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Some strategies to identify what sets a business apart from its competitors include using tools like the Strategy Canvas, which plots business factors against their importance. This allows for a comparison between your business and competitors to formulate a competitive strategy. Identifying divergent value propositions can then be applied to the Blue Ocean Strategy framework. This framework helps identify what sets your business apart in a saturated marketplace. Instead of competing in areas where others excel, resources are allocated to what makes your business unique.
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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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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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