Strategic planning and implementation in soneri bank business essay

Process of Strategic Planning and Implementation Strategic Planning is systematic procedure to establish the long term objectives of an organization and the policies and strategies that oversee the achievement, use and disposition of resources to accomplish the vision and mission of firms. It is basically the responsibility of senior management.

Each activity deserves dedication and planning, which means that organisations need sufficient time to be able to implement a functional program. Short-term projects normally take less than 3 years and they do not qualify to be part of the strategic plan.

In order for Eagle Bank to deal with the low levels of awareness, low brand recognition, absence of comprehensive corporate social responsibility program and bank wide unity of purpose, there should be a plan to make the bank financially sound and attain integrity as well as making the bank a household name. In doing this, the bank would;

The department of the bank responsible for marketing will be in charge of monitoring the strategic plan’s implementation in the various departments. Every department within the bank will be charged to submit report detailing their progress on the strategy implementation on monthly, quarterly and annual basis.