A detailed set of activities
This step represents the more detailed set of activities to be done in the context of the new strategy. It concerns the organisation of each of the activity; the allocation of responsibilities and resources, the way the different departments involved in the strategy will collaborate.
Top-down and bottom-up approach
This level of planning is the first to actually detail precisely what is expected from the strategy. This is also usually the responsibility of the top management, in collaboration with the operational managers. It is both a top-down approaches, starting from the broad strategic plan, and a bottom-up process, integrating the [...]
Role of top management
The strategic statement is the long-term view the top management of the bank has over its activity. The management defines precisely the strategy, the organisation and the framework to implement it. It is only when this overall framework is clearly defined that short-term actions can remain consistent with the long-term target.
Four major inter-dependent steps
The whole process linked to the definition of a strategy and to its implementation is made of four major steps, closely inter-dependent. Indeed, the success of a strategy depends strongly on the precise definition of each of the steps, in order to have a clear view of the objectives, the way to [...]
