Strategy Canvas

The video tutorial explains the Blue Ocean Strategy, which aims to create new markets and avoid competition in existing ones. It introduces the strategy canvas, a tool to visualize and analyze a company's value chain by plotting important business factors. The tutorial guides viewers on implementing the canvas, comparing it with competitors, and adjusting strategies to gain competitive advantages in new markets.

Explain how comparing your strategy canvas with a competitor's can provide insights.

What should a business do if a competitor has a competitive advantage in a certain area?