Control. How to make sure that the action plan is correctly implemented?
Category: Branches
How to make sure that the action plan is correctly implemented? What is the impact of each component on the bank’s commercial effectiveness?
A control function, with monitoring and warning capabilities, is crucial in this matter.
Measurement and control are intended to assess:
Implementation of action plans: are the necessary steps really implemented?
Relevance of the actions compared with markets
Tangible result at commercial level: How much, after how long? What is the differential?
This part will be heavily developed in the module focusing on how to keep the strategy under control. But the main topics will be briefly presented here.
Why a new organisation?
To start a new activity or to open a new branch
To imagine a specific sale’s staff specialised in coaching partners
To create new tools to analyse the results of a new branch
To improve current branch management
Key success factors
In terms of methods it is necessary to think of
Tools
Organisation
Managers
To lead a quality control on the actions decided
Insist on 2 major aspects:
Involvement of the entire hierarchy, from top to bottom. If not, a project will quickly be doomed.
Use project management skills. All Western banks have an Organisation Department, which shows that this type of skill is a requirement, especially in a fast-moving environment and where increasingly technical tools and products are used. Organisation managers are here to ensure that operational staff are correctly supported, that their requirements are taken into account, and the IT Department works according to their needs.
Conclusion and notices
Conclude that the creation of the tools and the methods detailed are developed in one of the module of the topic “branch network management”.
As a result of this discussion, some practical suggestions are likely to emerge. These suggestions should be noted and, if agreed with bank management, forwarded to the appropriate person after the course.
Control
Finally, mention that the Control function is the next logical step after having started the implementation of your commercial strategy with your branch network. This will be the subject of a following module of this cycle on branch network management.