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| Friday, 14 November 2003 |
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BoC unveils strategic plan-based on MTI's 8S The Bank of Ceylon (BoC) unveiled their MTI's 8S based strategic plan, to further strengthen their position in the market for financial services. The Bank of Ceylon strategic plan is the culmination of four months of interactive workshops and research initiatives undertaken by a wide cross-section of the BoC team and facilitated by MTI Consulting. Commenting on the strategic planning process, Mrs. Sumi Moonesinghe, Chairperson of the BoC said: This important process involved the entire Board attending residential consulting sessions to develop a research-based top-line strategy. This is the level of importance attached to this exercise by the bank". "The strategic plan and the implementation plan (based on MTI's Synergizer) was developed by our Corporate Management Team, supported by a cross-functional Project Team. In addition, Branch Managers, AGMs and the Unions were involved in this highly interactive learning experience for the Bank of Ceylon" said Palihena the General Manager of the Bank. The new strategic planning for the BoC focuses on six key strategies (covering consumer, commercial and corporate segments), augmented by internal service and external corporate image initiatives. The structural initiatives look at setting up a consumer marketing unit, the appointment of a Head of Marketing (a first for BoC) and more strategic management functions. Major staff motivation initiatives will be launched very soon, including 'Taking Management to the Grass roots'. MTI's Bahrain-based CEO and the international business/marketing strategy expert with experience in over 40 countries, Hilmy Cader led this project for MTI. "Our financial services experience in the Middle East/North Africa has given us some good learnings in emerging international markets", said Hilmy Cader. The 8S Model is MTI's primary consulting solution which is being used by clients in over 20 countries, across a diverse range of products and services. It is a broad spectrum, sequential model that starts with the scope of the business through Strategy to Systems. It is a comprehensive model that also covers Structure. staff, Systems and Social Responsibility. Commenting on the practicality and user-friendliness of the model, MTI's Associate Consultant Trihan Perera said "It provides a strong and direct link to the bottom-line at every stage of the model and is linked to a very practical Implementation Plan (Who? does What? and When?)" |
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