"Blue Ocean Corporations:"Why there is everything new under the sun"", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 1, page no.50-62, January-2018, Available :http://www.jetir.org/papers/JETIR1801011.pdf

• Anju Singh
• Prof. (Dr.) Pankaj Madan

A Blue Ocean Transformation is a meta-process that involves orchestration and leadership across a cluster of activities, resources, processes, and best practices to manage comprehensively and systemically, something that is strategically critical. They empower and make precise decisions about direction, align stakeholders, engender readiness for change, and increase agility for capturing value and for risk mitigation. We began by describing how new opportunities and challenges within the upstream industry have created an inflection point that requires a transformative approach to strategy and strategic management. Capturing and producing new oil and gas resources is complicated by increased competition, new technologies that open up unconventional plays, the rise of NOCs, large Independents and service companies.Meanwhile, a decrease in global geo-science and engineering talent pools, the need to manage post-Macondo risks, pressure toward alternative sources of energy, complicate short term as well as long term decisions. We have outlined the Blue Ocean Strategy Organizational Transformations Framework to show how it has evolved from a strategic model employed by high-tech companies to undergird agility in high-velocity markets, to a comprehensive strategic framework relevant for upstream oil and gas entities as they capture opportunities and manage risks in the changing business environment. They can sharpen strategic agility and are the key to seizing and profiting from opportunities in the new business environment and empower upstream E&P strategy.

Blue Oceans, Upstream E&P (Exploration and Production), Object, Speed, Velocity, Strategy canvas, Organizational Transformations

"Blue Ocean Corporations:"Why there is everything new under the sun"", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 1, page no. pp50-62, January-2018, Available at : http://www.jetir.org/papers/JETIR1801011.pdf