This method follows on from doing a Value Exchange Ledger for your Business/Enterprise aka Value-based approach for enterprise strategy).
So you have identified the Value Elements you want for your current business focus. You might have had trouble coming up with just a few. What to do when there are many, and they seem to be related to each other in some way?
This is where Value Map for your Enterprise can be useful. It illustrates:
- which value is the input into or raw material for creating another form of value
- which value may be dependent on a chain of another value elements
- how value created at ‘the end of the line’, like financial value, can have many other forms of hidden value that informs or instantiates its creation.
Here is an example of a Value Map for the enterprise, Questo.
- Gather all the Business Owner Value Element Cards you chose.
- Prepare a description for each of the Value Elements. This description should be in words that are relevant to your enterprise. Write on a sticky note and append this to each card.
- On a large flat surface, organise the Value Element cards in relation to each other. Be sure to allow some space between each of the cards to add sticky notes on which you draw arrows, to show the flows in/out for each Value Element.
- Play around with the layout. Be open to insights and fresh perspectives that may emerge. There is no right or wrong answer – it only has to make sense to the business owners in its initial form. (It’s another matter about if and how you want to communicate this Value Map to other enterprise stakeholders.)
- Take a photograph to capture your ‘rough’ Value Map. If it makes sense to do so, then transfer the information to a nice digital form as illustrated in the image above.
- Add this artefact to your collection of strategic planning documentation.
- Share the map with key stakeholders to develop a shared understanding of the upstream/downstream flows of value creation in your enterprise.
For additional context, see where the Value (Creation Map) sits in Business Strategic Planning Architecture (PDF).
Your Enterprise Value Map could be extended to represent a consolidated view that includes Customer Value Elements and Employee Value Elements. Some colour coding can be useful when creating a digital consolidated version to show which group’s value is represented in the Value Map.
This work by Quello is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License so it can be freely shared with attribution to the creator (Quello); it cannot be used for commercial purposes; and it cannot be modified.