It is clear that we are entering a new era in banking where the rules of the game will be unfamiliar to many seasoned bankers. This environment will separate the winners from the losers and promises to leave some bankers disoriented and adrift, some will not survive. In order for a bank to not only compete in this type of environment but also survive, they will need to develop a clear organizational structure, a strong strategic plan and management skills to implement their goals and action plans.
Strategic planning is a process that helps those within the organization articulate the future which they would like to create together. An organizations strategy should reflect the times in which it lives. This strategic plan should become the formal document that drives the organization through its new environment and establishes a basis from which the bank can deal with planned and unplanned changes. And at a pace that does not consume the human and financial capital of the bank. Without a clear understanding of these trends, the bank will not be prepared to compete with new market entrants and distinguish themselves with a clear competitive strategy or advantage. As an industry, we are experiencing long-term restructuring rather than cyclical reductions. These changes are permanent.
- Understanding the components of Shareholder Value & Shareholder Reward
- Developing and Delivering an effective Organizational Audit
- The SWOT Analysis: What I do now with the information
- Identifying Strategic Priorities
- Gaining Organizational Commitment to Human & Financial resources
- Keeping the dust off the plan once it is approved