Building and Using Strategy Maps Translating the Strategy to Operational Terms by Using Strategy Maps
Building and Using Strategy Maps Translating the Strategy to Operational Terms by Using Strategy Maps

Summary/Abstract: The Balanced Scorecards are used for describing a strategy in modern organizations and for measuring the results of implementing that strategy. For creating balanced scorecards we use strategy maps. The Balanced Scorecard provides a new framework to describe a strategy by linking intangible and tangible assets in value-creating activities. The balanced scorecards can use strategic maps of cause-and-effect linkages to describe how intangible assets, combined with other assets, both tangible and intangible, create value-creating customer value propositions and desired financial outcomes. A strategy map can be defined as a logical architecture that defines a strategy by specifying the relationships among shareholders, customers, business processes and competencies. Strategy maps provide the foundation for building balanced scorecards linked to an organization’s strategy.

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