This study explored Blue Ocean Strategy’s (BOS) conceptual frameworks within small businesses and whether their use were instrumental in sustaining small businesses during the 2008 economic crisis. Ten small business owners were interviewed in an attempt to answer the research questions: what was the small business owner’s perceived experience of BOS and how it relates to survivability during economic downturns; and, what was the small business owner’s lived experience of BOS and how it relates to survivability during economic downturns? This study expanded upon the research generated by seminal authors, Kim and Mauborgne (2015) found in their book, Blue Ocean Strategy, How to Create Uncontested Market Space and Make the Competition Irrelevant. Additionally, this research explored ways small business owners were successful in breaking out of competitive, overcrowded, red ocean constraints. The literature review focused on sustainability during economic downturns, small business strategies for success, and BOS’s conceptual frameworks. With the use of qualitative phenomenological research this study was executed utilizing face to face interviews. The data results revealed all participants implemented one or more of the conceptual frameworks referenced in Blue Ocean Strategy, How to Create Uncontested Market Space and Make the Competition Irrelevant (2015). The findings supported small business owners’ execution of BOS’s conceptual frameworks, having reached beyond their existing demand, reconstructed their market boundaries, added value for the consumer with new products and or services, having provided a leap in value for the consumer, as well as the company.
|Adviser||William J. McKibbin|
|Subjects||Entrepreneurship; Management; Business education|
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