Strategy Map and Balanced Scorecard: Two Distinct Models for managing Strategic Complexity and Performance. A Reflection from the Italian Context

Abstract

International literature often treats the Balanced Scorecard (BSC) and the Strategy Map (SM) as interdependent tools - or even as a single framework - frequently used interchangeably. This interpretation, widely disseminated through the influential work of Kaplan and Norton, considers the Strategy Map as a natural evolution of the BSC or even as one of its essential components.

This paper proposes a different and countercurrent argument: the SM and BSC are two distinct models, based on different theoretical foundations, with non-overlapping purposes and conditions of use.

The analysis, based on a critical review of the literature and empirical data from medium and large Italian companies, aims to demonstrate the conceptual and practical autonomy of the two models.

This paper thus offers a dual contribution: on the one hand, to clarify the distinct and autonomous nature of two, often confused, models; and on the other, to foster a critical reflection on Italian managerial practice, which still appears insufficiently oriented toward the articulation and communication of strategy.

In this respect, the contribution aligns well with the spirit of the special issue, as both objectives are inspired by the thought of Gianluca Colombo. His work has consistently emphasised the importance of understanding strategic complexity through dialogueue, communication, and negotiation among organisational actors. His focus on the discursive dimensions of management, the cognitive maps of entrepreneurs and managers, and the mechanisms of collective sense-making represent a key reference point for the argument presented here. As he often stated, strategy is not (only) a plan, but a conversational and interpretive process, in which multiple viewpoints must be integrated into a unitary, but not simplifying, vision. Empirical evidence, unfortunately, suggests that this awareness is still not widespread in many Italian firms.