Strategic Change Management:
Managing Innovation, Risk and Operating Expense
Business Plan Development
Success requires strategic and change management coupled with stakeholder coordination/communication.
"The primary challenge is to free the innovative spirit without creating chaos and unnecessary expense. Companies that can harness innovation will be in leadership positions." Jeff Bardos, Founder
Small and medium-sized financial institutions face an existential problem: slow top-line growth coupled with rising operating expenses, in part due to increasingly complex regulations, mandated costs and taxes. To thrive in the near-term environment, these businesses must innovate and grow and control the level of operating expenses without an unacceptable increase in regulatory, operational or reputational risk. Across-the-board cuts in operations groups, compliance departments, or customer service groups are not winning solutions. Potential improvements and cost reductions should be analyzed in the context of the institution’s strategy, segment profitability, market position and regulatory status. Creative outsourcing, efficient technology deployment and insightful channel management can lead to lower operating expenses, acceptable risk levels and improved customer service.
Strategic Change Management
A disciplined approach reduces time to market, improves ownership and morale and reduces operational risks.
Strategic Analysis and Planning
Recognizing interdependencies early in the planning process is critical to on-time and on-budget results.