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Strategic Maps

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Strategic maps
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A strategic map is a drawing which helps to describe the way an organization develops values by organizing its objectives and it documents the basic goals that an organization or the top management plans to peruse. The strategic maps convert assets which cannot be felt by touch, to results which are tangible and help in balancing scorecards. This document was first developed in 1990s which appeared in many books towards the end of the year. Strategic maps ensure success in strategies as they assist ass to better the management of our strategies, they also help in the communication of the strategy and also in capturing the strategies the opinions of ones teams in a more productive manner. They help us be sure of the future outcomes and avoid imaginary hopes.
The creation of a strategic map includes merging various factors and information on the same page so as to ease communication. The strategic maps show every objective as a text within a shape (in most cases, an oval or rectangle), less than 20 objects and a broad interconnection between the objectives as they are joined together or linked by the arrows. There are four major perspectives that are attended to by the strategic maps; learning and growth perspective, financial perspective, the clients’ perspective and internal business perspective (Meredith & Shafer 2013). The financial perspective aims at developing a long lasting value to shareholders and coming up from the production strategy of bettering the costs structure, it also aims at the expansion of opportunities and improving the value of customers.
The four elements of strategic maps get support from the branding, partnership, availability, quality, selection, functionality and service (Ogras et al 2005). The operations and customer management is taken care of by the internal business perspective, through service

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