Successful companies have three factors in common: 1) A goal that all members share together, 2) empathy for a unified ideology, 3) sharing strategies to achieve a goal. POSCO has been sharing the vision of ‘POSCO the Great’ with all employees and striving to enhance its corporate value. Thus, based on their shared innovation agendas and management ideologies, ‘POSTIM’ was newly established as a powerful execution engine.
1. POSCO’s Unique Innovation Model, POSTIM
POSTIM, which stands for POSCO Total Innovation Model, is based on the participation of all POSCO employees and subsidiaries, as well as integration of work and innovation. By establishing a specific solution to the previous problems and systemizing the accumulated procedures and capabilities through POSTIM, POSCO will make its way to realize ‘POSCO the Great’.
2. Four Basic Principles of POSTIM
POSCO established four basic principles with the goals of increasing profitability, creating a Great Work Place, and enhancing job commitment. The specific principles are: 1) striving to generate profits by integrating work and innovation, 2) offering a reward corresponding to voluntary participation and employee performance, 3) creating a work environment in which employees are committed to creative activities and jobs, and 4) fostering and giving preferential treatment to talented individuals with technical and problem-solving skills.
3. POSTIM’s engine for implementation
POSTIM consists of PWS, QSS+, and SWP activities. Each activity will act as an engine for implementation to practice the management ideologies – One POSCO, Creative POSCO and Top POSCO – and fulfill POSCO’s innovation agendas. POSTIM is expected to contribute greatly to accelerating the fulfillment of ‘POSCO the Great’ by systemizing the accumulated organizational competences, such as innovation methodologies, human resources and systems within a unique innovation model
- PWS (Project-based Working System)A business method in which employees find new projects to increase profitability, attain qualitative goals, and concentrate on producing outstanding results
- QSS+ (Quick Six Sigma Plus) in every corner of the siteActivities to improve Quality, Stability and Safety by evolving a unique method suitable for steelworks with a focus on operating facilities. Accordingly, steel mill sites such as STS steel manufacture and quality-technology departments, are accelerating the realization of ‘POSCO the Great’ by having proclamation ceremony for QSS+ and holding an information session in each department. POSCO expects QSS+ to root down firmly in every corer of the sites and contribute as a stepping-stone for unprecedented innovation activities.
- SWP (Smart Work Place)A series of activities carried out to enable employees to concentrate on their jobs by performing high value-added tasks and generating creative ideas based on a harmonious and positive organizational culture.
Notes from CEO
“Let’s develop POSTIM as POSCO’s unique innovation model”
If the innovation methodology that POSCO has been promoting was in a physically mixed condition, the new POSTIM is the result of chemical bonding of innovation methodologies. For example, we utilized TESAL and Six Sigma individually in the past. However, as TESAL’s good methodology is applied to Six Sigma, POSTIM is a systemized model that is not limited to a certain methodology and allows combined application. Through this new model, POSCO is able to apply the majority of the existing methodologies with further convenience and can choose the part to include in POSTIM if a better methodology is developed in the future. Let’s develop POSTIM as POSCO’s unique innovation model.