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Questions and Answers
Which of the following is NOT a mandatory Blue Ocean tool for the Blue Ocean Student Entrepreneur Competition?
Which of the following is NOT a mandatory Blue Ocean tool for the Blue Ocean Student Entrepreneur Competition?
- ERRC Grid
- Strategy Canvas
- Four Actions Framework (correct)
- Buyer Utility Map
What does the As-Is Strategy Canvas aim to describe?
What does the As-Is Strategy Canvas aim to describe?
- Competitor strategies
- Blue ocean scenario
- Future industry landscape
- Current industry landscape and red ocean scenario (correct)
What is the main purpose of using the Buyer Utility Map?
What is the main purpose of using the Buyer Utility Map?
- Lower the cost structure
- Identify potential noncustomers
- Create exceptional utility for the buyers
- Discover hidden pain points in an industry (correct)
How does the Three Tiers of Noncustomers differ from focusing on existing customers?
How does the Three Tiers of Noncustomers differ from focusing on existing customers?
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What is the purpose of the Eliminate-Reduce-Raise-Create (ERRC) Grid?
What is the purpose of the Eliminate-Reduce-Raise-Create (ERRC) Grid?
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What is the key advice given regarding the use of Blue Ocean tools in the competition?
What is the key advice given regarding the use of Blue Ocean tools in the competition?
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