Hoshin Kanri and The Balanced Scorecard

The Balanced Scorecard is an alternative approach to Hoshin Kanri. It is an allied method of goal deployment that was developed originally from Hoshin Kanri ideas at Hewlett-Packard in the United States. As its name implies it aims to bring a balanced approach to management decision-making that stresses the importance of a mix of financial and non-financial corporate goals.
 
The Balanced Scorecard is a corporate level specification of key corporate objectives, normally in four critical areas such as customers, employees, financials, and processes; and given with their associated metrics, that are recorded very concisely to fit on a small pocket-sized document.
 
Unlike Hoshin Kanri, the Balanced Scorecard does not involve any specification of an annual vital few and there is no recognised organising framework for its deployment or use in daily management. The Balanced Scorecard is used to clarify at a senior and middle management level the key strategic goals and it is used effectively to help align the annual policies with corporate goals.

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