In the Mini MBA course I completed in February, we were given a whole lot of tips and tools to help build a strategy, develop ourselves as leaders and unlock opportunities in business.
One that stood out for me was the ERRC Quadrants – a handy tool that’s part of the Blue Ocean Strategy. The ERRC Quadrants can be used when you’re looking to create or evolve a new product or service, but just don’t know what sets you apart from your competitors, and how you can stand out in the crowd.
The quadrants help you home in on four elements so you can get a clear idea on what is working, what isn’t and what untapped opportunities you might be missing. They’re a great start for market research questions, or if you need to facilitate an internal discussion around new projects or ideas.
So next time you’re stuck with a business problem that you think needs reshaping or you think you have a great business idea, maybe the ERCC Quadrants might help you out!
Alex Williams