In this last post on the evolution of strategic management, I will talk about Hoshin Kanri. For me, it is the big thing—albeit I may be influenced by being an Ex-Toyota employee, and, while Hoshin Kanri was not invented by Toyota, it was certainly made popular by it and its lean manufacturing. Hence, it is also the last post in this series, even though timewise it came before the balanced scorecard, which also had Hoshin Kanri as an inspiration.
Strategic Management
The Evolution of Strategic Management—Balanced Scorecard
In this fifth post on the evolution of strategic management, we will be looking at the Balanced Scorecard. Like Objectives and Key Results, it is an evolution of Management by Objectives (MBO). It is also influenced by Hoshin Kanri. In terms of popularity, it is slowly on the decline, albeit still quite popular.