How does the Strategy Canvas challenge existing paradigms in strategic planning?

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Blue Ocean Shift

Released in early-October 2017 — Blue Ocean Shift — is the continuation of the award-winning Blue Ocean Strategy, a bestselling strategy book based on...

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The Strategy Canvas is a one-page visual that tells a story in the form of a graph. The horizontal axis shows the key factors that the industry competes on, while the vertical shows the offering level that buyers receive or experience for each of these factors. The blue ocean team first identifies between five and twelve key competing factors for the "as-is" Strategy Canvas. Factors can relate to an offering's product, service, or delivery platforms, but all should describe a key aspect of the offering from the buyer's point of view. For example, a charity's list of factors for the fund-raising industry might include pity pleas, soliciting grants, year-round events, recognition of donors, and so on.

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How can a traditional sector like retail apply the Strategy Canvas in their business model?

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A traditional sector like retail can apply the Strategy Canvas in their business model by first identifying the key factors they compete on. These factors could include product range, price, customer service, store location, and delivery options. They then plot these factors on the horizontal axis of the Strategy Canvas. The vertical axis represents the level of offering that customers receive for each factor. By plotting their current state and comparing it with potential changes or innovations, retailers can identify areas for improvement or differentiation. This can help them move towards a 'blue ocean' of uncontested market space.

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