the Bulgarian knitwear industry.

Keywords

EN

“Blue Ocean” strategy; small and medium enterprise (SME); strategic management; value innovation

• Publisher: Sciendo
• Journal: Economics and Business
• Year: 2016
• Volume: 29
• Issue: 1
• Pages: 104-110

Dates

published

2016-08-01

online

2016-09-10

Contributors

author

Emil Papazov

• University of National and World Economy – Sofia

author

Lyudmila Mihaylova

• University of Ruse

Identifiers

DOI

10.1515/eb-2016-0028