Title: Formulating the strategy map: case studies on SMEs in Thailand

Authors: Kongkiti Phusavat, Pensuda Jaiwong

Addresses: International Graduate Program in Industrial Engineering, Department of Industrial Engineering, Kasetsart University, Bangkok 10900, Thailand. ' International Graduate Program in Industrial Engineering, Department of Industrial Engineering, Kasetsart University, Bangkok 10900, Thailand

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.

Keywords: balances scorecard; BSC; strategy map; small and medium-sized enterprises; SMEs; Thailand; information integration; performance measurement.

DOI: 10.1504/IJMED.2008.015903

International Journal of Management and Enterprise Development, 2008 Vol.5 No.1, pp.1 - 17

Published online: 02 Dec 2007 *

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