Errors of entrepreneur in Nigeria: the blue ocean strategy as panacea
Nigeria’s harsh economy has posed business planning challenges to many small and medium scale entrepreneurs. In a bid to thrive, some of these business entrepreneurs often commit errors along the path of entrepreneurship. While most errors are helpful to the business, others are harmful. The blue ocean strategy (BOS) is an up-to-the-minute approach of thoughts; a bold, recent path to winning the future. This study conceptualizes with empirical data the common errors of a number of the entrepreneur in Nigeria and highlights the BOS as a panacea. The paper identified two objectives; to determine the effect of planning error on entrepreneurs’ success in Nigeria and the effect of Blue Ocean Strategy on the Success of Entrepreneurs in Nigeria. Statistically, two research questions and hypotheses were formulated. The descriptive statistics of simple frequency count and simple percentage were used for description and analysis.
Ajadi, I. A. (2010). Blue Ocean Strategy: A Panacea to the Menace of Bureaucratic Corruption in Nigeria.
Bolarinwa, J. O. (2005). Bureaucratic corruption in Africa: the futility of cleanups. The Nigerian Journal of Economic History, (7-8), 164-185.
Kim, C., Yang, K. H., & Kim, J. (2008). A strategy for third-party logistics systems: A case analysis using the blue ocean strategy. Omega, 36(4), 522-534. https://doi.org/10.1016/j.omega.2006.11.011
Kim, W. C. (2005). Blue ocean strategy: from theory to practice. California management review, 47(3), 105-121. https://doi.org/10.1177%2F000812560504700301
Kim, W. C., & Mauborgne, R. (2005). Blue Ocean Strategy: How to Create Uncontested Market Space Competiton Irrelevant.
Mauborgne, L. (2004). Astrée: Verification of absence of runtime error. In Building the Information Society (pp. 385-392). Springer, Boston, MA. https://doi.org/10.1007/978-1-4020-8157-6_30
Ogundiya, I. S. (2011). Anti-corruption reforms in Nigeria: challenges and failures. Assessment of Democratic Trends In Nigeria, 191-209.
Oosterbroek, J. W. (2007). Curtailing corruption in the European Univon: an Asian approach to combat corruption in the European Union (Bachelor's thesis, University of Twente).
Copyright (c) 2019 International journal of social sciences and humanities
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.