Blue Ocean Tools for Business Ideas

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Which of the following is NOT a mandatory Blue Ocean tool for the Blue Ocean Student Entrepreneur Competition?

Four Actions Framework

What does the As-Is Strategy Canvas aim to describe?

Current industry landscape and red ocean scenario

What is the main purpose of using the Buyer Utility Map?

Discover hidden pain points in an industry

How does the Three Tiers of Noncustomers differ from focusing on existing customers?

It targets potential noncustomers instead of existing customers

What is the purpose of the Eliminate-Reduce-Raise-Create (ERRC) Grid?

To describe a business's strategy

What is the key advice given regarding the use of Blue Ocean tools in the competition?

Use fewer tools very well

Learn how to use the Strategy Canvas, the Three Tiers of Noncustomers, and the Eliminate-Reduce-Raise-Create Grid effectively in the Blue Ocean Student Entrepreneur Competition. Register for the competition to receive access to the Blue Ocean Student Entrepreneur Mini-Course.

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