Often organizations plan effectively for performance gains, but fail to act on their plan to achieve their goals, leading to poor performance. Hoshin Kanri is a method that addresses the need to act on and achieve planned goals.
Risk management should be a "best practices strategy" aligning data, technology, people and processes across the organization, and not an "audit compliance task." That is especially true in the face of implementation of the Sarbanes-Oxley Act and Basel II.
Interest in using in Hoshin planning, which focuses on achieving a vital annual stretch goal, appears to be growing. And as more large businesses use Hoshin, it is almost certain that they will pressure suppliers in their supply chain to also adopt it.
In order for organizations to reap maximum gains from their process improvement efforts, they must link their strategic goals with their business system.
Companies need an organized approach to making change happen in order to enhance the customer experience and positively impact the company's profitability. The initial step for top management is to define and document a customer strategy.