Research Paper (undergraduate) from the year 2008 in the subject
Business economics - Business Management, Corporate Governance, grade:
1,3, University of Applied Sciences Berlin (Master of Business
Administration), course: Strategic Management, language: English,
abstract: If you take the words of a former General Electrics (GE)
employee to define strategy, William E. Rothschild said, "What do you
want to achieve or avoid? The answers to this question are objectives.
How will you go about achieving your desired results? The answer to this
you can call strategy." This statement not only highlights the need for
strategy but also the need to bring strategy to fruition. Companies
should not only devise strategy but also successfully clarify and
execute their strategies. This means that a company has to be able to
measure its strategic success. Unfortunately, company strategy is not
always transparent or understood in the same way by a company's key
players. Sun Tzu, a Chinese military strategist who wrote the military
treatise The Art of War, praised this aspect for strategies in war as
follows: "All men can see these tactics whereby I conquer, but what none
can see is the strategy out of which victory is evolved". The Strategy
Map created by Kaplan and Norton is to facilitate corporate strategy
development and execution providing a missing link between strategy
formulation and strategy implementation by identifying the key internal
processes that drive strategic success and by aligning investment in
people, technology and organizational capital for the greatest impact.
The first part of the assignment describes in detail the theoretical
framework of Strategy Maps. The second part uses the theory to describe
and visualize the Strategy Map of General Electric Medical Systems
(GEMS) - the world's leading manufacturer of diagnostic imaging
equipment. This practical approach is based on the publication of Tarun
Khanna about GEMS in the Harvard Business School Press in
