Cirque de soleil's shift from animals, candy and beverage concessionaires in the aisles, and feature performers to a live theater, operatic-style format exemplifies this type of value innovation eliminate.
The ERRC or Eliminate, Reduce, Raise, Create Grid is an essential tool of blue ocean strategy. It is developed by Chan Kim and Renée Mauborgne. It is a simple matrix-like tool that drives companies to focus on eliminating and reducing simultaneously, as well as on raising and creating while unlocking a new blue ocean. Innovation is creating a new process, service or product and also the action of improving. A main characteristic of an innovation is the differentiation from the preceding processes, services or products. Innovation is an important factor to improve the competitiveness of a country/company.
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