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Strategy Mapping
Please title Case 4 I attached Previous 3 Papers (Case1-3) Explain process strategy mapping relates performance management establishing propositions. You discuss theoretically Glacier Inn case study presented Armitage Scholey (2009) document readings serve integrating ideas.
Strategy mapping, performance management and establishing value propositions
Virtually all organizations today have some sort of defined 'strategy' which they are ostensibly attempting to put into action -- but merely articulating strategy is not enough. Executing the strategy is the critical often-forgotten element. Following through, organizations often face roadblocks, both internal and external. A strategy map sets "appropriate overriding objectives in a corporate setting" and is intent upon "establishing a dominant value proposition that will set the direction for achieving those objectives, and "using that proposition to guide the selection of critical financial, customer, internal process, and learning and growth strategies" (Armitage & Scholey 2006: 4).
Analysis
Although strategy mapping shares many similarities with a traditional Balanced Scorecard approach, it more explicitly ties specific actions to fulfilling the entity's value proposition. The strategy map renders the...
The compressed nature of the strategy map also demands a very concrete approach to defining strategy. For example, the first step of defining an overriding objective demands that the organization establish a concrete goal such as increasing share price, revenue, or sales. Only then does the company develop its value proposition, whether this is based upon price, uniqueness or relationship-driven attributes (Armitage & Scholey 2006: 11). Distinction from the competition is essential. Once the organization knows what it is offering to customers that no other organization can, it can choose appropriate financial strategies to achieve those objectives while still remaining solvent, whether it is to be a 'first mover' like Apple and to capture a significant segment of the marketplace with high-priced, high-quality items or a strategy primarily based upon volume sales and relatively low profit margins on items (such as discount merchandizer Wal-Mart) (Armitage & Scholey 2006: 15). Critically tied to the financial strategy is the customer strategy -- either to maximize the amount of money derived from existing customers through providing additional services (once again, Apple is noteworthy in terms of how…
Reference
Armitage, H., Scholey, C., (2006). Using strategy maps to drive performance. Society of Mgt.
Accountants of Canada. Retrieved from:
http://www.cimaglobal.com/Documents/ImportedDocuments/Tech_MAG_Strategy_Mapping_March07.pdf
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