Now we’re getting into the fun stuff. In part one of this series I had an overview of a few different management methodologies. In part two I introduced the balanced scorecard for healthcare. Now we are going to turn that balanced scorecard into a strategy map.
The balanced scorecard I showed you was not very focused, and this was on purpose since it was designed to show you a broad array of possible strategic objectives and key performance indicators. So in this strategy map we’ve tightened things up by focusing on fewer objectives and measures:
A strategy map is just a balanced scorecard with arrows drawn between objectives. This seemingly simple addition really changes the look and feel of the scorecard, because now we can see cause and effect. This allows us to track the creation of value in our organization, validate our business logic, and easily brainstorm how new objectives would fit in.
The next step is to break down the strategy map into processes that can be mapped. We’ll do that in part three!
This post is part 3 of 5: