Organizations, particularly in poor nations, employ a new sustainability approach for short-term respite from high-intensity problems.
Organizations that want rapid growth without environmental, ethical, or sustainability risks owing to political, economic, social, or corruptive environmental factors may pick a quick relief approach.
Organizations that face threats of starting business due to socio-environmental changes, adverse laws, pseudo-environmentalists, corrupted government officials & bureaucratic sanctions, unethical stakeholder behavior, and other factors use this strategy to survive.
This is also true for companies that have already started a business and want to grow inorganically by seizing all the opportunities and overtaking their competitors to establish themselves in the market quickly by either getting priority, special consideration, or bribery to solve their problem of accumulating resources, retaining labor, accessing better technology, or sp In nations with a poor business climate, this method may save some firms’ lives in the near term and others in the long run.
Black ocean approach is used by such companies “by taking risk by making their ethics at stake, for surviving in the business due to heavy pressure by the environment”. A sensible plan to succeed in the market and keep business.
It may be used internally to regulate and preserve industrial peace, increase production efficiency, service effectiveness, internal difficulties, raw material supply, and waste reduction.
External to the organization might include maintaining amicable relationships with stakeholders, government (bureaucrats & politicians), publics, or expanding market share via partnerships, appealing ads, etc. The plan will help the company solve its issue.
Black ocean approach comes from Atharva-veda, Indian philosophy. It is black magic to help an organization or person achieve their purpose despite obstacles.
Organizations should not announce closure by admitting failure whether establishing, continuing, or competing in business. Instead, they investigate the fundamental cause, reasons for failure, and take choices and activities to win even if all environmental conditions are against the business.
Black ocean strategy is not a way to face the competition by identifying various forces that affect the organizational business, monopoly product/service development, uncontested market space identification, or new customer service, but rather a way to kill competitors, create a monopoly, or solve life-threatening problems caused by the organization’s own mistakes or environmental factors.
Many firms use the Black ocean method in low-ethical environments to avoid unanticipated difficulties. This method allows the company temporary oxygen to continue operations and regain its reputation in the market and with consumers.
In light of the fact that I am unable to locate a case study of this strategy, I am considering including it in a different writing.
