Strategy Canvas Template

Despite uncountable strategies in business marketplace assessment, still business owners find themselves parched in search of real guidance, therefore several innovative tools have been introduced to check the business status comprehensively.

One of these is the strategy canvas tool. W. Chan Kim and Renee Mauborgne have introduced this tool in their book Blue Ocean Strategy as a graphic chart plotting business competitors against the marketplace winning factors. The horizontal line demonstrates the competitive factors while the vertical axis displays the level of services and offers by different businesses.

What is the strategy canvas?

A strategy canvas is a graphical representation that enables a business to conduct competitive analysis. It is a graph that plots the factors that are considered very important by an organization. The business can also easily formulate a strategy to give a tough time to its competitors with the help of strategy canvas.

The strategy canvas template is a combination of the x and y-axis. On the x-axis, several competition-related factors are plotted against the company’s performance rating on the y-axis. In this way, you can consider two companies and make a better comparison between them. The good points and flaws both are considered to conclude.

The graph represents the divergence in market demands and business strategies. A new value is determined through this strategy canvas. The value curve is the fundamental finding of the strategy canvas. It is a graphic illustration of a business’s relative performance diagonal to the factors of competition.

Strategy Canvases provide a track of interpreting with what strategies your competitors attract customers; additionally, they identify how your customers prefer the product or service in your category.

This allows you to stand uniquely in the market by applying an exclusive genre and a combination of factors on which you can compete successfully. If you are vigilant enough to identify your rivals or competitors either by brand names or by a cluster of entrepreneurs working in a similar field, of your business and you are expert enough to bring innovative competitive factors, then you can effectively analyze the competition. For a workable analysis, a strategic canvas chart should be practically drawn with a line for each competitor and their performance according to the customer’s preferred factors.

This sketching is a bit complex procedure, therefore, many business people are taking help from pre-formatted customized templates to draw their Strategy Canvas Graphics.