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Some examples of businesses that have successfully used the Blue Ocean Strategy include Cirque du Soleil, which created a new market space in the entertainment industry, and Yellow Tail, which did the same in the wine industry. Both companies were able to differentiate themselves from their competition and create a new demand, thus making the competition irrelevant.
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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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