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A business can ensure that its Strategy Canvas accurately reflects its competitive landscape by regularly updating and reviewing it. It should include all relevant factors that affect competition, such as price, quality, and service. The business should also consider the strategies of its competitors and any changes in the market. It's also important to incorporate customer feedback and market research into the Strategy Canvas. This will help the business identify its unique value propositions and differentiate itself from its competitors.
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Strategy Canvas is useful for plotting business factors against their importance. This way, you can compare competitors to your own business to formulate a competitive strategy. Any divergent value propositions you identify can be branched off and applied to the Blue Ocean Strategy framework. Blue Ocean helps you see what sets you apart from the existing competition in a saturated marketplace. Instead of competing in the areas that others already excel at, allocate resources to what makes you unique. (Slide 6)
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Document the essence of your business strategies and develop new ideas with our Canvas Collection. This deck includes some of the most commonly used c...
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