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The Effects of Chaos Theory, Six Sigma and Blue Ocean Approach on Firm Performance at Family Firms: An Empirical Study in Turkey
(World Scholars Publications, 2014) Altindag, Erkut; Kazdal, Omer Samet
In this study, the effect of the modern management models on general performance of the family corporations was analyzed with the questionnaire method. Blue Ocean Strategy, Six Sigma and Chaos Theory were used as the modern management methods. In the questionnaire, total 330 directors working in 17 different family corporations were asked questions under the title of Market Orientation, Modern Management Models and General Performance of the Corporation. In analysis part, it was clearly seen that Blue Ocean Strategy came into prominence compared to Chaos Theory and decreased the effects of Six Sigma on overall performance. While necessity of reaction formation has a high importance for all operations in a competitive environment, it is an inevitable fact that highly negative effect of the non-reaction affects the financial and growing performance of the business. In conclusion, it came out that Blue Ocean Strategy directly affects the business performance and that corporations try to wait for an opportunity and try to increase the business skills in an ambiguous competitive environment.