Modeling Cause and Effect Relationships of Strategy Map Using Economic and Social Performance Factors in the Organizational Culture

Abstract

The paper deals with the possibility to use a strategy map as a tool for the management of a company's strategy. The objective of the paper is to introduce performance factors that are included in the map, playing an important role in the evaluation of economic and social indicators. According to defined factors we stated the performance model with a focus on three important corporate perspectives such as economic, working environment, and the local community. These perspectives are considered such an important part of the strategic management of the business and can help an organization to define and assess progress towards the attainment of its objectives. The introductory part of the article presents the reduction of economic and social factors of performance and further uses this information to draft a strategy map, specific to the chosen sector. Establishment of causal link schemes among the individual strategic objectives, mutually linked and influencing each other, leads to the confirmation that the success of the strategy depends on many factors.

Keywords

• strategy map
• business strategy
• economic factors
• social factors
• factor analysis
• performance