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Leap-Frogging the Competition through Blue Ocean Strategy: A Compelling Case For Small and Medium Enterprises

Author

Listed:
  • Gideon Simon Ghajiga

    (Federal University Wukari, Wukari & Mzansi Youth Leadership Academy, South Africa)

  • Dikeledi Jacobeth Warlimont

    (Mzansi Youth Leadership Academy, South Africa, SADC, and ECOWAS)

  • Pius Shaun Warlimont

    (Mzansi Youth Leadership Academy, South Africa, SADC, and ECOWAS)

Abstract

In today's competitive business landscape, Small and Medium Enterprises SMEs face challenges in standing out and expanding their market reach. Traditional approaches like cost-cutting and price competition may not be sufficient for sustainable growth. To overcome these challenges, SMEs can adopt a Blue Ocean Strategy (BOS) to create uncontested market space and leapfrog the competition. It involves finding and creating a new market space, rather than competing in existing markets, by offering a unique value proposition that attracts new customers. This paper explores the key concepts of the Blue Ocean Strategy and how SMEs can apply them to their businesses. It also presents case studies of successful SMEs that have used the Blue Ocean Strategy to achieve significant growth and profitability. These case studies show how SMEs can find new market spaces and create differentiated value propositions to attract new customers, outcompete and outperform their rivals.

Suggested Citation

  • Gideon Simon Ghajiga & Dikeledi Jacobeth Warlimont & Pius Shaun Warlimont, 2023. "Leap-Frogging the Competition through Blue Ocean Strategy: A Compelling Case For Small and Medium Enterprises," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 113-121, August.
    • Handle: RePEc:ovi:oviste:v:xxiii:y:2023:i:1:p:113-121
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    References listed on IDEAS

    as
    1. Acs,Zoltan J. & Armington,Catherine, 2011. "Entrepreneurship, Geography, and American Economic Growth," Cambridge Books, Cambridge University Press, number 9781107402539, November.
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    More about this item

    Keywords

    Blue Ocean Strategy; Small and Medium Enterprises; value proposition; strategy canvas; recreannovationism;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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