A strategy map is a visual summary of what a company plans to do in order to improve its business, gain more customers and improve its financial outlook.
Kaplan & Norton followed up their 1996 book on Balanced Scorecards with a couple of others, ‘The Strategy-Focused Organization’ in 2001 and ‘Strategy Maps’ in 2004.
In these they showed a method of linking Strategy to the Balanced Scorecard by showing the cause and effect linkages in one diagram – a Strategy Map.
A strategy map looks like a swim lane diagram but instead of departments the rows refer to the balanced scorecard categories. Thus it points to what needs to be done in each category to achieve the strategy.
In particular it can show the relevant linkages between NPD and company strategy, as per the example shown below.
If you want to discuss how Strategy Maps might help you to link your NPD efforts to your company strategy, then please contact us.