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If a company's profitability is shrinking year by year, which strategy should they adapt? and why?
Simply, Blue Ocean strategy does look at the businesses and industries as "not existed", obviously not in that negative way, but more motivational way, meaning, a firm while applying the blue ocean strategy, look beyound the expertise and existing product/severice they are providing. Investigate and invest into something new, follow trends and technology. Look back50 years ago, would you find headphones and music players? Internet and digital tv/radios, etc. All these came from thinking outside the box.
The box itself, is the Red Ocean strategy, basically, the boundaries the firm set and should not cross.
To answer your question, without understanding the generale issue of why profit is shrinking, I would suggest the blue ocean strategy. Investigate on new technology and innovation and try new moves.
Hope this answer helps and very good luck :)
Good Question,
ABlue Ocean stradegy is an uncontested market place. A Blue Ocean offers new opportunity for profitable and rapid growth to an entirely new market. In a Red Ocean stradegy , everyone is just talking a different version of the same thing to the same group of people VS a Blue Ocean where you guide new people over to your primary program.
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