A strategy map is:
A)A detailed flowchart outlining which firm managers are responsible for each implementation of a firm's strategy and when these implementations are to take place.
B)A cause and effect diagram of the relationships among the balanced scorecard perspectives to show how the achievement of critical success factors in each perspective affects the achievement of goals in other perspectives and the overall financial performance of the firm.
C)A framework for the firm to achieve a desired organizational change in strategy while mapping the successes of other firms within the industry.
D)None of the above.

Question

Quizplus · Accepted Answer

A strategy map is a visual representation that shows the causal relationships among the different objectives and key performance indicators of a firm's strategy. It provides a way to link the firm's vision and mission with the actions necessary to achieve them. Option B is the correct definition of a strategy map. Option A refers to a responsibility matrix, and Option C refers to benchmarking, neither of which accurately describes a strategy map. Option D is not the answer.

A Strategy Map Is