Blue Ocean Strategy and its Role in Enhancing Business Competitiveness
Keywords:
Blue Ocean, Business, CompetitivenessAbstract
The development of the current era makes competition in business even more intense. One product can be produced by many companies. This is why innovation is essential to succeed in the competition. One way to achieve innovation in business is by developing new products. This study is aimed at investigating how companies can develop a new product successfully and be accepted by consumers. The research found that a strategy with innovation in product with improvement is always successful in creating high-quality products and can be accepted by consumers. This study makes a new contribution to the literature on corporate strategy in new product development and business model innovation and finds evidence that business model innovation is an effective way to direct a company's strategy to achive competitive advantage and increase the success of new development products. Some recommendations for managers and directions for future research are presented
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