Having Trouble with Your Strategy? Then Map It (HBR OnPoint Enhanced Edition)
by Robert S. Kaplan, David P. Norton
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Book Summary Information
Author: David P. Norton, Robert S. KaplanEdition: Digital
Format: Download: PDF
Published: 2000-10-01
ISBN: N/A
Number of pages: 13
Publisher: Harvard Business Review
Book Reviews of Having Trouble with Your Strategy? Then Map It (HBR OnPoint Enhanced Edition)
Book Review: Mapping Strategy
Summary: 5 Stars
The authors of this article have used an extension of their ground breaking work "The Balanced Scorecard, Translating Strategy into Action" to come up with strategic map template to translate strategy into action. The balanced scorecard measures a company's performance from four perspectives namely financial, customer, internal processes and learning and growth.
The strategy map is a visual framework which embeds the different items in an enterprise's balanced scorecard into a cause and effect chain, connecting desired outcomes with drivers of those results. The authors developed a standard template that companies can use to develop their own strategy maps. The template contains four regions that correspond to the four perspectives of the balanced scorecard namely financial, customer, internal processes and learning and growth. The template provides a common framework and language that can be used to describe any strategy. A strategy map allows an organization "to describe and illustrate, in clear and general language, its objectives, initiatives, and targets; the measures used to assess performance; and the linkages that are the foundation for strategic direction."
Strategy maps are particularly critical in the information age where businesses must create and deploy intangible assets such as customer relationships, information communication technologies, employee skills and knowledge and an innovative problem solving corporate culture. The strategy maps enable organizations to describe and value these critical intangible assets that are major sources of competitive advantage.
I enjoyed reading this article as it is very practical and uses a visual template which is simple and useful to any organization, enabling employees to understand the company's strategy and how they can play their part in implementing it. I recommend it to managers and students of strategic planning. For those who have studied the balanced business scorecard, this is a natural follow up which they should find very interesting and which they can implement in their organizations.
Summary of Having Trouble with Your Strategy? Then Map It (HBR OnPoint Enhanced Edition)
If you were a military general on the march, you'd want your troops to have plenty of maps--detailed information about the mission they were on, the roads they would travel, the campaigns they would undertake, and the weapons at their disposal. The same holds true in business: a workforce needs clear and detailed information to execute a business strategy successfully. Authors Robert Kaplan and David Norton, cocreators of the balanced scorecard, have adapted that seminal tool to create strategy maps. Strategy maps let an organization describe and illustrate--in clear and general language--its objectives, initiatives, targets markets, performance measures, and the links between all the pieces of its strategy. Using Mobil North American Marketing and Refining Company as an example, Kaplan and Norton walk through the creation of a strategy map and its four distinct regions--financial, customer, internal process, and learning and growth--which correspond to the four perspectives of the balanced scorecard. The authors show how the Mobil division used the map to transform itself from a centrally controlled manufacturer of commodity products to a decentralized, customer-driven organization.This is an enhanced edition of HBR article R00509, originally published in September/October 2000. HBR OnPoint articles save you time by enhancing an original Harvard Business Review article with an overview that draws out the main points and an annotated bibliography that points you to related resources. This enables you to scan, absorb, and share the management insights with others. If you were a military general on the march, you'd want your troops to have plenty of maps--detailed information about the mission they were on, the roads they would travel, the campaigns they would undertake, and the weapons at their disposal. The same holds true in business: a workforce needs clear and detailed information to execute a business strategy successfully. Authors Robert Kaplan and David Norton, cocreators of the balanced scorecard, have adapted that seminal tool to create strategy maps. Strategy maps let an organization describe and illustrate--in clear and general language--its objectives, initiatives, targets markets, performance measures, and the links between all the pieces of its strategy. Using Mobil North American Marketing and Refining Company as an example, Kaplan and Norton walk through the creation of a strategy map and its four distinct regions--financial, customer, internal process, and learning and growth--which correspond to the four perspectives of the balanced scorecard. The authors show how the Mobil division used the map to transform itself from a centrally controlled manufacturer of commodity products to a decentralized, customer-driven organization.
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