Strategy Mapping

Over the past 25 years, we have consistently worked worldwide, with some exceptional clients in Retail, Pharmaceutical, Animal Health, Banking & Insurance, Construction, Financial & Industrial sectors.

Business leaders in any situation understand that strategy is crucial for the success of their business. A great many methods, tools, and techniques have been developed by management experts to help business professionals devise their strategies competently.  

We also use many strategy techniques and instruments every day in our organizations according to the needs and demands of the current business situation. Every tool is distinct in its features and attributes.  

However, one particular tool is outstanding in its aptitude. This well-depicted visualization helps you and your team understand your business in a transparent, detailed and comprehensive manner. No other tool gives you that much precise insights about your company!  

This visualization tool is what we call a ‘Strategy Map.’ 

What is Strategy Map? 

The concept of ‘strategy maps’ was originated by Dr. Robert S. Kaplan and Dr. David P. Norton when they pioneered the idea of Balanced Scorecard in their book “The Balanced Scorecard, Translating Strategy into Action. “ So, before moving to strategy maps, it is essential to understand the balanced scorecard. 

What is Balanced Scorecard? 

A balanced scorecard is a measuring framework to evaluate the overall organizational performance by identifying internal and external operations. It highlights the four primary aspects of the organization including : 

• Finance
• Marketing
• Internal Processes
• Learning & Growth 

What is the connection between Balanced Scorecard and Strategy Maps? 

When organizations design balanced scorecard to analyze their performance and management system capabilities, they encountered a challenge in decision-making. There are numerous activities, operations, and outcomes in an organization which are necessary to monitor, but which activity should be monitored first and which later, is a difficult question to answer for every company. 

Strategy mapping took its birth in the shape of ‘diagrams’ that help in understanding the organization’s activities easily. 

It became a useful tool for managers to decide what objectives and strategies need to be focused and hence, selected. With the help of arrows and infusing the colours into the strategic goals, you can easily develop your company’s strategy map to get a clear vision of your performance through these objectives.  

What is the benefit of Strategy Maps? 

Following are the benefits that will depict the significance of creating strategy maps for the successful performance of an organization: 

1. It enables you to evaluate your organization’s performance on a single page and how you can increase it.  
2. It allows you to look deeper into the individual elements in creating the strategy and how these elements are related to each other.  
3. It helps you to identify the short-term objectives that will lead you to the development of the long-term strategies.  
4. It assists you in the clarification of different goals and tasks, enabling them to perform efficiently.  
5. It gives you a clearer path to realize the individuals’ roles and responsibilities in the organization.  
6. You can manage your risks and potential threats through strategy mapping. With the quick scanning of the map, you can detect your lacks, weaknesses, and issues to deal in advance.  
7. You can develop effective solutions relevant to your organization’s aims and objectives through strategy mapping.  

If you would like to know more about how we can support you & your organisation implementing Strategy Maps, then please call us on the details below.