Question
The Strategy Map framework is a visual tool that aligns strategic objectives in a cause-effect relationship. It's different from other business strategy frameworks in several ways. For instance, SWOT analysis focuses on internal and external factors affecting the business, but doesn't provide a visual map of strategic objectives. Porter's Five Forces analyzes industry competition and doesn't focus on internal strategic objectives. Balanced Scorecard, while similar to Strategy Maps, includes performance metrics. However, Strategy Maps provide a more comprehensive view of the organization's strategy, showing how various components interact and contribute to achieving strategic objectives.
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WikiGear Inc. (WG) is a sportswear and casual apparel manufacturer and seller operating mainly in North America with a focus on hockey, baseball and running. To improve its operations and growth, WG hired a strategy consulting firm to study and provide insights on the company's strategic plans. The consultancy presented a comprehensive strategy map to the senior management team and highlighted two major areas that needed immediate action, namely, structure and communication. Taken together, the strategy map demonstrated both the resilient and adaptive drivers in the company's long-term strategy, which will enable WG to withstand and adapt to the disruptive and ever-changing demands of the marketplace.
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