Strategic Objectives detail your
plan for strategy execution by translating "big thoughts" into
"concrete steps for action", reflecting the organization's highest
priorities.
Each objective should be a concise
statement which articulates a specific component of what the strategy must
achieve/what is critical to its success. Each perspective usually contains 3-6
primary objectives that state a key aspect of the strategy to be achieved over
the next 3-5 years. Objectives are best stated as action phrases (verb/object)
and may include the means and/or desired results as well as the action.
Examples:
· "Increase Market Share
Through Current Customers" (Financial Perspective)
· "Be Service Oriented"
(Customer Perspective)
· "Achieve Order Fulfillment
Excellence Through On-line Process Improvement" (Internal Perspective)
· "Align Incentives and Rewards
With Employee Roles for Increased Employee Satisfaction" (Learning &
Growth Perspective)
We've
learned over the years that the key to a sustainable strategy execution culture
is individual engagement. Furthermore, this individual engagement around the
strategy will only come if one's "day job" isn't disrupted too much.
Strategy
is nothing without execution. You can build the best strategy in the world and
if it's not implemented and managed correctly, you will gain very little
benefit.
Palladium
Group has now introduced new system to ensure the continuous implementation of
BSC and ensure a constant connect between the strategy planners and the process
owners .This is known as Office of strategy Management (OSM).You can read more on OSM HERE
Balance
Score Card on its own cannot deliver optimization. it needs to be supported by
the implementation Lean Management
specially in the manufacturing organization. Lean Management envisions the
implementation of Lean Manufacturing and service practices.
What
is Lean Management???
Lean
philosophy is more or less mean philosophy.
“Lean” management is philosophy or
practice where expenditure for any goal
other than the creation of value for the end customers is considered wasteful
and thus eliminated. “Value” is defined as any action or process, a customer is
willing to pay. It is based on the principles adopted at the Toyota Production
System (TPS). TPS have categorized the wastes into three categories Muda, Mura, Muri.
Muda has seven types of wastes namely Over Production, Waiting, Inappropriate
Processing, Unnecessary Inventory, Unnecessary Motion and Defects. Under
utilization of the latent skills of the work force is often considered as eight
type of waste.
Mura
represents unevenness, which can also
be understood as absence of perfection and synch with and between Process and
operations.
Muri
represents reducing overburden caused due to lack of
standardization of procedures.
Implementation
of Jidoka, Nemawashi, and Poka
Yoke in Lean Management:
Jidoka
represents
autonomation, where the process is so designed that chances of human error are
reduced considerably by incorporating automation that detects minute defects
and stops the production process immediately. This prevents the defective
pieces travelling further on the process chain. Usually it takes a little time
for the human being to identify the defect and stop the process. By this time a
few defective pieces would have reached next stage and would have undergone the
next process resulting in the waste in terms of defective material, time and
wear & tear of the machine and the utilization of the resources. Jidoka
avoids this and helps considerably in costs optimization.
Nemawashi:
represents productive consultations
& confabulations across the functional areas. This method envisages one to
one informal meeting with the colleagues before an important meeting, briefing
them and convincing them, so that productive results can be derived from the
meetings without wasting much time, as the members are aware of the subject and
mentally prepared to go forward with the decisions.
Poka Yoke: Poke
Yoke or mistake proofing means taking steps to ensure errors or abnormalities
can't occur. It can involve using checklists, quality checks, part or tool
design, machine modification, setting tolerance limits and so forth. There are
three variants of Poka yoke namely, The
Contact type, The Constant No. type,
and the Performance Sequence type.
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