Supporting a regional bank to align its leadership around a new strategy
Supporting a regional bank to align its leadership around a new strategy
Our client was a publicly-listed regional bank that holds $4.5 billion in customer deposits on behalf of almost 150,000 customers.
The bank sought consensus among leaders to deliver its new strategy
The bank was developing a new business strategy, characterised by ambitious growth plans, technology-enabled service delivery and customer-centricity. It engaged Nous to facilitate executive and board strategy days and to align senior leaders to realise the growth plans. We were then invited to support the bank in refreshing its values to enable the organisational culture required to achieve its strategic goals.
Nous facilitated strategy days and co-designed new values
To help the executive form a common understanding, we designed and facilitated a two-day offsite session. We used data and provocations to foster high-quality conversations on the bank’s goals and the priorities and actions to achieve them.
The Nous team were a pleasure to work with and delivered to a very high standard. They consulted thoroughly, challenged thinking and provided alternative perspectives. They were excellent facilitators with the ability to manage multiple perspectives and guide teams to consensus.
Senior executive, regional bank
We supported the bank to use these outputs to develop a strategy on a page. We then facilitated a board strategy day, in which conversations explored the strategy’s implications, trade-offs and key risks.
The executive and board agreed the company culture needed to better reflect the new strategic direction, so Nous guided a refresh of the purpose, mission and values. We facilitated a co-design session with stakeholders to define the new values, using design criteria and a first principles approach. We developed draft purpose, mission and values (with underpinning behaviours) and tested them with internal stakeholders.
Using our expert visual designers, we developed visual artefacts to communicate the new values. We guided the bank on embedding the values and a plan for implementation, drawing on our expertise in culture change, including Nous’ Seven Cultural Levers:
Clearly defined strategy and new values laid the foundation for growth
The strengthened alignment among the executive and the board laid the groundwork for a successful capital raising. Together with the new values and an implementation plan, it will enable the bank to execute on its targeted growth strategy.
What you can learn from the bank
- Committing to an ambitious strategy requires strong alignment and conviction among senior stakeholders.
- Creating an environment where the executive can spend quality time together to connect, collaborate and converse leads to shared commitment.
- Reviewing and aligning culture when developing a new business strategy ensures successful execution.
