A strategy map is:
A)A detailed flowchart outlining which firm managers are responsible for each implementation of a firm's strategy and when these implementations are to take place.
B)A cause and effect diagram of the relationships among the balanced scorecard perspectives to show how the achievement of critical success factors in each perspective affects the achievement of goals in other perspectives and the overall financial performance of the firm.
C)A framework for the firm to achieve a desired organizational change in strategy while mapping the successes of other firms within the industry.
D)A comprehensive framework of goals and measurable targets for executing those goals.

Question

Quizplus · Accepted Answer

A strategy map is a cause and effect diagram that illustrates the relationships between the different perspectives of the Balanced Scorecard framework (financial, customer, internal processes, and learning and growth), highlighting how the achievement of critical success factors in one perspective impacts the others and contributes to the overall financial success of the firm. It serves as a visual representation of the firm's strategy and helps align objectives and actions across the organization.

A Strategy Map Is