OREANDA-NEWS. September 18, 2014. POSCO accelerates the reinvention of `POSCO the Great` based on its own unique innovation model `POSTIM (POSCO Total Innovation Model)`.

POSCO has established a strong implementation system to put its 4 innovation agendas and management ideologies into practice. The 4 innovation agendas include ways to enhance the competitiveness of the steel industry, the selection and concentration of new business opportunities, a dramatic improvement to its financial structure, and the reform of its management infrastructure, while its management ideologies are One POSCO, Creative POSCO, and Top POSCO.

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. POSCO established 4 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.

POSTIM consists of PWS, QSS+, and SWP activities. Each item will act as an engine for implementation to practice the management ideologies --- One POSCO, Creative POSCO, and Top POSCO --- and fulfill the 4 innovation agendas.

First, PWS (Project-based Working System) refers to 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) involves activities to improve Quality, Stability and Safety by evolving a unique method suitable for steelworks with a focus on operating facilities. SWP (Smart Work Place) refers to 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.

POSTIM was established as POSCO`s unique innovation model with a specific remit to solve the problems it faced when trying to bring about innovation. Such has been POSTIM`s success that POSCO now uses it to turn company-wide innovation into an engine for the implementation and fulfillment of its corporate vision.

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.