A business can identify its unique factors by using tools like the Strategy Canvas. This tool allows businesses to plot their factors against their importance, and compare themselves to competitors. This can help them formulate a competitive strategy. They can also use the Blue Ocean Strategy framework to identify divergent value propositions. This framework helps businesses see what sets them apart from the competition in a saturated marketplace. Instead of competing in areas where others excel, they can allocate resources to what makes them unique.
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