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| [image credit: Clker-Free-Vector-Images on Pixabay] |
https://en.wikipedia.org/wiki/Hoshin_Kanri
- ...a 7-step process used in strategic planning in which strategic goals are communicated throughout the company and then put into action.
- The Hoshin Kanri strategic planning system originated from post-war Japan, but has since spread to the U.S. and around the world. Translated from Japanese, Hoshin Kanri aptly means "compass management". The individual words "hoshin" and "kanri" mean direction and administration, respectively.
- Hoshin Kanri requires a strategic vision in order to succeed.
- From there, strategic objectives need to be clearly defined, with goals being written for long periods of a one to five-year-long timeframe
- Once the long term timeframe goals are completed, the team can focus on yearly objectives
- Management needs to avoid picking too many vital goals in order to stay focused on what is strategically important
- Hoshin Kanri is a top-down approach, with the goals being mandated by management and the implementation being performed by employees.
- Companies that use Hoshin Kanri often follow a Think, Plan, Implement, and Review process, which is comparable to W. Edwards Deming's Plan Do Check Act cycle
If you are pressed for time, read this:
The Ultimate Guide to Strategy Deployment using Hoshin Kanri (X-Matrix)
https://www.linkedin.com/pulse/ultimate-guide-strategy-deployment-using-hoshin-kanri-vetriko/
(See triangle in diagram, Principles of Hoshin Kanri - nice graphics)
