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Sam
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Are Balanced Scorecard and Strategy Map the Same?
Does the strategy map tell the same story of Balanced Scorecard? Both of them are talking about these four perspectives.
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Dennis Webbers
Netherlands
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BSC and Strategy Maps
The strategy map concept was designed by the same authors (Kaplan & Norton) and is a more practical approach to combine the assets of an organisation to methods to create value. I find especially the visual aspect of strategy maps appealing.
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drix5
Student (University), Zimbabwe
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Differences Between Balanced Scorecard and Strategy Map
Strategy maps help clarify the strategy and the related strategic objectives, whereas balanced scorecards are used to establish metrics and targets to measure and manage the performance of the organization against those strategic objectives.
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GEOFFREY NYAMBANE
Manager, Kenya
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Strategy Maps and the balanced scorecard
A strategy map is a visual representation of the strategy and it's implementation plan at a high level. This represents the path the organization intends to take to achieve its objectives.
A BSC on the other hand breaks down this journey into specific periods and is easily linked to a budget for the period - it reflects the short term, usually a year, of the strategy.
The objectives in the BSC are micro in nature compared to those in the Strategy Map.
So while both show objectives and means, one is a subset of the other. The BSC is a subset of the strategy map.
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Chris Blackman