6-7 minutes<\/p>\n
A strategy map developed by Robert S. Kaplan and David P. Norton as part of their Balanced Scorecard framework for strategic planning and management. A strategy map is a visual representation of a company\u2019s overall objectives and how they relate to one another on a single page. It\u2019s great for quickly communicating big-picture objectives to everyone in the company.<\/p>\n
With a well-designed strategy map, every employee can know your overall strategy and where they fit in. It helps keep everyone on the same page, and it allows people to see how their jobs affect the company\u2019s strategic objectives. Your company can be benefited from Strategy Map which includes:<\/p>\n
It provides all the relevant information for decision making in a one page document<\/p>\n
It improves communication of the organization\u2019s Vision and Strategy<\/p>\n
It help to identify and link together the critical internal processes, human resources, information that deliver the value proposition of the company<\/p>\n
It prioritizes action items in the implementation roadmap in tough economic times, if it is used together with balanced score card<\/p>\n
A Strategy Map describes your strategy and tells your story of your strategy. It shows, visually, how you expect to create value in the organization for your customers. It describes what you believe will drive change by providing a simple visual representation of the strategic objectives to be focused on in the form of the perspectives and causal arrows. The strategy map has been found useful in enabling discussion within a management team about what objectives to choose, and subsequently to support discussion of the actual performance achieved. We can develop a strategy map based on the following key concepts and guiles:<\/p>\n
Edit this Diagram<\/p>\n
A strategy map put all goals across the four key business perspectives on a single page which encourages everyone to see the cause and effect relationship between them.<\/p>\n
You can develop the four perspectives by deriving the answers for the following questions:<\/p>\n
Financial : the financial results and survival<\/p>\n
Customer : what the customers want or need Question : To achieve the financial objectives, what customer need must be met?<\/p>\n
Internal Processes: the internal organization and processes that deliver the customer needs<\/p>\n
Learning and Growth : the training, technology and knowledge needed to operate the processes or procedures successfully<\/p>\n