How is a Strategy Canvas used in Blue Ocean Strategy®?

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.

The strategy canvas is a one-page visual analytic that depicts the way an organization configures its offering to buyers in relation to those of its competitors.

It crisply communicates the four key elements of strategy:

1️⃣ The factors of competition;

2️⃣ The offering level buyers receive across these factors; and

3️⃣ Your own; and

4️⃣ Your competitors’ strategic profiles and cost structures.

And it tells a story: It allows you to see – and understand – where you and your competitors are currently investing; the product, service, and delivery factors the industry is competing on; and what customers receive from existing competitive offerings.

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Credits:

This FAQ was written by James D. Ford GAICD | Principal Solicitor, Blue Ocean Law Group℠.