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The way ahead for Wave Riders

WINNING STRATEGIES. The way ahead for Wave Riders. Moving Ahead. The Present – Financials The Present – Sales & Stocks Market Report Chosen Strategy Hoshni Kanri Catch Ball Vision Wave riders’ vision Vital Goals Five year plan Short term departmental Goals. The Present - Financials.

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The way ahead for Wave Riders

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  1. WINNING STRATEGIES The way ahead for Wave Riders

  2. Moving Ahead • The Present – Financials • The Present – Sales & Stocks • Market Report • Chosen Strategy • Hoshni Kanri • Catch Ball • Vision • Wave riders’ vision • Vital Goals • Five year plan • Short term departmental Goals

  3. The Present - Financials Annual Turnover Profit After Taxes

  4. The Present- Sales & Stocks Sales Figures (units) Value of FG Inventory

  5. Market Report • Major competitors – Surf ZA & Hagen • Leisure market to continue to grow at 6 – 7 % • Demand for military goods continues to be stagnant. • Funding for Military sector could reduce further. • Stricter standards for safety. • 90 – 95 % sales of Wave Riders is in the U.K. • Wave riders sales (last year) in UK were only 11 % of the total market.

  6. Chosen Strategy • Increase market share in Europe

  7. Hoshin Kanri • Hoshin Kanri is an organising framework for strategic management, which is concerned with the following four primary tasks. To provide a focus on corporate direction by setting annually, a few strategic priorities; to align the strategic priorities with local plans and programmes; to integrate the strategic priorities with daily management; to provide a structured review of the progress of the strategic priorities. (Roberts, 2001) • Hoshin Kanri is a systematic method for focusing the activities of an organization on critical breakthrough areas. These may he hard old problems or newly surfaced ones, or they may simply be areas critically in need of improvement (Munshi, 1991)

  8. Hoshin Kanri Mission Corp. Philosophy (Jolayemi, 2008)

  9. Catch Ball • “Catch ball”, is used to gain consensus on the deployment of Hoshin targets and measures, in a team environment known as “cross-functional management”. (Roberts, 2001) • Catchball refers to relative up, down, and horizontal discussions and joint analysis necessary for effective determinations of objectives, strategies, targets and means. (Jolayemi, 2008)

  10. Catch ball Director Function A Function B Function C Department Department Department • (Jolayemi, 2008)

  11. Vision • Describes the ‘shape’ of the future business • Sets specific goals • Drives strategy (Wilson, 1992)

  12. Wave Riders - VISION • To be the leader in the European market and strive for the delight of all stake holder’s . • Global – We deliver what you want where you want and when you want • Strives – move on the path of continual improvement • Stake holder’s – customer, share holders, employees and society • Delight – deliver more than the expectations

  13. Vital Goals Goal 1: Meet financial targets Goal 2: To Exceed the customers expectations in quality and service. Goal 3: Deliver 100% on time all across Europe. Goal 4: To be a Carbon neutral, Toxic neutral company. Goal 5: To train and develop all employees to achieve their potential.

  14. Five year plan(medium range)

  15. Short term Departmental Goals • Financial (Goal 1) • Marketing • To increase sales by 10 % next year • To set up a new marketing team for aggressive marketing in Europe. • Strengthen the existing sales team through training and developing on their competencies.

  16. Short term Departmental Goals • Financial (Goal 1) • Production • Reduction in process cost by 10 % in year 2013 • Revisit the SOP and improve upon the production process. • Reduce all forms of waste (go Lean).

  17. Short term Departmental Goals • On time delivery (goal 3) • Production • To reduce the process time from 8 weeks to 6 weeks within a year. • Making use of six sigma system and striving for six sigma levels over a period of 3 years • process improvement. • Reduction of waste (Lean Practices)

  18. References • Jolayemi, J. K. (2008). Hoshin kanri and hoshin process: A review and literature survey. Total Quality Management & Business Excellence , 295 - 320. • Mary Klemm, S. S. (1991). Mission Statements : Selling Corporate values to Employees. Long range planning, 24, 73 - 78. • Munshi, G. R. (1991). Hoshin Kanri: a systematic approach to breakthrough improvement. Total Quality Management , 213 - 226. • Roberts, C. T. (2001). Hoshin Kanri: Implementing the catch ball process. Long Range Planning , 287 - 308. • Wilson, I. (1992). Releasing the power of strategic vision. Long Range Planning, 25, 18 - 28.

  19. Thank you

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