The Process Of Strategy Mapping

1461 Words Nov 25th, 2014 6 Pages
The process of strategy mapping
Introduction
A Balanced Scorecard is a framework that assists in the implementation of a strategy performance management tools within an organization. However, deciding what activities and outcomes to monitor is a common challenge faced in developing a balanced scorecard. The strategy map assists in solving the problem by providing a simple visual representation of the strategic objectives to be focused on. Additional visual cues are used to represent perspectives while arrows are used to represent causes for the actions during the implementation process. Therefore, the strategy map is a device used to communicate a strategy. Glacier Inn is a hotel In Northern Minnesota, where most of the structures and rooms are fully furnished with ice. Despite having an occupation of 91%, the hotel could not meet its financial and operation results. Therefore, the owner of the hotel decided to strategize on the way forwards= to ensure that the unique venture starts operating profitably. The business owner decided to try Balance Scorecard and a strategy map to carry out the strategy that will make the hotel profitable again. This essay describes the processes of process of strategy mapping using Glacier Inn hotel as a case study.
Specifying on the Overriding Objective
The first step in developing a strategy map is to choose the most important objective by looking at the goal and mission of the company. This does not however mean that the mission and vision…
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