Let’s take a look at what strategic mapping is, its purpose and its contribution to a dramatic reorientation from operational details to strategic intentions. Creating a map during the strategic planning process will help not only management, but entire companies and employees at all levels.
The concept of mapping strategies is not a new tool, but it was first introduced in the early 1990s with the introduction of the Strategic Maps template. Kaplan and Norton (1996) originally presented the concept of a strategy map in their book Balanced Scorecard: Implementation of the Strategy.
With a well-designed strategic map, employees can know the overall strategy and how they fit into the picture.
For small teams and businesses, their strategy may and will be different from large companies.
Strategy mapping requires each element to be a start-point and endpoint plan.
The strategic map also helps you evaluate the overall performance of your company while giving you the opportunity to delve deeper into the different components of your strategy if needed. It also facilitates the definition and communication of the company’s strategy/mission/vision/direction.
But what exactly is a strategic map?
It is one of the strategic planning tools.
- How to correctly identify your individual goals?
- How to ensure that they are balanced, interconnected with each other and with the mission (motto) of society?
A strategic map is a visual tool to help you work with priorities and their relationships. Each strategic map has a main 4 perspectives:
- Finance
- Revenue growth
- Productivity
- Customers
- Customer value design is key to the finance mission
- Customer’s privacy
- How to achieve financial and customer goals?
- Improving customer relationship (increasing value for the customer)
- Product management
- Operational excellence
- Processes
- Working on operational excellence
- Fostering growth through innovation and expansion
- Good relations with external partners
- Learning and growth
- Skills and knowledge of employees
The strategic map and its four levels help you better define what you want to achieve, identify key objectives. The map can also reveal intangible means that create strategic value (unique know-how, for example).
Benefits of strategic mapping
- Multi-level breakdown = creation of short-term tactics to achieve long-term goals
- Simpler delegation and analysis</li><li>Greater understanding and engagement
- Better risk management
From visualization to execution
- Define mission, vision, values
- Priorities + priorities in each perspective
- Specify business goals
- What are the priorities related to business objectives? And why did you choose these specific goals?
- By determining metrics and methodologies
- Implementation plans
You can use a lot of expert tools to create a strategic map, or even platforms offering cheap yet high-quality solutions. Personally, I always start with notes, with a pencil and paper, I choose the tool according to a specific case.
But one thing is certain, a strategic map is a tool, not a target. The goal is to achieve your goals connected to your mission, culture and within your environment, with subsequent growth. It is not possible to achieve goals that are disconnected from the priorities and vision of society.
Add a Comment