Scenario-based strategy maps
AbstractStrategy maps are designed to help execute strategy and bring predictive qualities to key performance indicators by linking them according to perceived cause-and-effect relationships. However, in our experience strategy maps are often extrapolations of past performance and are seldom sufficiently linked to possible future states. In this article, we argue that scenario analysis could play an important role in the design of strategy maps, as it is an effective method to look at the future. Through the development of scenarios, organizations can think creatively about possible discontinuous future states and can prepare themselves for multiple plausible futures, not only the one they expect to happen. Therefore, scenario-based strategy maps could enable organizations to face strategic uncertainty in a more effective way and make them more sustainable in the longer term. This article highlights the strengths and weaknesses of strategy maps and scenario analysis, and outlines a method to develop scenario-based strategy maps both in theory and by presenting a significant example.
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Bibliographic InfoArticle provided by Elsevier in its journal Business Horizons.
Volume (Year): 53 (2010)
Issue (Month): 4 (July)
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Web page: http://www.elsevier.com/locate/bushor
Performance management Strategy maps Scenario analysis Performance measurement;
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- Norreklit, Hanne, 2003. "The Balanced Scorecard: what is the score? A rhetorical analysis of the Balanced Scorecard," Accounting, Organizations and Society, Elsevier, vol. 28(6), pages 591-619, August.
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