BUS499C4 Strategy Mapping and the Learning & Growth Perspective

Strategy Mapping And The Learning & Growth Perspective
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Strategy Mapping and the Learning & Growth Perspective
Strategy mapping has revolutionized the way business strategies are formulated and executed. Such a revolution is associated with the success of using the balanced scorecard in making important decisions. Strategy mapping has raised many people’s awareness and gained popularity in establishing an integrated strategy scorecard system (Armitage & Scholey, 2006). Many companies have adopted this process, providing a better implementation framework. When it comes to actual implementation details, organizations have failed to find a detailed explanation or guideline that explains how to take advantage of strategy mapping(Armitage & Scholey, 2006).
Strategy mapping provides proper guidelines on how to implement practical strategies using a systematic process. It serves as a reference for any organization that wants some guidance on how to successfully achieve its strategic objectives. The organization can benefit by adopting a framework that will enable them utilize their resources(Armitage & Scholey, 2006). Coming up with a vigorous strategies is the most important business process, however the implementation process can hinder the organization from achieving the desired outcomes(Murby & Gould,2005).
An appropriate approach developed by Robert Kaplan and David Norton, who developed the balanced scorecard, is the strategy mapping, which helps in executing different activities to achieve the desired outcomes (Murby & Gould,2005). In this process, the organization describes its key objective using a graphical illustration. A well-constructed strategy map tells a story of the organization concisely, it illustrates a visual roadmap to follow and assist the organizations improve the probability of successfully implementing their business strategies(Murby & Gould, 2005). The most important process is to offer a systematic method that permits the organization builds effective strategy maps for better execution (Armitage & Scholey, 2006).
Strategy mapping is related to balanced scorecard, but strategy maps are unique as compared to balanced scorecards. Using strategy maps , organization can clearly describe and communicate with its key partners effectively (Armitage & Scholey, 2006). A well-crafted strategy map helps in aligning the organization function like planning, budgeting, monitoring, compensation and daily operations(Armitage & Scholey, 2006). Organizations can predict its outcome by enhancing its operation and increase its financial performance (Armitage & Scholey, 2006).
The Glacier Inn was established some years back in Northern Minnesota, the owner was convinced that they could adopt the similar strategy used at the Quebec Ice Hotel, which is a popular styled hotel because of its adventurous nature. As a result, the hotel partners invested in the new idea, securing a loan from state government and purchased a land near the main river (Armitage & Scholey, 2006). The land was construction site where ice was used as part of construction material.Glacier Hotel had the vision to become one of the ice hotels globally. I...