History of balanced scorecard strategy maps stratex hub. Take a look at these six strategy map examples for inspiration. Kaplan and norton argue that the most critical aspect of strategyimplementing it in a way that ensures sustained value creationdepends on managing four key internal processes. The strategic perspective that kaplan and norton have developed is very valuable. A complete strategy map template including examples. Although the previous book of kaplan and norton already spent 64 pages on strategy maps, you can find the best and most comprehensive treatment of them including lots of examples in the book on the right.
Even if the strategy map is a tool for expressing concrete strategy, it is also an instrument of information within the organization. Strategy map page 5 building strategies and strategy maps pages 7, 8 ibms complete customer solution page 8 by robert s. Since this first incarnation kaplan and nortons thinking has moved on, and the perspectives are now organised in a sequence hence the map idea. Since this first incarnation kaplan and norton s thinking has moved on, and the perspectives are now organised in a sequence hence the map idea. The objectives on the strategy map are arrayed across two or more horizontal bands, and each band is known as a perspective. Then, in the strategyfocused organization, kaplan and norton showed. Barriers to strategy execution kaplan norton only 10 of organizations execute their strategy. Kaplan and norton argue that the most critical aspect of strategy implementing it in a way that ensures sustained value creationdepends on managing four key internal processes. The management dictionary covers over 7000 business concepts from 6 categories. This book will help you to stay out ofthe failed troops.
Then, in the strategyfocused organization, kaplan and norton showed how organizations achieved breakthrough performance with a. A complete strategy map template including examples we love strategy maps for their flexibility with various industries and strategies. Download sample strategy maps for a balanced scorecard sharepoint server 2010 from official microsoft download center. How strategy maps frame an organizations objectives. The balanced scorecard tool and strategy map offer a framework to measure intangible. Converting intangible assets into tangible outcomes. There are, however, several industry standard templates that can be used, not least of which is the kaplannorton balanced scorecard approach. Create local versions of the strategy maps with more specific goals and indicators. Strategy maps book strategy maps converting intangible assets into tangible outcomes robert s. The second reason is the lack of a standardized, consistent and comprehensive way to describe strategy. Strategy maps pages 7, 8 ibms complete customer solution page 8 by robert s. How can we ensure our strategy will succeed, especially in changing and uncertain times. This article also contains a downloadable and editable balanced scorecard template what is a balanced scorecard.
Download our strategy map template pack your single place for business strategy balanced scorecard and esm software group founders, drs. Norton is founder and president of the balanced scorecard collaborative in lincoln, massachusetts. More strategic management and corporate finance models. Get your kindle here, or download a free kindle reading app.
It provides tons of ideas on how to assemble the various components of the strategy map, as well as revisits the selection of overall strategy themes. A simple but powerful description of the strategy is a requirement for strategy to be implemented. The answer, as explained in strategy mapping for learning organizations, is to become a more responsive organization one that captures its strategy in strategy maps, learns from that strategy and can adapt to deliver results. Converting intangible assets into tangible outcomes kindle edition by kaplan, robert s.
If you do your first strategy map, these steps might sound like too much to assimilate. The adobe flash plugin is needed to view this content. The strategy map idea featured in several books and articles during the late 1990s by robert s. Kaplan and norton claim that this generic map reflects a generalization of their work with a large number of companies for whom they have developed specific strategy maps. Introduction to strategy maps a book by robert s kaplan. Read strategy maps converting intangible assets into tangible outcomes by robert s. Translating strategy into action harvard business school press, 1996. Converting intangible assets into tangible outcomes by robert s. Strategic management what youll learn in this summary which organizational processes are most critical for enhancing productivity. Although the previous book of kaplan and norton already spent 64 pages on strategy maps, you can find the latest, best and most comprehensive treatment of strategy maps including lots of examples in the book that is mentioned below. Download sample strategy maps for a balanced scorecard. To make the most of a strategy map we would suggest one or two additions to the basic template. Kaplan and norton transformed their balanced scorecard, in 1992 introduced in the. Before kaplan and norton, most academic strategy courses were dominated by the thinking of michael porter, who began by emphasizing the five forces model that suggested what external, environmental factors would change an organizations.
Figure 1 on the following page provides an overview of a strategy map. After reading you will understand the basics of this powerful strategy and performance management tool. A strategy map is a diagram that describes how a company or organisation can create value by linking strategic objectives in a cause and effect relationship. Strategy map financial perspective customer perspective internal perspective learning and growth perspective human capital information capital organization capital operations management processes customer management processes innovation processes regulatory and social processessupply production distribution risk management. Abstract click on the graph to download a big strategy map template in. Converting intangible assets into tangible outcomes book is not really ordinary book, you have it then the world is in.
Their original book in 1996, the balanced scorecard, translating strategy into action, contained diagrams which are later called strategy maps, but at this time they did not refer to them as such. Norton, guide our research and best practices so that you are fully equipped with the latest ideas in strategy execution. Since then, kaplan and norton have produced several other articles, a series of books, and a consulting company, all committed to elaborating the themes laid down in the initial balanced scorecard article. Download for offline reading, highlight, bookmark or take notes while you read strategy maps. Click on the graph to download a big strategy map template in. Kaplan and norton introduce the strategy maps to address this need. Kaplan is a professor at harvard university and david p. Kaplan and norton recently published strategy maps, the third book in their series. Converting intangible assets into tangible outcomes kindle edition by robert s. Use features like bookmarks, note taking and highlighting while reading strategy maps. Convert ing intangible assets into tangible outcomes. Download it once and read it on your kindle device, pc, phones or tablets. Learning and growth perspective management methods.
It is based on the four balanced scorecard perspectives. A strategic theme defines the process, intangible assets, targets, and initiatives required to execute a piece of the strategy on page 44 of the kaplan and norton, 2004b article, complete the objectives section of the strategy map by identifying one measureable objectives for each initiative illustrated in the four hr balanced scorecard. Then, in the strategyfocused organization, kaplan and norton showed how. For more information on the balanced scorecard, check out the intrafocus guide to the balanced scorecard. Its updated for 2020, and tells you all the basics in plain english. In a previous paper kaplan and norton 2001b, we described the role for strategy maps and balanced scorecards to develop performance. Organization, which, in turn, results from strategy maps and balanced scorecards. This video provides an example of a balanced scorecard with strategy maps. Developing a strategy map the process below illustrates the four stages in which a contemporary strategy map plus the scorecard and implementation plan are developed. Norton introduced the balanced scorecard, a revolutionary performance measurement system that allowed organizations to quantify. An example of a generic strategy map can be seen below. Related content and download information correct at time of download. Norton introduced the balanced scorecard, a revolutionary performance measurement system that allowed organizations to quantify intangible assets such as people, information, and customer relationships. It is a great read after you have read balanced scorecard and strategy focused organization.
Converting intangible assets into tangible outcomes kaplan, robert s. Converting intangible assets into tangible outcomes harvard business school press, 2004 is a sequel to their classic the balanced scorecard hbsp, 1996. Converting intangible assets into tangible outcomes english. Introduction to strategy maps a book by robert s kaplan and david p norton 1. Pioneered by robert kaplan and david norton also the founders of the balanced scorecard movement,strategy mapping is a cuttingedge approach to the art of strategy execution. Browse the definition and meaning of more terms similar to strategy map kaplan norton. How to understand a strategy map and the causeandeffect relation.
This download explains what strategy maps and bscs are, how to make them, and how you might use them. This is absolutely chock full of example and sample strategy maps. You can get started easier by using this free strategy wizard tool that will guide you through. A balanced scorecard shows a series of causeandeffect relationships that show how a.
The distinction is critically important to understanding this book. Norton harvard business school press the third volume of the balanced scorecard methodology. Have you considered catchball, the strategic communication technique. Commentary transforming the balanced scorecard from. Norton, have created a powerful new tool based on their ongoing research. In the balanced scorecard, as kaplan and norton explain in their preface, the balanced scorecard evolved from an improved measurement system to an improved management system. This is our short and simple guide to strategy maps.