“Hexagon of Excellence”: Characteristics That Make the Performance of a Company Excellent in Terms of How They Approach Project Management
Effective strategic planning can mean the difference between the long-term success and failure. Even career planning for individual project managers ultimately plays a part in a company’s excellence in project management or its mediocrity. Strategic planning is the process of formulating and implementing decisions about an organization’s future direction. This process is vital to every organization’s survival because it is the process by which the organization adapts to its ever-changing environment, and the process is applicable to all management levels and all types of organizations. The formulation process is the process of deciding where you want to go, what decisions must be made, and when they must be made in order to get there. It is the process of defining and understanding the business you are in and how to remain competitive within that business. The formulation process is performed at the top levels of the organization. Here, top management values provide the ultimate decision template for directing the course of the firm. The formulated Plan are translated into policies and procedures for achieving the grand decision. Implementation involves all levels of management in moving the organization toward its mission. Middle and lower-level managers spend most of their time on implementation activities. Effective implementation results in stated objectives, action plans, timetables, policies and procedures, and results in the organization moving efficiently toward fulfillment of its mission.As companies begin to mature in project management and reach some degree of excellence, they achieve a sustained competitive advantage. Achieving this edge might very well be the single most important strategic objective of the firm. Once the firm has this sustained competitive advantage, it will then begin to exploit it.
The development of these elements made Kaoru Ishikawa successful because organizations have been able to increase revenue and deal with competition in the market.
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