The exampleBank executive team is progressing through an initial pass of the strategy process. They just scanned the environment for trends and forces and brainstormed opportunities and threats. A self scan will be limited because exampleBank does not yet exist! But there are some strengths and weakness to make note of.
- exampleBank has a unique opportunity to start from zero, with no legacy costs or constraints.
- exampleBank does not yet have a proven business model. The selected business model, however scrutinized, will contain assumptions about customers, competitors, suppliers, partners, employees and technology.
- exampleBank does not yet have a proven operating model. The operating model, however well designed, will be flawed. Each defect in the design must be painstakingly discovered and fixed — all with minimal effect on customers, suppliers, partners, employees, costs and revenues.
- exampleBank does not yet have a stable production platform. Building and integrating all of the required systems will be a complex effort with many opportunities for failure.
- exampleBank might provide a fragmented customer experience when customers apply for a loan.
Next on the agenda is to validate their findings so far with some banking industry thought leadership.