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Strategic Planning is the process of deciding the future goals, the time
intervals in which these goals are to be achieved and the mechanism of
cascading the goals to all sections of the organization. It starts with the
definition of vision, Mission and the purpose of the organization. The
Top Management team discusses the various alternatives to realize the
vision of the group. SWOT analysis (strengths, weaknesses,
Opportunities and threats) is a good tool to select the most suitable
growth plan among the many available. At the end of the planning workshop as
the first deliverable, the goals are defined. The strategic goals and objectives should
be measurable and achievable .An example is given below: Vision: to be the most
favoured car manufacturer. Strategic Objectives: To reach 20% export target by
2010.To export to France and Germany by 2012.To become the no 2 in market share
in Europe by 2014.Goals defined at the highest level need to be
communicated to all sections of the organization and they should be asked
to develop their own goals in line with the top level goals. Policy Deployment or
MBO are the two techniques used in various companies for this purpose.
In policy deployment or Hoshin Kanri the Japanese companies cascade the top level
goals by layer by layer approach. In MBO the goal setting process
is only Top down whereas in Policy Deployment opportunity is
made for the lower level managers to discuss variations in the magnitude
of goals and targets. Recently a tool called Balanced score card
has been developed in USA which has four perspectives of
communicating and cascading the objectives.
The strategic goals are communicated as follows
1. Financial perspective
2. Customer perspective
3. Process perspective
4. Learning and Growth perspective In BSC, each manager is asked to
develop a score card which will express the goals of that function
or unit in all the four perspectives.
Alignment is expected to be ensured in each of the
f o u r perspectives of a lower level card with a higher level score card
.Periodic reviews by top management help the company to monitor the progress on
action plans
Plan: Identify the Goals Set the Quality targets Define the Quality
requirements for the product or service to be delivered to
customer Identify resources Do: implement process approach Train People
Communicate the requirements Check Monitor the characteristics of product
and process Identify non conformances A c t T a k e
improvement actions to prevent recurrence of problems
n o t i c e d l e a d i n g t o n o n conformances