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Does Planning Make a Bank More Effective?(Manuscripts) (Company Overview)
Academy of Banking Studies Journal 2002, Annual, 1
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- 12,99 zł
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- 12,99 zł
Publisher Description
INTRODUCTION A properly orchestrated plan will begin with a planning session, usually led by an outside facilitator that puts into focus the general direction the bank should take over the next three to five years. Make sure the facilitator understands banking in practice not just theory. The planning meeting or retreat should involve senior management and members of the board of directors, and must be held away from the bank-preferably an hour or more away to avoid distractions! Management should deal with directors' concerns, strengths of the bank, weaknesses of the bank, opportunities available to the bank, and threats to the bank, as well as specific issues such as the economy, existing markets and potential new markets, competition, new and existing products products, technology, staffing and budgets. After the issues of strengths, weaknesses, opportunities, and threats are addressed, the bank must deal with the financial drivers that can make or break profitability, and must be mindful of what the competition is doing.