Hoshin Planning, often referred to as Strategic Planning or Policy Deployment, is a highly structured and lean methodology used to accelerate and bring rigor to strategy execution. Hoshin Plans (sometimes referred to as X-Matrices) are developed through highly collaborative workshops that drive engagement, buy-in, and detailed action planning followed by a disciplined and methodical approach to accountability.
With roots closely tied to Lean Manufacturing, Hoshin Planning has grown into a highly effective methodology applied to all industries, from banking and financial services to manufacturing and technology development.
In our highly competitive and complex world, poor strategy execution is often cited as the number one challenge of business. Hoshin Planning offers a very methodical, yet lean, approach that is manageable and can be implemented with relative speed. The benefits of Hoshin Planning are derived from its highly collaborative foundation that ensures engagement, agreement, and accountability, which are all critical to successful strategy execution. While true mastery of Hoshin Planning can take years because of the need to see the process through more than once, results can be seen in as little as weeks.
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Don't let these three misconceptions stand in your way of exploring an effective method for your strategic planning and execution.
Hoshin planning is a time-tested process that links your major strategy objectives with the specific resources and action plans needed to make them happen. This presentation, recorded at the 2009 IW Best Plants Conference, provides you with a basic understanding of what hoshin planning is and how it can significantly improve your business.
The X-matrix is a valuable tracking tool in the Hoshin Planning process that ensures all the activities of the organization are related to achievement of the Breakthrough Objectives. COO Wes Waldo tours the parts of the X-matrix and their purpose in this clip.