Situational and Mixed Business Strategy Analysis for Market Competitiveness: An Exploration in Context of Africa

Abstract

The purpose of this study is to review various business strategy options and the experience of some of the companies out there who have managed to create a new market space in already declining and saturated industry. Irrespective of sizes of companies, small, medium or large, it is customary to evolve a business strategy, in order to set the future strategic position of the firm in the marketplace in terms of product and service offering, pricing and growth strategy. An organization could have an ideal strategy formulation in place, but without proper implementation mechanism it would be waste of resource and time and a pointless effort that could not produce the expected result. The research methodology employed in this study is literature review of peer reviewed articles published in quality journals. The analysis and discussion led to findings that there is always a room for incremental innovation and customer value proposition that would lead to create a new demand and market space. Moreover, there is no 'one size fit' strategy that would give winning edge for businesses, rather situational approach and combined strategy option could be the approach recommended.

Implementation of Blue Ocean Strategy in Facing Business Competition: A Startup Case Study of Lapangbola.Com

“…In startups, one of them plays an essential role in increasing global competitiveness. Start-ups can be competitive in an environment full of organizations and resources, but they need to understand which factors are most important to improve their level of competitiveness (Yeshitila et al, 2020).…”

“…In essence, it serves as a metaphor for a pristine and extensive market with unexplored potential (Mirghaderi et al, 2023). Whereas, Yeshitila et al (2020) explain that industrial boundaries have been widely defined and accepted in the red ocean. Several approaches can be implemented to determine strategies for dealing with market competition in a startup, one of which is the Blue Ocean Strategy (BOS) approach by Luo & Kao (2020) and York (2019), proven by research conducted by Puspitasari & Novasari (2019) who successfully applied Blue Ocean Strategy innovations to the Remove-Reduce-Improve-Create scheme.…”

“…Several approaches can be implemented to determine strategies for dealing with market competition in a startup, one of which is the Blue Ocean Strategy (BOS) approach by Luo & Kao (2020) and York (2019), proven by research conducted by Puspitasari & Novasari (2019) who successfully applied Blue Ocean Strategy innovations to the Remove-Reduce-Improve-Create scheme. The Blue Ocean Strategy encourages companies to break through fierce red ocean competition by creating uncontested market space, with new demand for products and services through innovation (Kadam, 2022;Shyam, 2019;Yeshitila et al, 2020). Beside that, this strategy allocates organizational resources to activities that generate more value for customers (Yunus, 2021).…”

Generating Competitiveness through Trending Marketing strategies, Case of Gen Z Consumers in the Restaurant industry

“…In today's business world, digital marketing considerably boosts a company's performance and competitive advantage (Momaya, 2020;Panchal & Krishnamoorthy, 2019;Sonar et al, 2020;Yasmin et al, 2015;Yeshitila et al, 2020). Firm digital marketing strategies, along with a rise in brand loyalty, aim to raise consumer brand awareness (Jain et al, 2020), decrease marketing expenses, boost consumer visits to the brand page, and improve search rankings across a variety of search engines (Kaushik, 2016).…”

The balanced scorecard's evolution as a strategic mechanism at banking sectors

“…). Referring to the above instruments, a number of researchers objectively investigated correlations (Qing-Rui et al 2020) and disparities(Yeshitila et al 2020) between TDB and BSC. For example, Bessire and Baker (2005) have critically examined the BSC and TDB in a positive manner.…”