From the course: Operations Strategy for Business
Mission > vision > strategy > goals > KPIs
From the course: Operations Strategy for Business
Mission > vision > strategy > goals > KPIs
Strategy serves to help our organization and our operations achieve some higher aims. The mission and the vision. Although this course is only really about operations strategy, achieving high performance is not only about strategy. It belongs in a chain of other things that need to be decided and set out first and some other important things afterwards. A very popular and robust structure is Mission, Vision, Strategy, Goals, KPIs. Strategy is in the middle, and it's how we plan to achieve our vision as quantified and measured with our goals and KPIs, Key Performance Indicators. Creating a mission and vision is beyond the scope of this course, but we still need to know what they are. Mission means why we exist? Who are we? What we value, what we exist to do. Vision is about what we want to be, what we want to become, where we are going. Then strategy is how we plan to achieve our vision. What have we got to do to get where we want to be? Then we get on to goals. Setting goals sets the goalposts for knowing if we have achieved what we set out to do and will gauge our degree of success. Then KPIs. These are the numerical measures we will track over time to quantify progress towards our goals, which in turn must align with our strategy, our vision, and our ultimate mission. After strategy operations will clearly have their own goals and KPIs. But the bigger question is, does operations need to have its own mission and vision, or can it just take that from the overall organization's mission and vision? There's no definitive answer to this. Typically, most organizations won't have a big published mission and vision for each business function, but will seek to widely communicate the overall organization's mission and vision throughout the organization. If the organization's overall mission and vision really is so washy and aloof that it's no help to operations, then it has to be worked out with the senior management. A good proactive approach may well be to create an operations mission and vision in that situation, articulated in terms that make sense in operation speak and present it to the top leadership to force the discussion and uncover any fundamental differences of interpretation in order to seek clarification, understanding, and tight alignment.
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