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The strategy canvas is a central diagnostic tool and an action framework developed by W. Chan Kim and Renée Mauborgne for building a compelling blue ocean strategy. It graphically captures, in one simple picture, the current strategic landscape and the future prospects for a company.
The strategy canvas serves two purposes:
- To capture the current state of play in the known market space, which allows users to clearly see the factors that the industry competes on and where the competition currently invests
- To propel users to action by reorienting their focus from competitors to alternatives and from customers to noncustomers of the industry
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.
The value curve or strategic profile is the basic component of the strategy canvas. It is a graphic depiction of a company’s relative performance across its industry’s factors of competition. A strong value curve has focus, divergence as well as a compelling tagline.
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