“In many companies there is a grand long term goal on one hand…and detailed short term budgets and annual plans on the other hand… with nothing in between to link the two together… the long term doesn’t start at year five of the current strategic plan. It starts right now!”
– Gary Hamel and CK Prahalad, Harvard Business Press
It is with great anticipation that organizational goals are set and strategies formulated. However, quarter on quarter when the financial numbers do not add up there is post-mortem done on what caused the failure and then further plans are made. It has been observed that organizations falter in achieving organizational goals and deploying strategy, as there is no framework available for translating strategy into action.
Hoshin Kanri Deployment
Hoshin Deployment is a tool used to facilitate the creation of business processes that result in a sustained competitive advantage in Quality, Delivery, Cost & Innovation. Hoshin Kanri approach is a system to translate the vision, not short term issues into tangible and measureable objectives for achieving the breakthrough results. At the heart of the Hoshin Process is the PDCA cycle of Continuous Improvement.
Balanced Scorecard
The Balanced Scorecard translates an organization’s vision and strategy into a comprehensive set of performance measures that provides the framework for a strategic measurement and management system. In addition, the organization is able to document and define the cause-effect relationships between key measures, processes and functions. By linking measures directly to strategic initiatives, the organization stays focused and is able to move towards the long-term goals.