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Which of the following is not connected with Blue Ocean strategy? *Value InnovationERRCGE 9 Box ModelStrategy Canvas

Question

Which of the following is not connected with Blue Ocean strategy?

  • Value Innovation
  • ERRC
  • GE 9 Box Model
  • Strategy Canvas
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Solution

The GE 9 Box Model is not connected with Blue Ocean Strategy.

Here's why:

  1. Blue Ocean Strategy: This is a marketing theory from a book published in 2005 which was written by W. Chan Kim and Renée Mauborgne. The concept is the simultaneous pursuit of differentiation and low cost to open up a new market space and create new demand. It is about creating and capturing uncontested market space, thereby making the competition irrelevant.

  2. Value Innovation: This is the cornerstone of blue ocean strategy. It is about making the competition irrelevant by creating a leap in value for both the company and its customers.

  3. Strategy Canvas: This is a central diagnostic tool and an action framework of blue ocean. It graphically captures, in one simple picture, the current strategic landscape and the future prospects for an organization.

  4. GE 9 Box Model: This is a matrix which is used by the GE company for talent management and succession planning. This has no direct connection with the Blue Ocean Strategy. It is used to evaluate the strength of a company's current portfolio of businesses. It is a framework that evaluates business portfolio divisions on the basis of the industry's attractiveness and the business unit's strength.

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