Essay Example | Topics and Well Written Essays - 1000 words - 140

Essay ExampleIt fills the gap by giving a set of frameworks that outlines how to execute dodging mapping in a systematic and pragmatical format. Strategy maps serve as a reference to the cardinal primary interest groups. Many companies argon searching for directions and guidance that will allow them implements their own lineups and maps (Armitage & Scholey, 2003, p. 76).The business world is faced with calamities in strategy from that not because the managers cannot come up with useful strategies but because there is a deficiency in the execution of this strategy. Research shows that seventy percent of the strategy failures arise due to poor performance but not because of poor vision or lack of smarts. Strategy maps refer to diagrams that are used to history the primary strategic goals followed by a management team or organization. Strategy maps are indispensable elements of the documentation related to the balanced scorecard. Additionally it is a feature of the second generat ion of balanced scorecard models that initially started in the mid-1990s (Armitage, 2004, p. 104). The initial diagrams were used early 1990s, and Drs discussed the concept of using this map in balance Scorecard. Robert Kaplan with David Norton. Strategy map gives out the visual guidelines for integrating a companys objectives in the four perceptions of a Balanced Scorecard. It represents the cause and effect relationships that connect specific abilities in human, organization capital and discipline with desired outcomes in financial and customer perspective (Scholey & Arnitage, 2004, p. 569).It is worth mentioning that Norton and Kaplan based their work on Michael ostiariuss expression of strategy. They chose a set of activities that a company would prosper to create a sustainable difference in the market, and therefore creating a lasting value for the shareholders. Arrows on strategy map depute cause and effect of a period, and each of this perspective is scrutinized in more de tail giving