Strategic thinking: An approach to strategic planning

Each year we work with hundreds of financial institutions, helping them think through their business model for today and into the future.  Because of the successes we’re seeing, we thought it would be helpful to outline processes and habits that can help strengthen the thinking among leaders and Boards across the industry.  By focusing on ways to strengthen thinking, particularly on how decision makers in your organization are thinking, you can position your organization to be better able to examine multiple perspectives then expand, revise, and build on them.

Once a year planning sessions are not enough.  Let’s start high-level by framing what an approach to strategic planning through strategic thinking might look like.  More and more, we find that once a year planning sessions aren’t enough to keep up with the pace of change.  Our clients have found tremendous value and relief by shifting away from a singular planning session where many big decisions are made to include regular strategic thinking discussions throughout the year so that when big decisions need to be made, they feel more prepared.  This cadence allows ample time for identified stakeholders to gather and research necessary data and business intelligence to help inform the strategic decisions when the time comes.

 

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