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flevyblog
The Flevy Blog covers Business Strategies, Business Theories, & Business Stories.
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Editor's Note: Take a look at our featured best practice, Strategic Planning: Hoshin Kanri (Hoshin Planning) (153-slide PowerPoint presentation). [NOTE: Our Hoshin Kanri presentation has been trusted by an array of prestigious organizations, including industry leaders such as Apple, Facebook, Boeing, Shell, Goodyear, Cummins, Johnson Controls, Hanes, Telefónica, Chubb, Discover, Stryker, Thales, Saint-Gobain, AGCO, to name just a [read more]
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People and their managers are working so hard to be sure things are done right, that they hardly have time to decide if they are doing the right things. – Stephen R. Covey
Strategy is an expression of what an organization intents to do to get from a current state to a future state.
Strategic plans are often developed in isolation and rarely aligned across an organization. As a result, the organization’s strategy and strategic objectives are not well defined, are not well communicated and do not impact day-to-day decision making.
Our Strategy Planning and Deployment Process, using Strategy Maps and Hoshin Kanri, provides an organization with simple and effective methods and tools to develop, communicate and align its business objectives, strategic initiatives, operating plans, targets and goals.
A Strategy Map is a logical framework for identifying and organizing a collection of initiatives and activities, that support a specific Strategic Focus Area and Objective, over the four Balanced Scorecard dimensions; Financials – Customers – Internal Business Processes – Learning & Growth. Everything is linked to capture and visualize the cause and effect relationships.
To cascade each Strategy Map, interaction between the different level of an organization is necessary. This process is often called “catchball”, reflecting that all the participants in the process should be given the opportunity to “throw” ideas back and forth. An effective “catchball” process will result in well-defined and aligned action plans engaging the entire organization. The outcome of the “catchball” process is often documented and visualized using a Hoshin X-Matrix.
Strategy Maps are also the foundation for building an effective Performance Management Systems and aligned Balanced Scorecards for the different levels of an organization.
A well-defined, methodical and disciplined review process and the deployment of Process Excellence Solutions, including Lean Management, Six Sigma, Business Process Development and Problem Solving, will ensure that progress toward the Strategic Breakthrough Objectives is made and that any risks and roadblocks are identified and resolved in a timely manner.
You can download in-depth presentations on Hoshin and 100s of management topics from the FlevyPro Library. FlevyPro is trusted and utilized by 1000s of management consultants and corporate executives.
For even more best practices available on Flevy, have a look at our top 100 lists:
These best practices are of the same as those leveraged by top-tier management consulting firms, like McKinsey, BCG, Bain, and Accenture. Improve the growth and efficiency of your organization by utilizing these best practice frameworks, templates, and tools. Most were developed by seasoned executives and consultants with over 20+ years of experience.
