A strategy map is a visual tool that helps organizations to communicate their strategies, direction, and priorities in a clear and concise manner . It is a powerful strategic planning method that shows the cause-and-effect relationship between the components of an organizational strategy . The technique of strategy mapping is designed to help a management team explore and discuss the strategy in more detail than they normally would. It helps develop highly effective strategies that can actually be implemented .
A generic strategy map focuses on four strategic perspectives: financial, customer, internal processes, and learning and growth . It is a simple graphic that shows a logical, cause-and-effect connection between strategic objectives (shown as ovals on the map) .
Here are the steps to creating a strategy map :
1. Defining Mission and Vision
2. Understanding Your Environment
3. Defining the Strategy
4. Translating the Strategy
5. Highlighting the Cause and Effect Relationships
6. Showing Themes in Your Strategy Map
7. Cascading the Strategy Map
You can learn how to create a strategy map using a template provided by Creately . They have also added strategy map templates, which you can use to get a headstart on designing your strategy map .