Blue Ocean Strategy - A Brief Introduction and Strategy Canvas Exercise
Assignment: Create a Strategy Canvas
Now it's your turn to take the helm and chart out your own blue ocean. Follow the instructions below and the Excel template provided to create your own strategy canvas. Once completed, upload your strategy canvas to the assignment dropbox labeled.
Before you begin building out the strategy canvas, think about how you can create Value Innovation using the Four Actions Framework to create new demand and find your blue ocean.
- What industry do you want to use to complete this exercise? This can either be the industry you are currently working in or any other industry of interest to you.
- What brand do you want to use as your focal brand in that industry for this exercise?
- What factors does this industry traditionally compete on? (i.e. price, amenities, etc.)
- Are there any factors that could set you apart in that industry?
- Are there any factors that do not add any value and could be dropped?
- What could be created to add value?
Steps to Build a Strategy Canvas
1. Identify the Competition
2. Identify the Factors of Competition
3. Evaluate the Competition
4. Chart your Competitive Differentiation
Reply to the following on words doc.
1. Final graphics (Blue Ocean Canvas)
2. Did you find a blue ocean? If so, what it is? If not, why not?
3. What recommendations would you make to move your organization toward that blue ocean?
4. How did your list of Value Elements (Factors of Competition) move you toward a blue ocean or determine to remain in a red ocean?
Attachment:- Assignment Files.rar