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Clarifying the strategy using a strategy map and building a balanced scorecard to support strategy implementation - Case X Oy
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School of Business |
Master's thesis
Electronic archive copy is available via Aalto Thesis Database.
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en
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91+1
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Abstract
Strategy and its implementation play a central role behind a company’s operations and financial success, regardless of the company’s size, age or industry. Implementing a strategy requires a full understanding of one’s own strategy and operating environment. One of the objectives of the study is to clarify and increase understanding of the strategy and its requirements for the newly established Case X Oy. The objective is intended to be achieved by, among other things, identifying cause-and-effect relationships using a strategy map. Another objective is to build a monitoring tool, the balanced scorecard, which can be used to measure and monitor these key actions of the strategy.
Strategy is a multidimensional concept, and there is no single clear definition for it. The theoretical part of this study focuses on, among other things, different views of strategy, formation, cause-and-effect relationships and measuring the implementation of the strategy in the form of a balanced scorecard. The theoretical framework is applied to meet the needs of Case X Oy.
As a result of the study, a strategy map was created for the case company, which considers the company’s growth and profitability objectives. The focus of the strategy map is also the company’s perceived differentiation focus competitive strategy. Based on the strategy map, the balanced scorecard tool was derived. The balanced scorecard tool was built for the purpose of monitoring the implementation of the strategy.