Approach to Strategy Development

The strategy Development process can be broken down into:

  • Inputs: Assess  internal and external factors  (Risk Appetite, Regulations, Trends, etc.)
  • Current State Assessment: Perform a current state assessment across the Organization, Customer and Market dimensions
  • Strategy Development: various analysis mechanisms can be adopted to help formulate the strategy
  • Outputs: the key output is the strategic objectives (sometimes the

    Mission, Values and Vision need to be adjusted)

The diagram below explain depicts the 4 components to Strategy Development:

Notice the bottom layer, this is the scope of the Strategy Development. Sometimes scope can just be one department, other times in can be the entire enterprise. In this case I have assumed that scope of this hypothetical project would be JP Morgan enterprise and have detailed out the 6 Lines of Business.