Helping to define a strategic plan
Spirit Advisors specialises in operational excellence in the banking and insurance sectors. We support you in defining and implementing your strategic plans.
A strategy for the future
All banking and insurance establishments regularly draw up medium-term strategic plans to address the challenges for the next 4-5, or even 10 years. They also need to take account of changes in their ecosystem (regulations, changing customer needs and behaviour, digitalisation, IA, CSR, volatility, rising risk levels, etc.) and identify the key points that link the company’s strategy and profitability with its operational choices.
A structured vision
to be developed
and shared
Define a common vision
Support the executive committee in defining a common strategic vision based on internal strengths/challenges and external opportunities/threats. The complexity lies in gaining the commitment of each stakeholder, or even achieving a consensus, which is a key factor for the successful operational deployment of the strategy.
Capture the "Voice of the Customers"
Capture the voice of the customers, also known as VOC (“Voice of Customer”), both internal (employees) and external (end users), mainly through quantitative studies based on a broad panel of target customers. These studies are often complemented by qualitative studies, based on a smaller and more targeted panel, to better understand expectations and anticipate future developments.
Involve all stakeholders
Stakeholders, such as local actors, social partners, administrators or members, employees, and customers, must be involved to varying degrees.
This ranges from involvement in strategy definition (co-creation) through bottom-up mechanisms (surveys, workshops, etc…) to involvement in the operational implementation of the strategy (co-construction).
Mark out the financial impact
Define ambitions, particularly on the financial front (revenue, target profitability level, strategic markets to conquer, develop, or retain, etc…) to guide the organization’s strategy across various territories, markets, and products.
Prepare and manage changes
Translate the strategic plan into an operational action plan detailing the various projects to be undertaken to serve the defined strategy. These projects must themselves be framed (expected outcomes, prerequisites, necessary resources, timeline, etc.). A detailed communication plan facilitates implementation : external (to inform end customers, local actors, administrators or members, but also competitors) and internal, aimed not only at informing internal stakeholders (support and/or commercial functions, social partners) but also involving them in the process.
Major gains of a strategic plan
Meaning
A sense of purpose. Clear objectives broken down into activity and performance plans.
Resilience
Greater resilience of the organisation as a whole.
Clarity
Clear objectives set out in activity and performance plans, and better optimisation of human and financial resources.
Implementing a large scale project
Our client is a regional subsidiary of a major French banking group. It had defined its 10-year vision and the management wanted to turn it into a business plan, broken down into strategic projects, and involving all its teams.
More than 3,000 managers, employees, directors and social partners were involved in this project.
Spirit Advisors’ advantage : combining knowledge of the banking sector with specialists in business transformation, societal foresight and voice of the customer analysis.
