98 PLANNING IN BANKS Strategic planning is important to the survival of the commer cial bank because without it an organization lacks foresight, goals and objectives when the bank decides, it is time to planning when it should decide which method of planning is the best for its organization. In general banks use 2 different planning methods. The first one is that, bank examine araund what is happenning and what will happen determine the strengths and weaknesses then inspite of the weaknesses, plans how to survive. The second one is that, the bank develops objectives and goals and choose the right planning method to reach objectives of the organization.97 4. Monitoring and Control The final step in planning process is monitoring and control. Initially, it should establish what should be monitored. Obviously goals and objectives which require most attention should be moni tored on an ongoing basis. Secondary goals and objectives can be monitored by depart ment heads and managers who have closer contact with activities related to those specific targets. This process never ends. All changes effects strategic direction for thet documents must be updated in a semi-annual, of not quarterly basis. 5. Presentation of Planning Data and Result More importantly, as planning goals, objecting strategies and actions are revised, the board and management can gauge the impact of alternative senarios and actions on a financial return basis. Revisions to the original strategic planning document should have as which credibility as the original projections with all proce dures and methodologies being equal.98 PLANNING IN BANKS Strategic planning is important to the survival of the commer cial bank because without it an organization lacks foresight, goals and objectives when the bank decides, it is time to planning when it should decide which method of planning is the best for its organization. In general banks use 2 different planning methods. The first one is that, bank examine araund what is happenning and what will happen determine the strengths and weaknesses then inspite of the weaknesses, plans how to survive. The second one is that, the bank develops objectives and goals and choose the right planning method to reach objectives of the organization.97 4. Monitoring and Control The final step in planning process is monitoring and control. Initially, it should establish what should be monitored. Obviously goals and objectives which require most attention should be moni tored on an ongoing basis. Secondary goals and objectives can be monitored by depart ment heads and managers who have closer contact with activities related to those specific targets. This process never ends. All changes effects strategic direction for thet documents must be updated in a semi-annual, of not quarterly basis. 5. Presentation of Planning Data and Result More importantly, as planning goals, objecting strategies and actions are revised, the board and management can gauge the impact of alternative senarios and actions on a financial return basis. Revisions to the original strategic planning document should have as which credibility as the original projections with all proce dures and methodologies being equal.98 PLANNING IN BANKS Strategic planning is important to the survival of the commer cial bank because without it an organization lacks foresight, goals and objectives when the bank decides, it is time to planning when it should decide which method of planning is the best for its organization. In general banks use 2 different planning methods. The first one is that, bank examine araund what is happenning and what will happen determine the strengths and weaknesses then inspite of the weaknesses, plans how to survive. The second one is that, the bank develops objectives and goals and choose the right planning method to reach objectives of the organization.97 4. Monitoring and Control The final step in planning process is monitoring and control. Initially, it should establish what should be monitored. Obviously goals and objectives which require most attention should be moni tored on an ongoing basis. Secondary goals and objectives can be monitored by depart ment heads and managers who have closer contact with activities related to those specific targets. This process never ends. All changes effects strategic direction for thet documents must be updated in a semi-annual, of not quarterly basis. 5. Presentation of Planning Data and Result More importantly, as planning goals, objecting strategies and actions are revised, the board and management can gauge the impact of alternative senarios and actions on a financial return basis. Revisions to the original strategic planning document should have as which credibility as the original projections with all proce dures and methodologies being equal.98 PLANNING IN BANKS Strategic planning is important to the survival of the commer cial bank because without it an organization lacks foresight, goals and objectives when the bank decides, it is time to planning when it should decide which method of planning is the best for its organization. In general banks use 2 different planning methods. The first one is that, bank examine araund what is happenning and what will happen determine the strengths and weaknesses then inspite of the weaknesses, plans how to survive. The second one is that, the bank develops objectives and goals and choose the right planning method to reach objectives of the organization.97 4. Monitoring and Control The final step in planning process is monitoring and control. Initially, it should establish what should be monitored. Obviously goals and objectives which require most attention should be moni tored on an ongoing basis. Secondary goals and objectives can be monitored by depart ment heads and managers who have closer contact with activities related to those specific targets. This process never ends. All changes effects strategic direction for thet documents must be updated in a semi-annual, of not quarterly basis. 5. Presentation of Planning Data and Result More importantly, as planning goals, objecting strategies and actions are revised, the board and management can gauge the impact of alternative senarios and actions on a financial return basis. Revisions to the original strategic planning document should have as which credibility as the original projections with all proce dures and methodologies being equal.98 PLANNING IN BANKS Strategic planning is important to the survival of the commer cial bank because without it an organization lacks foresight, goals and objectives when the bank decides, it is time to planning when it should decide which method of planning is the best for its organization. In general banks use 2 different planning methods. The first one is that, bank examine araund what is happenning and what will happen determine the strengths and weaknesses then inspite of the weaknesses, plans how to survive. The second one is that, the bank develops objectives and goals and choose the right planning method to reach objectives of the organization.
