How can you use the Strategy Canvas framework to identify opportunities for operational planning?

1 What is the Strategy Canvas?

The Strategy Canvas is a visual tool that compares the value propositions of different players in a market along several key factors. The horizontal axis represents the factors that customers value and the vertical axis represents the degree of offering or performance on each factor. By plotting the value curves of the current and potential competitors, you can see how they compare and contrast in terms of satisfying customer needs and expectations. The Strategy Canvas can help you identify the gaps, overlaps, and trade-offs in the market and reveal the potential for creating a blue ocean, or a new and uncontested market space.

2 How to create a Strategy Canvas?

Creating a Strategy Canvas involves four steps. First, you need to define the scope of the market or industry you want to analyze, which can be broad or narrow depending on your purpose. Second, identify the key factors that customers value in the market or industry by using surveys, interviews, observations, or secondary data. Additionally, you can use the four actions framework to eliminate, reduce, raise, and create factors that affect customer value. Third, assess the current and potential competitors on each factor with a scale from 0 to 10 or a qualitative rating such as low, medium, or high. You can also use data from sources such as customer reviews, industry reports, or benchmarking studies. Lastly, draw the value curves of the competitors on a graph with different colors, shapes, or symbols to distinguish them. You can also draw your own value curve to show how you want to position yourself in the market.

3 How to use the Strategy Canvas for operational planning?

The Strategy Canvas can be a great tool for operational planning. It can help you identify your strategic goals and priorities by comparing your value curve with the competitors. This analysis can then be used to allocate resources and design processes based on the factors that are important to customers and differentiate you from the competitors. Additionally, the Strategy Canvas can be used to monitor progress and performance, as well as track changes in the market and customer preferences in order to maintain a competitive edge. Ultimately, it can help you adapt to new opportunities and threats.

4 What are the benefits of using the Strategy Canvas?

The Strategy Canvas has several benefits for operational planning, such as providing a clear visual representation of the market and the competitive landscape. It encourages creative and analytical thinking, allowing you to challenge assumptions and explore new possibilities. Additionally, it facilitates communication and collaboration, enabling you to share insights and ideas with your team and stakeholders while receiving their feedback and input.

5 What are the limitations of using the Strategy Canvas?

The Strategy Canvas can be a useful tool for operational planning, however it may not capture all the nuances and complexities of the market and customer needs. It may also not reflect the dynamic and changing nature of the market and customer behavior, which can lead to it becoming outdated or inaccurate over time. Additionally, it does not guarantee success or sustainability as it may not account for external and internal factors that can affect performance and viability.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?