Hoshin Kanri or Strategy Deployment is a key part of Lean that enables organizations to focus and align their improvement activities.
By doing so, organizations can achieve True North which is defined as a future vision of the company with both hard business goals and a soft broad brush people goal. Aligning teams from the corner suite to the shop floor gets everyone marching in the same direction.
By having these teams focus on only a few breakthrough improvement goals, organizations can actually achieve greater improvements and meet targets they didn’t think were possible. Even better, they learn to improve the rate at which they improve. What this means is they can improve faster than their competitors?
Even improving 1 or 2 percent faster than your competitors gives you a marked advantage over time. One that can’t be matched by buying new technology.
For more details see “Getting the Right Things Done” by Pascal Dennis.