Are Long-term Objective (LTO) and Strategic Issues good and how to add them in the table Strategic

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Question:

Are Long-term Objective (LTO) and Strategic Issues good and how to add them in the table

Strategic Issues:

1.Increasing competitors: Increasing competition in the banking sector, in addition to exchange companies.

2.High expectations: The customer has become more aware and smart, the consumer wants the service to reach his position through the phone. Electronic payment has become a goal that must be applied to confront technology.

3.Training and incentives for employees: Training employees increases the possibilities of customer satisfaction. In addition to providing incentives.

4.Security breaches: With a series of high-profile breaches over the past few years, security is one of the leading banking industry challenges, as well as a major concern for bank and credit union customers. Financial institutions should invest in the latest technology-based security measures to keep sensitive customers safe.

Long-term objective (LTO):

1.Introducing 10 new products by 2023 that will keep customers, especially since the competition is strong.

2.Providing electronic services and establishing networks and communication channels with customers by 20% before the end of 2023.

3.Providing support to employees helps to understand the role they play within the organization and thus achieve customer satisfaction in a way that reaches 95%.

4.Providing secure financial services is a reason to keep the institution in the market for another five years.

Activity

Who

When

Resources

Methods

3. Metrics

Assumption

1.1. Organizing a training program with instructor of marketing, entrepreneurship and business development participating

1,2. Recruitment and hiring of a business incubator curriculum development expert from overseas

1.3. Purchase of software and business incubator kits and make them instructors and students

Staff Development Office; The R&D Office

Human Resource; setting up a committee recommending the selection, identify a PR firm specializing in BI trainers,

IT unit; Principal’s Office

6 months for development of training curriculum (with two regular trainings through the life of the strategic plan)

3 months for the recruitment followed by a three-month assignment

It will take place in year 2 of the strategic plan

2 TEACHER TRAINERS

Budget for two part-time contracts (2k each);

Reserve a training facility for 2 months;

Transportation

A 5k contract for the period od 2020-2021; accommodation, flight ticket, transportation, health insurance, visa costs

3. 6 training kits, photocopying

1. 10 half-day workshops, follow-up meetings on monthly basis; creating a taskforce to evaluate training impact.

Announcement of vacancy in local newspapers, word of mouth, engagement of HR office in background research; invite the top two candidates for a community visit

Amazaon.com, Sage; offering training packages to all teachers at beginning of the year