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This article aims to explore the techniques and features of the Blue Oceans Strategy and provide insights into the applicability of this famous approach. The paper analyzes the concept of the Blue Ocean strategy, its origins and development, the relation of the Blue Ocean's metaphor to innovation, the relation between the Blue Ocean and the Red Ocean strategy, the Blue Ocean strategy, social entrepreneurship, and social inclusion. The article examines examples of the application of the Blue Ocean Strategy in Lithuania and abroad. The scientific discussion on the issue of the Blue Ocean strategy (further - BOS) covers certain benefits present in each manifestation of the examined strategy. For instance, "value innovation" is one of the topics that has developed rapidly over the last two decades. The "value creation" (or "innovation") aims to create new demand through transforming user experience by offering 'scalable personalization' and using ubiquitous smart technologies to turn traditional products into interactive, information-rich inclusion platforms. Therefore, the Blue Ocean strategy presents a systematic approach to making the competition irrelevant. It outlines the principles and tools that any organization can use to create and capture its undiscovered blue oceans. The scope for defining entrepreneurship is broad and results in many definitions. The discussion turns around the concept of entrepreneurship, and the article's authors also engage themselves in the questions of whether and how to confirm the inter-relation of the BOS and entrepreneurial activities. The authors attempt to prove the principle of the Blue Ocean strategy to be perfectly adaptable to non-profit companies. A case study of the arts agency "Artscape" is provided, and the conclusions are drawn from this part. The authors claim that the theory of the Blue Ocean strategy is still relevant and motivating for the current companies, regardless of their legal status - budgetary or NGO. Keywords: Blue Ocean strategy; Red Ocean strategy; innovation; social inclusion; entrepreneurship. |
