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Modeling Cause and Effect Relationships of Strategy Map Using Economic and Social Performance Factors in the Organizational Culture

Author

Listed:
  • Jana Hornungová

    (Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 61200, Brno, Czech Republic)

  • Kateřina Petrová

    (Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 61200, Brno, Czech Republic)

  • František Milichovský

    (Department of Economics, Faculty of Business and Management, Brno University of Technology, Kolejní 2906/4, 61200, Brno, Czech Republic)

Abstract

The paper deals with the possibility to use a strategy map as a tool for the management of a company's strategy. The objective of the paper is to introduce performance factors that are included in the map, playing an important role in the evaluation of economic and social indicators. According to defined factors we stated the performance model with a focus on three important corporate perspectives such as economic, working environment, and the local community. These perspectives are considered such an important part of the strategic management of the business and can help an organization to define and assess progress towards the attainment of its objectives. The introductory part of the article presents the reduction of economic and social factors of performance and further uses this information to draft a strategy map, specific to the chosen sector. Establishment of causal link schemes among the individual strategic objectives, mutually linked and influencing each other, leads to the confirmation that the success of the strategy depends on many factors.

Suggested Citation

  • Jana Hornungová & Kateřina Petrová & František Milichovský, 2020. "Modeling Cause and Effect Relationships of Strategy Map Using Economic and Social Performance Factors in the Organizational Culture," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 68(3), pages 613-624.
    • Handle: RePEc:mup:actaun:actaun_2020068030613
    DOI: 10.11118/actaun202068030613
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    References listed on IDEAS

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