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. | Phan Thi Xuan Huong & Tran Dinh Khoi Nguyen / Journal of Economic Development 22 (3) 123-140 123 Building a Strategy Map for Khanh Hoa Aquatic Product Processing Enterprises PHAN THI XUAN HUONG Nha Trang University – huongptx@ TRAN DINH KHOI NGUYEN University of Da Nang – University of Economics – ARTICLE INFO ABSTRACT Article history: 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. Received: Dec. 19 2013 Received in revised form: Sep. 19 2014 Accepted: Jun. 28. 2015 Keywords: Strategy map, aquatic product processing, Khanh Hoa, strategy description, balanced scorecard. 124 Phan Thi Xuan Huong & Tran Dinh Khoi Nguyen / Journal of Economic Development 22 (3) 123-140 1. Problem statement Strategy oriented toward long-term competitive advantages is clearly performed when competitive factors exist. Previously, many aquatic product processing enterprises in Khanh Hoa was able to exist and develop without any business strategy by making the best use of market opportunities during early periods of economic reform, geographically convenient location, and abundant resources. In recent years these advantages have .
