Strategy maps Drive and Sustain Strategic and Operational Success.
"A good strategy well executed is better than a brilliant strategy poorly executed."
What gets Measured gets Done." It is a business axiom we have heard a thousand times. Short-term financial performance and productivity do not determine long-term success in a competitive marketplace.
Strategy deployment works if it is translated to everyone in the organization. Between 70% and 90% of strategic deployment plans end in partial or complete failure: the inspiring visioning session, the production of a glossy brochure which is endorsed by the executives followed by people who try to get on with doing real work. The strategic report finally gathers dust and the vision statement is tacked up on the wall begins to fade and nothing happens.
The mistake is jumping to the conclusion that strategy doesn’t matter. Research indicates that having the ability to execute strategy is more important than the strategy itself. It's common sense. A good strategy well executed is better than a brilliant strategy poorly executed.
“Strategy forms the plan and links together a series of actions which lead to organizational decision. These linkages describe strategy as a plan to move an organization to a clearly defined future state. The strategic plan is a hypothesis that describes a set of cause and effect relationships that are explicit and testable. A Strategy Map fills that gap by providing a simple method of describing a strategy and making explicit the cause and effect relationships that will lead to the fulfillment of the vision. It also provides a method of grouping major objectives by strategic theme.
The Strategy Map can develop explicit measures, targets and initiatives needed to produce the desired organizational result. Once the initial corporate map is constructed you can cascade the strategy to the various strategic business units and service support units.
“How can I support the corporate strategy?”
The business unit, in developing its own strategy asks “How can I support the corporate strategy? ” Because the cause and effect links are well defined, business unit leaders see how their actions are linked to the actions of others. They focus their efforts on supporting business unit goals, confident that those goals are linked to the overall corporate plan.
At the lowest level, team and even individual scorecards can be linked to the corporate strategy map. Everyone can see clearly how their work contributes to the achievement of the corporate vision.