Connecting business value and strategy: Using balanced scorecard

`Strategy' seems to be the most common and intricate word in business world. This paper tried to use Balance Scorecard and Strategy Map to build a new model, which mainly focused on the role of business's core value in strategic process. In the model, business value should be the guideline to set the direction of business's competitive strategies, and the functional strategies like marketing, human resource and manufacturing. The business value also helps to build the key success factors and then direct the execution of business strategies. Finally, the result of business execution and evaluation would feedback and adjust the core value of business. This paper also takes Starbucks as example to test the model. By building and applying the model, we can define Starbucks as a very good system which links business value, strategy and execution well.