Building a strategy map for Khanh Hoa aquatic product processing enterprises

Abstract

Building a strategy map helps an enterprise to clearly describe and interpret the content of the strategy, making a premise for selecting key performance indicators (KPIs) and implementing the strategy based on new management models and modern strategic thinking in accordance with the Balanced Scorecard approach. We proposed three groups of strategies and built three following strategy maps: (i) strategy of developing high added-value products, (ii) strategy of ensuring the possibly lowest international outsourcing cost, and (iii) strategy of target customer orientation. This paper is intended as a contribution to change the old strategic thinking of Khanh Hoa aquatic product processing enterprises and help them to navigate and describe the strategy clearly and to develop sustainably in a globally competitive context.