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Naučne publikacije Državnog univerziteta u Novom Pazaru. Serija B, Društvene & humanističke nauke
2019, vol. 2, iss. 1, pp. 46-55
article language: Croation
document type: Review Paper
doi:10.5937/NPDUNP1901047S


Strategic orientation of Croatian companies: Blue or red oceans?
Sveučilište u Rijeci, Fakultet za menadžment u turizmu i ugostiteljstvu, Rijeka, Hrvatska

Abstract

Contemporary markets are characterised by a strong struggle of competitors who strive for better market positions and greater market share. Because of the intensity of the clashes between competitors, they are often called red oceans. However, there are companies that left these well-established competitive frameworks and opted for a completely different strategic approach based on creativity and innovation in creating new markets, so-called blue oceans, while abandoning the existing competition. This paper seeks to contribute to a better understanding of the blue ocean strategy and, using a sample of Croatian companies, to examine their strategic orientation. In other words, this paper intends to examine whether the Croatian companies tend more to blue or red oceans. The research findings suggest that companies, by their strategic features, are more likely to belong to red than blue oceans. However, although their business is characterised by intense competition with other companies, their profit rates are higher than the average rates in the Croatian economy.

Keywords

blue ocean strategy; competition; innovation

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