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Te vision and mission are just two key elements of a thorough strategic plan that not only satisfies regulators but also ensures that all stakeholders are working with the same expectations. A
strong strategic plan contains the following key elements. mission, vision and core values risk appetite statement SWOT analysis strategies for a three-year focus action plans to fulfill the strategies
Troughout 2020, it has seemed overwhelming to think of anything beyond the day-to-day operations; we all had to focus on how to serve customers and how to appropriately staff all areas of the bank. It’s easy to get caught up in the idea that we’re too busy to think about strategy. But, don’t let busyness take over the business.
Banks don’t tend to think of strategic planning as a risk area, but it can be.
“Oſten, banks don’t give enough attention to their reputation,” Glenham said. “How do we continue to serve our customers? How do we manage through this pandemic and on the other side of it? Any decisions that are made now are critical and should be guided by a solid strategic plan.”
THE MISSOURI BANKER 23
Pin Network Optimization EFT System Negotiation Brand Incentive Negotiation
Penetration, Activation, Utilization Improvement
HELPING GOOD BANKS GET BETTER
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