Strategic Plan in a Greek Manufacturing Company: A Balanced Scorecard and Strategy Map Implementation

Konstantinos Anagnostopoulos

Abstract


<!-- /* Font Definitions */ @font-face {font-family:SimSun; panose-1:2 1 6 0 3 1 1 1 1 1; mso-font-alt:??; mso-font-charset:134; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:3 680460288 22 0 262145 0;} @font-face {font-family:"\@SimSun"; panose-1:2 1 6 0 3 1 1 1 1 1; mso-font-charset:134; mso-generic-font-family:auto; mso-font-pitch:variable; mso-font-signature:3 680460288 22 0 262145 0;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {mso-style-parent:""; margin:0cm; margin-bottom:.0001pt; text-align:justify; mso-pagination:none; font-size:10.5pt; mso-bidi-font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:SimSun; mso-font-kerning:1.0pt; mso-ansi-language:EN-US; mso-fareast-language:ZH-CN;} @page Section1 {size:612.0pt 792.0pt; margin:72.0pt 90.0pt 72.0pt 90.0pt; mso-header-margin:36.0pt; mso-footer-margin:36.0pt; mso-paper-source:0;} div.Section1 {page:Section1;} --> This paper aims to translate the strategy of a Greek manufacturing company into objectives and measures that can be clearly communicated to all units and employees. For this purpose two basic strategic tools are implemented, the Balanced Scorecard (BSC) and the strategy map. Based on the statements about mission, vision, and values of the company, and the strategic analysis, we formulate the strategy on four axes. The company’s strategy map is constructed using the four axes as strategic themes, and the four traditional perspectives of the BSC. Twenty eight objectives and thirty six measures are used, and nine departments are engaged to monitor the performance of objectives in order the company to achieve the determined targets. Finally, ten strategic initiatives are proposed that company must curry out to achieve the targeted performance of strategic objectives and measures.

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

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