George would like to thank Michael Contrada from Palladium Group, Inc. for his helpful input to this column.Strategy management is comprised of three key components: strategy maps, performance scorecards and strategic initiatives. This column will explain the strategy mapping process and provide some guidelines for its implementation in different strategic contexts.
Strategy maps have joined the management lexicon. Like the balanced scorecard, the strategy map has become a standard tool used by businesses across the globe. Also like the balanced scorecard, it became famous both as a concept and as a body of practice and methodology in the writings of Drs. Robert Kaplan and David Norton.1,2
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