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The CEO's Most Important Job: Strategic Planning

September 2, 2015

By: Bank Strategies LLC Consulting Team


As CEO, you are thinking about your bank and its present and future situation morning, noon and night (ok maybe not every night).  Between satisfying the evolving needs of the banks various constituencies, the expectations of regulations and regulators, the impact of technology and demographics, and the competitive forces at play in financial services; the day-to-day challenges and alternative future strategy considerations you have to think about and consider have never been greater. 

Determining the highest and best strategy initiatives for your bank over the next twelve to eighteen months is likely the most important task you have in front of you. The strategy considerations are broad, therefore, it is imperative that you and your team identify and focus on the defined strategies most important to your bank's future success. The choices you make in strategy initiatives, and the effort extended in implementing these initiatives will determine your bank's ability to survive and thrive, and to continue to deliver shareholder value.
The strategic planning approach you use is critical to being able to define and implement an effective strategic plan that produces desired and necessary results. Your objectives for your bank's strategic planning process in 2015 should include: 
1. To have everyone in the organization aware of, committed to, and pursuing the same strategic initiatives and goals that are critical to future bank success,
2. To have all parts of the organization moving forward with their portion of the plan at approximately the same speed so that overall financial balance is maintained, and
3. For everyone, including the Board, to be aware of the current status of goal achievement and progress on the written plans strategic initiatives and action plans.
To achieve the above objectives, your strategic planning process must be designed to identify the strategic initiatives critical to future bank success, define measurable strategic goals, identify action plans to move you in the direction of the strategic initiatives and goals, and include internal controls to ensure you stay on track in progressing towards the identified goals and objectives.
Additionally, it is critical to have board and bank management buy-in and commitment to the strategic plan, initiativesand goals. Without this, the chances of achieving the strategic objectives are minimal. Achieving necessary buy-in and commitment requires you involve your leadership team in the planning process in a variety of ways during and after the formal planning process. 
Bank Strategies LLC is an expert in community bank strategic planning and has facilitated strategic planning sessions for community banks of all sizes for many years.  We can help you develop and define a strategic plan that is custom fitted for your bank and its situation.  We assume the responsibility of designing, facilitating and providing the written plan documenting the decisions your team make, allowing bank leadership to truly focus on strategy considerations.  Further, being independent allows us to more easily and openly solicit input and engage your Board and management team in the planning process.    We can also assist you in designing and implementing a progress reporting process for officers and the Board to ensure your strategic plan is a living and breathing document, not one that gets placed on a shelf.
Ultimately, our goal is to help make your job a little easier by playing a key role in helping to create an effective and meaningful strategic planning process and plan to help guide your bank into the future.  Give us a call to discuss how we can help you.  Contact any of us to discuss how we can help.

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Contact Information

Phone: 303-903-9369

Mail: 75 S. Joyce Street, Golden CO 80401

EMail: Jim@bankstrategiesllc.com