In Investigation on the implementation of Blue Ocean strategy in participation bank located in Turkey

Abstract

Competition is one of the most important issues in terms of the market which meets the needs and demands of the current economic system. In the market where customer demands and needs change very rapidly, the growth in terms of businesses is getting harder every day. It is even more difficult for businesses to get a share of the market and thus to make higher profits in competition-intensive environments. Participation banks, like any business, continue to exist in a highly competitive environment in the market they serve. For this reason, participation banks need to sail from the red oceans where competition is intense, to the blue oceans where competition is meaningless. This study conducted research on the strategies they use as blue ocean strategy of participation banks in Turkey. In the first part of the research, information about blue ocean strategy is given. In the second part, data collected through open-ended question examples and face to face interview technique with branch managers of Kuweit Turk Participation Bank, Turkey Finance Participation Bank and Albaraka Turk Participation Bank, operating in Turkey over these past years, is given. In the last part of the research, it is emphasized that the participation banks, which are the rising value of today, need blue ocean and how to reach the new blue oceans that will make the competition meaningless.