A brief background of strategy maps
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A brief background of strategy maps
As businesses become more complex and diverse, the apparent need to strategize and manage the business goals in a long term perspective gains prominence.
Achieving the long term objectives and facilitating the compliance of policies, as conceptualized by the management requires a clear understanding of the business goals and the approach to be followed; and this is where Strategy Maps come into the picture.
In its simplest form a strategy map can be considered as a pictorial representation of an organization’s plans and its approach in a cause and effect relationship.
It essentially offers an elegant way to communicate to stake holders how the organization hopes to achieve its long term goals taking into view four key viewpoints namely financial perspective, customer perspective, internal perspective and learning and growth perspective.
