![]() ![]() ![]() The ERRC grid’s key issues (eliminate, reduce, raise and create) are important elements of the Blue Ocean Method. The approach is simple: you develop new concepts that are unique on the market in order to escape the existing competition (the “red ocean”) and therein make competition become irrelevant (the “blue ocean”). It allows you to expand the market boundaries of your company in order to gain new clients. The Blue Ocean Method offers tools to become a pioneer of an industry branch. ![]() It propels users to action by reorienting their focus from competitors to alternatives and from customers to noncustomers of the industry and allows you to visualize how a blue ocean strategic move breaks away from the existing red ocean reality.Discover many strategic tools (like PES square, ERRC grid, As Is Strategy Canvas or six paths framework) to implement the Blue Ocean Method.It captures the current state of play in the known market space, which allows users to clearly see the factors that an industry competes on and invests in, what buyers receive, and what the strategic profiles of the major players are.Importantly, it creates a commonly owned baseline for change. It exposes just how similar the players’ strategies look to buyers and reveals how they drive the industry toward the red ocean. The strategy canvas allows your organization to see in one simple picture all the factors an industry competes on and invests in, what buyers receive, and what the strategic profiles of the major players are. The horizontal axis on the strategy canvas captures the range of factors that an industry competes on and invests in, while the vertical axis captures the offering level that buyers receive across all of these key competing factors.Ī value curve or strategic profile is the graphic depiction of a company’s relative performance across its industry’s factors of competition. ![]()
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