06:34
Faizan
Do you feel that you are unable to help your business go ahead even though your organization goes through an annual goal setting exercise? Most companies make plans for the year with great expectations but they lose track of their goals within the first few months. However, you do need to plan ahead in order to achieve success. There is little doubt that Hoshin planning is the best way to go about this.
Hoshin planning is a very effective method of planning that accounts for the long term without neglecting day to day goals. In fact, if short term goals are not achieved then it is very unlikely that your will be able to identify various breakthrough changes that define the direction it will take. This form of planning is a very important component of Total Quality Management (TQM).
Your organization will benefit since:
- Various issues (threats and opportunities) that it faces can easily and correctly be identified.
- Business objectives and strategies can be formulated based upon the various business issues that have been identified, ensuring continuous improvement at the workplace.
- Process can be monitored regularly since this form of planning calls for various checks. This helps to arrest deviations from the plan almost as soon as they occur. Plans can also be changed at any time in order to accommodate changes in the business environment.
- Resources can be used in the best possible manner since wastage of time, money, manpower as well as raw materials can be reduced drastically.
- Employees will be highly motivated since they have a big role to play in setting goals and monitoring their progress. They will have a greater sense of participation in the good performance of the company since they will individually be responsible for achieving various parts of the plan.
Hoshin planning is a very effective method of planning that accounts for the long term without neglecting day to day goals. In fact, if short term goals are not achieved then it is very unlikely that your will be able to identify various breakthrough changes that define the direction it will take. This form of planning is a very important component of Total Quality Management (TQM).
Your organization will benefit since:
- Various issues (threats and opportunities) that it faces can easily and correctly be identified.
- Business objectives and strategies can be formulated based upon the various business issues that have been identified, ensuring continuous improvement at the workplace.
- Process can be monitored regularly since this form of planning calls for various checks. This helps to arrest deviations from the plan almost as soon as they occur. Plans can also be changed at any time in order to accommodate changes in the business environment.
- Resources can be used in the best possible manner since wastage of time, money, manpower as well as raw materials can be reduced drastically.
- Employees will be highly motivated since they have a big role to play in setting goals and monitoring their progress. They will have a greater sense of participation in the good performance of the company since they will individually be responsible for achieving various parts of the plan.
Posted in: business
