Step 6 - Develop the Programs and Priorities

Agreeing the programs is the point at which the strategic planning meets budgeting. The goals must be achieved and therefore the resources of the organisation must be marshalled for action in a coherent and cohesive way.

It is important to remember that the resources of any financial institution comprise more than those items usually shown on the balance sheet. Although the financial strength will be important to the continuing success of the organisation, it is not enough on its own. The people within and around the organisation and the infrastructure used to create and deliver the products and services to the customers are also resources that must be managed and motivated.

The various resources within any financial institution form a jigsaw of inter-dependent components that aim to meet or exceed customer expectations profitably. Management must ensure that the pieces of the jigsaw fit together and that the underlying resources optimise the shape, style and content of the puzzle to ensure that it meets that aim.

Developing the action plan, cascading the goals down through the hierarchy and gaining agreement to the measures and targets at each level are crucial. Managing this process requires tact and patience as well as experience and skill.

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