Application of Blue Ocean Strategy for MSME Business Development: Literature Study

Kelvin Leo, Heru Santosa, M. Rofih, Nicholas Panggabean and Yudi Prastyo
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Kelvin Leo: Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia
Heru Santosa: Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia
M. Rofih: Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia
Nicholas Panggabean: Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia
Yudi Prastyo: Department of Industrial Engineering, Pelita Bangsa University, Bekasi, Indonesia

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 1598-1605

Abstract: This study examines the application of the Blue Ocean Strategy (BOS) in developing Micro, Small, and Medium Enterprises (MSME) businesses. Through a comprehensive literature review and qualitative analysis of recent scientific and business journals, this study found that BOS can be an effective strategy for MSMEs to create a new market free from competition. This research was conducted by collecting and analyzing various relevant literature sources. By implementing BOS, MSMEs can identify and eliminate unnecessary factors, enhance existing aspects, and create new unique values for consumers. This study also discusses the potential challenges faced by MSMEs in implementing BOS, such as consumer understanding, implementation difficulties, and competitor growth. The results of the study show that BOS can increase the competitiveness and development of MSME businesses if implemented appropriately and innovatively.

Date: 2024
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