Strategy Map Templates - Version 3
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A good strategy map should communicate everything a company is striving to achieve on a single page. Think about it, if your company is made up of only five people or is an enterprise of 5,000 people first and foremost you want them to know exactly what the company is about and what it is trying to achieve. What is more, your employees want to know that your company has ambition and plans and will be around for the long haul. They want to be sure that the leaders know what they are doing and are in control. They want to work in a winning environment and want to know their jobs are secure. One of the most powerful tools you have in your armoury is a strategy map (that and consistently winning profitable business, the two are inextricably linked).
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Strategy Map Templates - Version 3
- 1. The Strategy Map Presentation Templates
- 2. The Strategy Map • 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. • It is based on the four Balanced Scorecard Perspectives: Financial, Customer, Internal Processes and Learning & Growth. • The key element of the Strategy Map is that it is linked to the ‘scorecards’ that monitor the progress towards the Strategic Objectives. • The ‘scorecards’ will include: metrics, targets for the metrics and strategic initiatives to drive performance towards achieving the objectives.
- 3. The Balanced Scorecard • The Balanced Scorecard is a strategic planning and management method used to: • align business activities to a vision and strategy of an organisation • improve internal and external communications • monitor organisational performance against strategic goals. • The design of Balanced Scorecard concerns itself with: • the identification of a small number of financial and non-financial measures referred to as Perspectives • setting targets for the measures and then • measuring them on a regular basis to determine success or failure.
- 4. Strategy Map – Classic Kaplan/Norton Productivity Strategy Growth Strategy Financial Perspective Long-Term Shareholder Value Improve Cost Structure Customer Perspective Increase Asset Utilisation Expand Revenue Opportunities Customer Value Proposition Price Quality Availability Selection Function Service Product / Service Attributes Internal Perspective Enhance Customer Value Partnership Relationship Brand Image Operations Management Processes Customer Management Processes Innovative Processes Regulatory and Social Processes Supply Production Distribution Risk Management Selection Acquisition Retention Growth Opportunity Identification R&D Portfolio Design / Develop Launch Environment Safety and Health Employment Community Learning & Growth Perspective Human Capital Information Capital Organisational Capital Culture Leadership Alignment Teamwork
- 5. Strategy Map - Generic example Mission: Managing with greatness and strength, improving everything daily Vision: Leading with inspiration and courage, passionate about future possibility and change Financial Perspective Sustained Shareholder Value Productivity Strategy Revenue Growth Strategy Increase Asset Utilisation Improve Cost Structure Enhance Customer Value Expand Revenue Opportunities Customer Value Proposition Customer Perspective Price Quality Availability Selection Function Service Production Service Attributes Internal Perspective Partnership Relationship Brand Image Customer Management Processes Innovative Processes Regulatory and Social Processes Processes that produce and deliver products and services Learning & Growth Perspective Operations Management Processes Processes that enhance customer value Processes that create new products and services Processes that improve communities and the environment Human Capital Skills Training Knowledge Information Capital + Systems Databases Networks Organisational Capital + Skills / Training Knowledge Teamwork
- 6. Example with ‘Strategic Themes’ Financial Perspective Increase Shareholder Value Leader in defined Markets Add New Revenue Stream Customer Intimacy Customer Perspective Technology Driven Trusted Advisor Deliver Added Value Internal Perspective Build Lifelong Relationships Operational Excellence Consistently Exceed Expectations Flexible Solutions Satisfy All Needs Capture and Utilise Knowledge Build 3rd Party Relationships Learning & Growth Perspective Achieve profitability Deliver Complete Solutions Create Enterprise Solutions Integrate Business Processes Frequent Repeat Business Improve Resourcing Services Improve Solution Processes Effective Cost Mgmt Develop Relationship Skills Improve Solution Management Improve Operational Mgmt Skills Improve Industry Knowledge Engender Innovation More Successful Career Planning
- 7. Public sector example Stakeholder Perspective Value to Taxpayer Customer Perspective Safe Convenient Bus Services Internal Processes Perspective Relationship Management Streamline Regulatory Approval Processes Clear and Accurate Timetables Easy to do Business With Improve Sustainability of Communities Open and Frequent Communication to Impacted Customers Optimise Planning of Bus Stop Position and Construction Learning & Growth Perspective Highly Skilled Bus Drivers Support Business and Commerce Balance Budget Create Business Cases and Secure Funding On Time as Promised Innovation Drive Innovation in New Transport Systems Accelerate Economic Development through Route Investment Develop and Introduce New Transport Technology Understand New Route Needs (and Old) Empowered Customer Service Agents Lower Cost of Bus Transportation Services Operational Excellence Deliver World Class Bus Services Provide Cost Effective Solutions Optimise Availability of Busses Improve All Aspects of Bus Safety Integrated Knowledge Management Systems
- 8. Empty template Financial Perspective What are our most important financial outcomes? Customer Perspective How should we appear to customers? Process Perspective At what do we need to excel to fulfill customer expectations? Learning & Growth Perspective How will we sustain our ability to improve?
- 9. Focus on Internal Themes Financial Perspective Customer Perspective Internal Perspective Theme one Theme Two Learning and Growth Perspective Theme Three
- 10. Internal Themes + Vision and Mission Company VISON Statement Company MISSION Statement Financial Perspective Customer Perspective Internal Perspective Theme one Theme Two Company Core Value Statement Learning and Growth Perspective Theme Three
- 11. Internal Themes + Vision Vision: Financial Customer Internal Core Value: Learning and Growth
- 12. Internal Themes + Vision Vision Financial Customer Internal Learning and Growth
- 13. Internal Themes + Vision Vision Customers Productivity Risk and Capital Management Core Value: People
- 14. Internal Themes + Vision Vision Customers Productivity Risk and Capital Management Core Values: People
- 15. Template with Mission, Vision and Themes Mission: Strategic Themes Financial Theme One Strategic Objective 1 Strategic Objective 3 Customer Internal Learning Company Name Theme Two Strategic Objective 2 Vision: Theme Three
- 16. A Less Colourful Version Mission: Strategic Themes Financial Theme One Strategic Objective 1 Strategic Objective 3 Customer Internal Learning Company Name Theme Two Strategic Objective 2 Vision: Theme Three
- 17. A Slightly Different Approach Vision: Mission: Financial Internal Customer Learning
- 18. A More Radical Approach • This circular version is occasionally used to focus everything towards the mission and strategy, as a rally-call it works well. However it lacks in its ability to present causal linkages Mission Vision Mission Learning Internal Customer Financial • Tesco used this approach during their ‘Every Little Helps’ campaign
- 19. The Quickscore Application • Software is not required to implement a Strategy Map or Balanced Scorecard, but it does help. • A good software tool will allow user to: • create meaningful Strategy Maps with minimum fuss • organise key metrics in a meaningful way • display data and combinations of data • provide management teams with a clear business overview • allow users to input data easily and frequently • Provide the means to ‘drill down’ to the underlying data should the need arise to question a specific activity • Intrafocus recommends the Quickscore product to those companies that want to take a structured approach to rolling out Strategy Maps and Balanced Scorecards