Strategy mind-map: how to use and practical implications

Abstract

There are multiple tools used by executives for formulation and execution of company's business strategy. In this paper, mind-map tool is explained and used to demonstrate how executives can think about their company's strategy. Using strategy as açentral idea' and through ilustration, the paper suggests seven different factors that are critical for strategy formulation. The seven criteria are discussed in detail and practical implication of each is summarized.