![]() These factors are often arranged in a perceived order of importance and are always positioned on the strategy canvas’s horizontal axis. wine industry in the 1990s, identifying factors such as price, above-the-line (mass media) marketing, and aging quality as established buying criteria. In “Blue Ocean Strategy,” Kim and Mauborgne use the example of the U.S. Think of these factors as product attributes or customer buying criteria. To draw a strategy canvas, a business leader should first identify the factors customers are likely to consider when choosing competing products. “The strategy canvas is both a diagnostic and an action framework for building a compelling blue ocean strategy,” Mauborgne and Kim wrote. One of these methods is to employ a blue ocean strategy canvas. To address this imbalance, Mauborgne and Kim “studied companies around the world and developed practical methodologies in the quest of blue oceans.” They wrote in the book that business strategists had “developed an impressive array of tools and frameworks to compete in red oceans,” but relatively tools existed for blue oceans. Chan Kim and Renée Mauborgne, are world-renowned professors of business strategy. A 2004 book, “Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant,” describes markets as either red oceans, bloody from fierce competition, or blue oceans wherein a business can successfully sail toward growth and profitability without much competition.
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