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The benefits of not competing in areas where others already excel include the ability to focus on unique aspects of your business, which can set you apart from the competition. This can lead to the creation of a unique value proposition, which can attract a different set of customers. It also allows for more efficient use of resources, as they are not being wasted on trying to outdo competitors in areas where they are already strong.
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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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