STRATEGY MAP Meaning and
Definition
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A strategy map is a tool used by organizations to visually articulate and communicate their strategic objectives, goals, and initiatives. It is a graphical representation that highlights the connections and relationships between various components of an organization's strategy. Essentially, it provides a roadmap that aligns the organization's mission and vision with specific actions and outcomes.
A strategy map typically consists of a series of interlinked boxes or nodes, each representing a different aspect of the organization's strategy. These nodes are connected by arrows, indicating the cause-and-effect relationships between them. The map typically includes four key perspectives: financial, customer, internal processes, and learning and growth.
The financial perspective focuses on the organization's financial goals and objectives, such as revenue growth, profitability, and cost management. The customer perspective highlights the value proposition and customer-focused outcomes that the organization aims to achieve. The internal processes perspective identifies the critical internal processes that drive customer satisfaction and financial performance. The learning and growth perspective highlights the organization's initiatives to develop its people, infrastructure, and capabilities.
Overall, a strategy map provides a comprehensive overview of an organization's strategy and serves as a visual tool to communicate and align everyone in the organization towards common goals. It helps to clarify the cause-and-effect relationships between strategic objectives and encourages coordinated actions and decision-making across all levels of the organization.
Common Misspellings for STRATEGY MAP
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Etymology of STRATEGY MAP
The term "strategy map" does not have a specific etymology as it is a combination of two common words: "strategy" and "map".
The word "strategy" originates from the Greek word "strategia", meaning the generalship or art of a commander. It entered the English language in the early 18th century, referring to the planning and execution of military operations. Over time, it expanded its meaning to encompass plans and actions for achieving specific goals in various fields, including business.
The word "map" has its origins in the Latin word "mappa", which originally referred to a cloth or table. In medieval times, "mappa mundi" meant a world map. Gradually, "map" developed into a term for visual representations of geographical areas. In a broader sense, "map" can refer to any visual representation, diagram, or plan of something.
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