Formulating the strategy map: case studies on SMEs in Thailand
by Kongkiti Phusavat, Pensuda Jaiwong
International Journal of Management and Enterprise Development (IJMED), Vol. 5, No. 1, 2008

Abstract: The study illustrates an approach designed to help formulate a strategy map for three Small and Medium Enterprises (SMEs) in Thailand. This study responds to an effort by senior management of these SMEs to explore a possibility of integrating information from performance measurement for a strategy-map formulation. These top executives have participated in many workshops on performance-based management and realise the importance of a strategy map for an effective management process. In this study, the Balanced Scorecard (BSC) is chosen as a basis for performance measurement. The data has been collected between January 2005 and June 2006. The strategy map appears to be useful and subsequently helps substantiate the approach's possible future use. Finally, the approach's technical difficulties are recognised.

Online publication date: Sun, 02-Dec-2007

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