This feature allows detailing in a document all the directions an organization has and should take in the future .
Certainly, it is a tool that allows direction, but care must be taken and it must not be fixed.
On the contrary, the strategic map allows the company the condition of always comparing the content that is on paper with what is happening in reality .
Thus, this exercise paves the way for reflection and closer monitoring of the entire growth process of a company . With this, strong foundations are built for any business to better monitor its management.
But do you really know what a company's strategic map is and how to draw up a strategic map?
What is a company's strategic map?
A strategy map is a document that describes an organization's vision , objectives, strategies and action plans . It is used as a means to structure and align all of the company's resources towards a common goal. A strategy map also provides a trail to track performance and helps identify and mitigate risks.
Over time, the strategy maps are revised and modified to accompany the development of the organization. In short, a strategy map is an essential tool for any company's strategic planning.
It is important to remember that a company's strategic map cannot be seen as a fixed document that must be followed blindly. It is necessary to always be attentive to the spontaneous and unpredictable opportunities that the path offers.
It is known, for example, that in nature and in business, those that evolve the most are those that best adapt to the constantly changing environment. This applies well when talking about strategy maps.
The biggest risk is creating a proposal that is a fixed and permanent destination.
Therefore, always follow your strategic planning and change when necessary, see how:
Why is the strategy map important?
A strategy map is essential to ensure you reach your professional goals. It doesn't matter if you are the leader of a large company or working alone, you need to have a map to guide the path you should follow.
A strategy map is simply an execution plan that outlines how you will achieve the goals you've set for yourself. It provides direction and focus for your journey, and helps you stay focused and motivated . Additionally, it allows you to set clear goals, create a strategy for achieving your goals, and determine how to measure your success.
This document is like a map of the roads you must travel to reach your destinations. Investing in a strategy map can help you improve your customer retention , create growth prospects , improve sales and manage your time more efficiently.
One of the most used methodologies for building the strategic map is the Balanced Scorecard . Know more:
How to draw up a strategy map?
Now that you know what the strategic map is and its importance for your company, it is important to understand how to prepare it.
Step 1: Identify the organization's objectives/goals:
The first step in establishing a successful strategy is to identify the organization's objectives and goals. What do we want to achieve? What are our goals for the coming months, years or decades?
Also, it's important to clarify how much time and resources we will need for each goal category. The strategy map should reflect these objectives and goals, offering direction so that resources are used in the best possible way.
By building a Strategy Map after identifying objectives and goals, organizations and companies can map the path to achieving success.
Step 2: Conduct a SWOT analysis of your organization/company
A SWOT (Strength, Weakness, Opportunity and Threat) analysis is an essential tool to pass judgment on the health of an organization/company and to identify potential strategic opportunities and threats.
By analyzing an organization/company's internal and external factors, such as capital structure , market trends , human talent or technological resources , you will be able to gain an in-depth understanding and develop a suitable approach to crafting your strategy map.
By integrating all these factors, you will be able to better visualize your efforts and create a path to achieve the organization's/company's strategic objectives.
Step 3: Structure your goals into categories and prioritize them
The third step in this process involves raising and structuring the objectives into major categories and prioritizing your objectives according to what is most important to the organization. To create a good strategy map, it is important to ensure that the objectives are mapped to the key areas of the organization, managing the priority levels of each objective.
Once the objectives have been defined, they must be segmented into key areas, so that you can identify which objectives are important to achieve the best results . For example, if your organization has 3 main areas: Marketing, Operations and Finance, you can divide your strategy map into 3 categories: Marketing objectives, Operations objectives and Finance objectives .
After separating the goals into categories, you need to prioritize each goal within those categories, ranking each of the goals based on urgency and importance.
This way, you can isolate the objectives that must be achieved first and, at the same time, ensure that strategic objectives are drawn for each area. This will allow you to establish clear guidelines for the teams and thus achieve the best results.
Step 4: Set goals for each priority objective
It is important that the goals defined for each priority objective in the Strategic Map are quantifiable and challenging. Each goal, defined as part of your strategic plan, should contain a value, timeframe, and associated key performance indicator (KPI).
Thus, it allows the results of actions taken to be monitored and measured, helping to assess whether the Strategic Map is being fulfilled. By mapping and putting into practice the goals of the Strategic Map, it is possible to establish true indicators of success for your company.
In this way, with good planning, it is possible to identify and monitor the main objectives of the strategy, allowing executives and company leaders to analyze the performance of the map .
Step 5: Create an action plan to reach your desired goals
The final step in a strategy map process is to create and implement an action plan. This plan will act as a guide for the actions and tasks necessary for the organization to realize its strategic objectives and reach the defined goals .
It is important that the action plan is clear, specific and developed in detail so that it can be applied in real situations. The action plan should contain information such as who should take the action, when the action should be taken, what the purpose of the action is and how to measure the performance of that action.
In addition, it is important to define a timeline for actions and identify the main responsibilities of each person involved. It is essential to create monitoring and evaluation mechanisms to verify that the action plan is being carried out as planned.
By determining the responsibilities of each individual, the chances of achieving the goals defined in the strategy map are considerably greater.