A Strategy Modelling Technique for Financial Services

Abstract

Strategy planning processes often suffer from a lack of conceptual models that can be used to represent business strategies in a structured and standardized form. If natural language is replaced by an at least semi-formal model, the completeness, consistency, and clarity of strategy descriptions can be drastically improved. A strategy modelling technique is proposed that is based on an analysis of modelling requirements, a discussion of related work and a critical analysis of generic approaches to strategic planning. The proposed conceptual model is used to derive a generic strategy description framework. An industry specific extension for retail banking and application experience from using the proposed modelling technique in Swiss retail banks is summarized.