At this stage, our services will focused mostly on supporting the hands-on work of the bank’s middle management on the actual strategy broken down by customer segments. Before the start of the strategy work, we will organize a workshop for middle management:
- Strategy of a bank and its core components
- Mission of a Bank
- Is it really needed?
- Recommendations on drawing up a Mission Statement
- Sample Mission Statements of Ukrainian and Western banks
- Practical exercises: drawing up a Mission Statement of a bank, discussions
- Customer segmentation
- Client groups, their needs
- Group identification criteria
- Practical exercises: Customer segmentation, discussions
- SWOT analysis
- Rules of SWOT analysis
- Action option analysis
- Practical exercises: SWOT analysis, discussion
- Strategy and organizational structure
- Types of strategies
- Selection of a strategy
- Formulation of financial goals
- Bank organizational structure options
- Responsibility centers in the structure of the Bank
- Practical exercises. Strategy and organizational structure options for the bank, discussion
- Balance Scorecard (Strategy Map) as an efficient tool for the implementation of the bank’s strategy
- Financial and non-financial goals.
- Relationship between strategic goals and action plans
- Finance, clients, processes and personnel
- Sample indicators and reports of Ukrainian and Western banks
- Practical exercises: drawing up strategy maps, discussion
- Setting strategic priorities Lessons learned
At the end of working meetings and seminars, middle managers will be divided into groups covering key customer segments identified by the management board at the previous stage. Groups will be asked to carry out a SWOT analysis of their respective segments, determine a competitive product offer for their segment, and specify financial and non-financial goals. Each group will develop a Strategy Map for its segment, and decide on the competitive products promotion strategy. At the end of this exercise, groups will present their Strategy Maps to colleagues and consultants, and then to the management board.
Thorough selection of participants is pre-requisite to the successful implementation of this phase. Groups must consist of managers of core business units dealing with corporate and private customers, managers of strategic and financial planning units, managers of the most successful branches. Customers will discuss respective Strategy Maps with each group face-to-face, and provide their recommendations.
This phase will result in Strategy Maps for each segment with lists of competitive products and balanced segment indicators.