Nghiệp vụ ngân hàng - Business strategy - Implementation

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  1. BUSINESS STRATEGY Implementation Lecturer: PHD. PHẠM QUỐC KHÁNH Banking Academy (Vietnam) khanhhvnh@gmail. com Mobile: 0913210000
  2. Strategy imp lementation Learning outcomes ƒ After finishing this chapter, you will understand: ƒ KiKey issues ittin strategy management ƒ Department plans and objectives ƒ Concepts of MBO ƒ Resources requitdlltiirement and allocation ƒ The importance of budget
  3. Stra tegy Imp lemen ta tion ƒ Implementation issues. – It is impossible to plan for every eventuality. – Implementation often involves adjusting the plan in the light of changed conditions. – An organisation has to ensure that its resources are deployed at two levels. • Corporate; that is, between different businesses • Unit or operations; that is, between functions and departments – Decisions at oppyerations level may be taken without any consideration of their overall strategic implications.
  4. Stra tegy Imp lemen ta tion ƒ Implementation problems. – Implementation takes longer than expected. – Major unexpected problem arise. – Inadequately co-ordinated. – Employees do not have the necessary capability. – Information systems are not adequate. – Overall goals are not communicated
  5. Stra tegy Imp lemen ta tion ƒ Guidelines for strategy implementation. Envisioning Activating Supporting Installing Controlling Reconising
  6. Strategy Imp lementation DEPARTMENTAL PLANS AND OBJECTIVES ƒ Tasks. – Document the responsibilities of divisions, departments and individual managers. – Prepare responsibility charts for managers at divisional, departmental and subordinate levels. – Prepare activity schedules for managers at divisional, departmental and subordinate levels.
  7. Strategy Imp lementation DEPARTMENTAL PLANS AND OBJECTIVES ƒ Responsibility charts. – The manager's major objective. – The manager's general programme for achieving that objective. – Sub-objectives. – Critical assumptions underlying the objectives and the programme.
  8. Strategy Imp lementation DEPARTMENTAL PLANS AND OBJECTIVES ƒ Management by objectives: ƒ MBO is a scheme of planning and control which co- ordinates short-term plans with longer-term plans and goals: the p lans (an d comm itmen t) o f jun ior w ith seni or 1 management and the efforts of different departments. ƒ MBO aims to harmonise individual managers objectives with those of the organisation, seeking to achieve a sense of common purpose.
  9. Strategy Imp lementation DEPARTMENTAL PLANS AND OBJECTIVES ƒ MBO- Unit objectives are required for all departments: Identify which individual For each of these primary managers within the unit They must be set first of all targets, secondary targets are in a position to in terms of primary targets (or sub‐targets) will influence the achievement be set of each of them The unit improvement plan A personal job is then broken down into a Top management will then improvement plan should series of key make a unit improv ement be agreed with each results and performance plan manager standards A systematic performance review of each manager' s results
  10. Strategy Imp lementation ALLOCATING RESOURCES ƒ Resource planning at corporate level: – Degree of change. Will the organisation need more or fewer resources of personnel, capital (for investment purposes)d) and so fth?forth? – Extent of central direction. How will these resources be allocated? • By the corporate centre? • According to the requests and decisions of the operating units themselves?
  11. Strategy Imp lementation ALLOCATING RESOURCES ƒ Four methods for allocating resources: Change Low HhHigh Bargaining between Low Competition between units departments or SBUs Central direction Formula (e.g. increase all High Planners impose priorities depts. by 5%)
  12. Strategy Imp lementation ALLOCATING RESOURCES ƒ Resource planning at operational level: Fit with Fit between Resource existing required identification resources resources
  13. Strategy Imp lementation ALLOCATING RESOURCES ƒ Critical success factors: – CSFs cover both financial and non-financial criteria. – CSFs give some idea of the resources that are needed • Components of the resource plan – Budgets – Plans for obtaining and using human resources. – Network analysis, indicating how resources will be deployed in a particular sequence. • Outsourcing: – Sub-contracting work to external suppliers.
  14. Strategy Imp lementation BUDGETS AND STRATEGIC MANAGEMENT ƒ The budget should be properly related to the strategic plan. ƒ The factors which should influence the budget period are as follows: – Strategic plans have a planning horizon in excess of one year. – Implementation. – Resources. – Error: all budgets involve some element of forecasting and gg,uesswork, since future events cannot be q uantified with accurac y.
  15. Strategy Imp lementation BUDGETS AND STRATEGIC MANAGEMENT ƒ Problems with budgets: ƒ Recent developments require managers to think in terms of processes, with the customer at the end of them, not ofttif a static organi itittsation structure. ƒ Incremental: Deppgppartmental budgets are then prepared based on last year's costs and year- to-date actual. ƒ There is a need for management to satisfy shareholders that their company is achieving good results, and for this reason, the arbitrary one-year financial period is usually selected for budgeting. It is not necessarily relevant to the business strategy .
  16. Strategy Imp lementation CONTINGENCY PLANS ƒ Contingencies are uncontrollable events which are not provided for in the main corporate plan. ƒ Continggypency plans should be ppprepared in advance to deal with the situation if and when it arises. Such plans might be prepared in detail, or in outline only, depending on the likelihood that the contingency will become a reality.