Blue ocean strategy, firms’s core competence, and the micro, small, and medium enterprises’ obsession for industry competitiveness
摘要
The study examined how consolidated constructs of Blue Ocean Strategy, mediated by Firms’ core competence relate to Micro, Small, and Medium Enterprises’ competitiveness of the manufacturing and service firms in the six geopolitical zones of Nigeria. Existing researches on Blue Ocean Strategy and constructs studied them in their monolithic context only without assessing their individualized and aggregated impact on business firms. The study has been designed to address the inherent loopholes.
Research methodologyCross-sectional survey design involving questionnaire was adopted for the study with the aid of stratified random sampling technique. The target population of the study was 4, 572 owner managers of MSMEs in the entrepreneurially-economic active regions of the six geopolitical zones in Nigeria with a sample size of 460. Reliability and validity of instruments were confirmed. Linear and multiple regressions including structural equation modeling validated the hypotheses.
Results and findingsResults strengthened positive mediating role of core competence between Blue Ocean Strategy and MSMEs’ competitiveness. Research evidence has also underscored higher predictive impact of aggregated constructs of BOS on competitiveness than when studied in their detached contexts.
Empirical implicationsThe mediating effect of core competence in the Blue Ocean Strategy–competitiveness linkage is comparatively stronger than a no-mediation scenario implying that owner managers should develop on their core competence in order to be competitively agile in the industry.
Study originality/valueRecords are replete with avalanche of growing research in strategies and entrepreneurships. However, literatures that link Blue Ocean Strategy to MSMEs’ competitiveness are exiguously scanty; and while plethora of related studies have been attempted in advanced countries, rarely could be said of the MSMEs in Nigeria. In effect, most tools of the Blue Ocean Strategy are still alien to the Nigeria, thus strengthening the novelty and contextual bases for the study. Furthermore, the core competence as a mediating variable between Blue Ocean Strategy and firms’ competitiveness has been ignored by extant studies; and by modifying the Blue Ocean Strategic constructs and adding a new proxy, the study has provided new research ground for future studies.