A Case of SME's Strategy Development and Implementation, Using Blue Ocean Strategy and Balanced Scorecard as a Model

The paper is based on a real life case study of a textile firm, that is trying to develop and implement the Blue Ocean strategy and Balanced Scorecard. First, the results achieved by the firm under discussion itself are analyzed, dissatisfactory conclusions are made about their implementation of the Blue Ocean strategy. The firm’s main purpose- to become an OBM was not achieved through this strategy. The paper combines the analysis of the original results, achieved by the firm and a new strategic format, which is the combination of Blue Ocean Strategy and BSC . Finally, an attempt is made to create two fresh Blue Ocean strategies for the case study firm. The new potential market is identified, where the firm can become the first-to-market; the improvements to the firm’s potential channel of sales are developed by introducing an entirely new product, for which there is no extant competition. To clearly show the succession of the two strategies’ implementation, a new Balanced Scorecard will be proposed