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Schumpeter and the Blue Ocean Strategy

Author

Listed:
  • Jan Ter Wengel

    ()

  • Gilma Beatriz Ferreira-Villegas

    ()

  • Gérman Pérez-Hernández

    ()

  • Luis Miguel Suárez-Cruz

    ()

Abstract

Resumen The purpose of this paper is to integrate and quantify the Blue Ocean Strategy for the business activities proposed by the Kim and Mauborge model and by Schumpeter´s competitive strategy. It analyzes the importance of innovation and scale economy in Colombia, based on information from 8.000 companies over a period of 12 years. This study also emphasizes the importance of new product performance, new technologies, innovation, invention, scale economy and production cycles in companies, based on our empirical exercise and international trade and economy recent literature. The possibility of improving the performance of companies with strategies for new products and processes is vital for industry policies seeking new ways to help businesses foster innovation. This paper analyzes how the Blue Ocean Strategy is particularly useful as a guide to help entrepreneurs achieve dynamic innovation. The empirical exercise documented is a sector analysis approach for company growth, considering contribution decomposition obtained by of the development of new products, markets, processes, raw materials used and reorganization through take-overs and fusions.

Suggested Citation

  • Jan Ter Wengel & Gilma Beatriz Ferreira-Villegas & Gérman Pérez-Hernández & Luis Miguel Suárez-Cruz, 2010. "Schumpeter and the Blue Ocean Strategy," REVISTA DE LA MAESTRIA DE DERECHO ECONÓMICO, UNIVERSIDAD JAVERIANA - DERECHO ECONOMICO, December.
  • Handle: RePEc:col:000441:011505
    as

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    File URL: http://www.javeriana.edu.co/Facultades/C_Juridicas/pub_rev/revista6_2/2.jan_ter_wengel_2.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Innovation; Invention; Business Management; Industrial Economy;

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General

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