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The Blue Ocean Strategy is a way for organizations and entrepreneurs to create a new market space that makes the competition irrelevant. The strategy was developed by INSEAD professors W. Chan Kim & Renée Mauborgne in their 2004 bestseller titled " Blue Ocean Strategy ."
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There are two ways to create blue oceans. One is to launch completely new industries, as eBay did with online auctions. But it's much more common for a blue ocean to be created from within a.
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The idea of the Blue Ocean Strategy Canvas is to be a tool for discovering these blue oceans. When do I use the Blue Ocean Strategy Canvas? To make it work, you need to evaluate and analyze the needs of your customers, your own performance and the performance of your competitors.
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Blue Ocean Strategy Canvas: Definition: A visual framework that helps companies identify and analyze key factors in their industry and create a new value curve for their Blue Ocean Strategy. Role: Guides strategic decisions by providing a clear visual representation of the current state of the industry and the potential changes to create a Blue.
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Decide which potential blue ocean opportunity to pursue and launch. Conduct a blue ocean fair with your team to select the blue ocean move. Draw your to-be strategy canvas in Blue Ocean Studio™ to finalize the business model that will deliver a leap in value for buyers and your company. Launch.
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The Blue Ocean Strategy Canvas is a visual representation of a business's current market space and the opportunities for creating a new market space. It's a powerful tool that helps businesses identify areas where they can differentiate themselves from the competition and create uncontested market spaces.
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Blue ocean leadership works because the managers' "customers"—that is, the people managers oversee and report to—are involved in identifying what's effective and what isn't.
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Step 1: Create A Strategy Canvas. A strategy canvas is the most fundamental tool used in the Blue Ocean Strategy framework. It is designed to give you an immediate snapshot of how your business/product/service stacks up against the competition. To get started, first list the products (or services) you want to compare.
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Step 3: Visual Strategy Fair. This step involves drawing the "to be" strategy canvas based on insights from field observations and getting feedback on alternative strategy canvases from customers, competitors' customers, and noncustomers. This feedback will then be used to build the best "to be" future strategy.
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Blue Ocean Strategy is a business term that first appeared in the book (of the same name) by W. Chan Kim and Renee Mauborgne. Its methodology provides companies with an escape route from the intense competition over the same market space, as we just discussed. It leads to unchartered territory. Somewhere exciting, never before explored.
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Start creating your As-Is Strategy Canvas in Blue Ocean Studio™ today: https://learn.blueoceanstrategy.com/blue-ocean-studio Learn how to use the As-Is Strat.
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Strategy Canvas is a central diagnostic tool and an action framework for building a compelling blue ocean strategy. It graphically captures, in one simple picture, the current strategic landscape and the future prospects for an organization. The strategy canvas is developed by Chan Kim and Renée Mauborgne.
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Chan Kim and Renée Mauborgne's Leadership Canvas is a central, analytic tool of Blue Ocean Leadership. It gives managers a concrete, visual framework to draw a clear picture of the current leadership reality at various levels in an organization and to understand the way employees experience leadership and where leadership may be falling short.
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What is the Strategy Canvas? The strategy canvas is a powerful one-page, visual tool that depicts the way a business configures its offering to buyers in relation to those of its competitors. It is both a diagnostic tool and an action framework for building a compelling blue ocean strategy.