Blue Ocean Strategy: The Room for Ethics

If you search this groundbreaking book for the word “Ethics”, there is none (please let me know if I missed it). This is not a problem at all, because under formal business context, the assumption is that we talk about only legal and ethical avenues to start, manage, and eventually grow a “blue ocean” business. The irony is that many blue ocean businesses could spark ethics debate despite the fact that they are playing in a legal market space. Should one vie for an ethically submerged market even though there are untrodden profit opportunities? How about the Genetically Modified Organism (GMO) food products that is quite legal, yet a sizable group of scientists are in ethical as well as scientific debate whether we are putting ourselves at risks or not? Whereas some scientists claim that GMOs are safe, there are others who claim that it is not. On both sides, there are arguments that we, the common people, are often in the middle of nowhere to understand this. The anti-GMO group often alleges that GMO food companies are well known for their “food security” fear tactics among developing countries and selling a comprehensive seed, fertilizer and pesticide “package”. It is not only the seed that you buy, but you have also to buy the whole package at their designated price. Strictly from business point of view, this is really a wonderful business model, with great profit potential indeed.

At this point, many of us would probably need to know the difference between “hybrid” and “GMO”. In an over-simplified term, traditional hybrids are made of cross-pollination of similar organisms, for example, a cross-pollination can be made between wild big tomatoes and household small tomatoes in order to make hybrid seeds of bigger household tomatoes. GMOs are not necessarily the same. For example, some GMO tomatoes would be modified by cross-injecting genetic materials from another domain, like fish gene injected inside a tomato to make it resistant to cold weather. Probably this is where the scientific community is divided whether GMOs are safe in the long run. Now the point is, are all these blue ocean companies need to care about ethical and scientific debate and come clean, or keep enjoying the blue ocean profit at any cost? Blue Ocean strategy could be a life saver, like a medicine prescribed by a qualified doctor. Blue ocean strategy could be evil, like a medicine in the hands of a drug-addict (?).

Advertisements

About 1mmarketing

Working as Associate Professor, School of Business, United International University, Bangladesh; a North-American graduate, with doctoral studies from UUM, Malaysia, cherishing a wide-view of the world, with multiple interests in culture, people, traveling, and specifically marketing science. I have a colorful and diversified background with a blend of corporate experience, research, consulting, training, public speaking and teaching. I love to write about marketing issues that affect our lives, and talk about its direction that would promote the greatest human welfare.
This entry was posted in Strategic Marketing and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s