Abstract
One of important aspects of strategic management is the instrumental aspect included in a rich set of methods and techniques used at particular stages of strategic management process. The object of interest in this study is the development of views and the implementation of strategy as an element of strategic management and instruments in the form of methods and techniques. The commonly used method in strategy implementation and measuring progress is Balanced Scorecard (BSC). The method was created as a result of implementing the project “Measuring performance in the Organization of the future” of 1990, completed by a team under the supervision of David Norton (Kaplan, Norton 2002). The developed method was used first of all to evaluate performance by decomposition of a strategy into four perspectives and identification of measures of achievement. In the middle of 1990s the method was improved by enriching it, first of all, with a strategy map, in which the process of transition of intangible assets into tangible financial effects is reflected (Kaplan, Norton 2001). Strategy map enables illustration of cause and effect relationship between processes in all four perspectives and performance indicators at the level of organization. The purpose of the study being prepared is to present methodical conditions of using strategy maps in the strategy implementation process in organizations of different nature.
Highlights
Strategic management is regarded to be the youngest concept in the management science it has over forty years
One of important criteria of characteristics of strategic management process is looking through two perspectives that have developed on the ground of management sciences: mechanistic perspective and organic perspective
Methodical aspects of applying strategy map in an organization of treating strategic management as a process consisting of two basic phases; strategic planning and implementation, the latter has a strategic dimension and means effective putting the strategy to life namely execution of assumptions of strategic plan, adjustment of organizational structure and information – decision-making processes
Summary
Strategic management is regarded to be the youngest concept in the management science it has over forty years. One of important criteria of characteristics of strategic management process is looking through two perspectives that have developed on the ground of management sciences: mechanistic perspective and organic perspective. It had an impact on presentation of both the strategy. In mid 1990s the method was improved by enriching it, first of all, with a strategy map, in which the process of transition of intangible assets into tangible financial effects is reflected (Kaplan, Norton 2001) Both BSC and strategy map have an interdisciplinary nature, which enables their use in organizations following different values and focused on different goals. The purpose of the study being prepared is to present methodical conditions of using strategy maps in the strategy implementation process in organizations of different nature
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have