S P OT LI G H T
PLAYBOOK FOR SUCCESS
Strategy Mapping
in the Game of Business
You’ve recruited a strong team, provided motivation and resources, and shared your vision for success.
So why has growth stalled and morale plummeted? The solution might be as simple as drawing a diagram.
Learn how strategy maps and scorecards can help you clarify your goals and show your team how to
work together to turn objectives into results.
A
coach would never send his team into a game without
the playbook of unique strategies that will drive key
Your financial objectives should also be specific and
players across the goal line. As a business owner, your job is measurable and must contribute to the overarching goal of
not much different. Whether sketched on a napkin or formal- your organization. More advanced strategy maps subdivide
ized using proprietary software, mapping your business
strategy will help your team visualize how certain incre-
mental actions move them toward specific goals.
Organizations need business tools that not only commu-
nicate goals but also provide clear plans for achieving those
goals. Strategy mapping, along with scorecards that measure
effectiveness, shows these connections through the lens of four
this perspective into two tracks: Revenue Growth (new
markets, products, and customers; deeper relationships and
value for existing customers) and Productivity (reduced
expenses; improved efficiencies). A balance of these two
tracks can give your strategy a more robust approach.
Î Î CUSTOMER PERSPECTIVE
key perspectives: financial, customer, internal process, and Identify the objectives related to your customers that will
learning and growth. Much like the incremental plays that push directly influence your financial objectives. Choose one of the
a football team toward the goal line, the objectives you assign following value propositions to inform your customer objec-
to these four areas will create a cause-and-effect chain where tives and use the remaining two as supporting standards:
each objective and corresponding action informs the next.
Ready to build your strategy map? Here’s how it works:
VISUALIZE THE GOAL LINE. Identify the ultimate
goal of your business strategy. Although you can incorporate
elements of your mission statement, this objective should be
more specific and measurable. Many organizations cite an
increase in shareholder value as their overriding strategic goal.
ASSIGN OBJECTIVES. Keeping your goal in mind, assign
objectives (or smaller goals) to each of these four perspectives:
12
Î Î FINANCIAL PERSPECTIVE
OPERATIONS: Your company’s performance and cost effi-
ciencies set it apart from competitors.
OFFERING: Your product or service performs better
than competitors’ and offers functions and features far
superior. You will continue to innovate to develop new
products and services.
RELATIONSHIP: You know your customers, engage with
them, and provide better service and solutions than others in
your industry. You also have plans to penetrate new markets.
SNB.COM // CONNECT STRATEGY SPRING 2019 // RANKED ONE OF FORBES' BEST BANKS OF 2019