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

Papazov Emil () and Mihaylova Lyudmila ()
Additional contact information
Papazov Emil: University of National and World Economy – Sofia Latvia
Mihaylova Lyudmila: University of Ruse Latvia

Economics and Business, 2016, vol. 29, issue 1, 104-110

Abstract: 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: “Blue Ocean” strategy; small and medium enterprise (SME); strategic management; value innovation (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://doi.org/10.1515/eb-2016-0028 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecobus:v:29:y:2016:i:1:p:104-110:n:13

DOI: 10.1515/eb-2016-0028

Access Statistics for this article

Economics and Business is currently edited by Remigijs Počs

More articles in Economics and Business from Sciendo
Bibliographic data for series maintained by Peter Golla ().