Strategic Map Guide: 8 Steps to Create a Strategy Map + Common Mistakes

Name: Strategic Map Guide: 8 Steps to Create a Strategy Map + Common Mistakes
Uploaded: 2023-07-07 20:17:06
Description: Creating a strategy map can help organizations effectively discuss and implement their strategy by challenging traditional perspectives, defining strategic objectives, using performance and outcome metrics, and cascading the map throughout the organization.

This article is a summary of a YouTube video "Guía de mapas estratégicos: 8 pasos para crear un mapa de estrategia + 8 errores típicos" by BSC Designer

TLDR Creating a strategy map can help organizations effectively discuss and implement their strategy by challenging traditional perspectives, defining strategic objectives, using performance and outcome metrics, and cascading the map throughout the organization.

Key insights

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Having a strategy map, like a visual image on a single page, makes discussions about strategy much more effective compared to lengthy documents.
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The video provides eight steps to follow and highlights eight common mistakes to avoid when creating a strategy map.
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Challenging the traditional perspectives of finance, customers, internal business processes, and learning and growth can help organizations identify the most important objectives they should focus on.
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The perspective of innovation is crucial for companies to understand and explore new ways to provide value to their customers and improve their products.
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When defining business objectives for a strategy map, it is important for them to be strategic rather than operational and to support each other in a cause and effect relationship.
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Having both performance metrics and outcome metrics is crucial in creating a strategy map, as performance metrics measure actions taken towards achieving a goal, while outcome metrics validate the results achieved.
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Cascading the strategy map to different levels within the organization ensures that each department has a localized version that resonates with their specific challenges, making it easier for them to define relevant response plans and contribute to strategic execution.
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Analyzing customer needs and results can provide valuable insights for increasing financial goals, serving clients better, and developing better products.