Abstract

The purpose of this paper is to explore the overarching theme of blue ocean strategy thesis and its determinants, alongside the arguments building the antithesis of blue ocean strategy and its determining factors. The approach included reviewing the empirical and seminal literature inclusive of books on blue ocean strategy and articles published by eminent scholars and researchers. The paper presents in detail the theme encompassed by blue ocean strategy, elaborates the theoretical perspectives and highlights its components inclusive of description of frameworks and analytical tools. Porter’s theoretical perspective on strategy was incorporated in the discussion to build the arguments for antithesis and conclusions are accordingly drawn. This paper is meant to provide some diverse perspectives on Strategy, the related description of frameworks and analytical tools for the constituencies of academia, practitioners and policy makers. This review study may advance knowledge in the domain of understanding Strategy, its two contrasting theories along with linked determinants and constructs from different lenses, relevant for academia, practitioners, and policy makers.

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