Showing papers in "The Financial Executive in 2004"

How strategy maps frame an organization's objectives: in an excerpt from their new book, two noted authors on corporate management outline how organizations can mobilize and sustain their intangible assets for value-creating internal processes

Abstract: The strategy literature is uncommonly diverse. Scholars and practitioners have very different frameworks for strategy and don't even agree on its definition. While \"strategy maps\"--to be discussed in this article--and Balanced Scorecards can be developed for any strategic approach, we base our approach on the general framework articulated by Michael Porter, a founder and outstanding leader in the strategy field. Porter argues that strategy is about selecting the set of activities in which an organization will excel to create a sustainable difference in the marketplace. The sustainable difference can be to deliver greater value to customers than competitors, or to provide comparable value, but at lower costs than competitors. He states, \"Differentiation arises from both the choice of activities and how they are performed.\