A strategy map is a tool that allows you to see your organization's strategy and objectives at a glance. It is designed to give you a clear overview of your entire strategy, so you can easily see how all the pieces fit together.
Strategy maps can help teams align their goals with the organization's strategy and mission. With a strategy map in place, teams can create an action plan and set actionable, relevant KPIs.
Strategy mapping is a technique that is often used in conjunction with the balanced scorecard (BSC) methodology. The BSC is a strategic planning tool that can be used to set goals for an entire team. Using strategy mapping in conjunction with the BSC can help ensure that the goals that are set are achievable and realistic.
3 benefits of creating a Strategy Map
The Strategy Map is a tool that can help to ensure that your team and organization are aligned with your overall strategy, goals, and the steps you are taking to achieve them. The strategy map is simple and easy to review, which makes it a great way to keep track of your top priorities.
Organization
One of the benefits of creating a strategy map is that it allows you to organize different perspectives, duties, and goals into a single, easily interpreted visualization of your business strategy. This can help you to accomplish your goals by forcing you to clarify them.
Communication
It is important that everyone understands the goals and objectives in order to create a successful strategy map. Communicating these goals will help ensure that the strategy map is successful.
Mission-alignment
The strategy map is a helpful tool to ensure that each team member understands how their goals and objectives fit in with the organization's goals and objectives. This way, team members can see the direct connection between their efforts and the organization's success.
How do you use a Strategy Map template?
There are some key components that need to be included in your strategy map, but there is no set rule on how to create it. For example, FigJam’s Strategy Map Template contains financial, customer, internal, and growth perspectives, so you can assess your strategy against all of these areas.
Follow these steps below to find how to define these perspectives and fill your Strategy Map Template:
Step 1: Decide on your productivity and growth perspectives
What are the financial implications of these two strategies? How will they affect your bottom line?
It is important to have a plan with measurable goals when working on a project. Having too many goals makes it difficult to track progress and communicate it to stakeholders. To make sure everyone is on the same page, make a list of goals and get buy-in from collaborators. Once goals are decided, add them to the strategy map.
Step 2: Customer perspective: product attributes, relationship, and image
Adopting your customer's perspective is key to success. How does your product or service differ from what is already available? What are the key differentiators that will help your customers?
Step 3: Internal perspective: operations and innovation
When you take the internal perspective, you're looking at your business from the inside out. This includes everything from customer management to regulatory processes. This is a great opportunity to tackle efficiency in your internal processes and how your business is working to reach absolute customer satisfaction.
Step 4: Growth perspective: resources
What's your plan for achieving what you proposed? What else do you need in terms of team development, resources, and process improvement? Reflect on how you can bring your team up to speed and ensure everyone has the skills and technology to grow. The strategy map can be used to answer questions from stakeholders about their roles and responsibilities, or to help plan a strategic meeting. The map can also be used when creating a strategy for the next quarter or year. Strategy maps can be helpful in brainstorming sessions, collaboration, training, and feedback.
