I was recently requested by an investor to study the possibility of setting up a new takaful in any strategic country. As it is highly confidential, I am not able to disclose the detail pertaining the request and parties involved. Anyhow, I had provided them with preliminary strategic plan which can provide some guidance in the decision making. Here are the outlines of the strategic plan which I would like to share.
1. Vision
2. Mission
3. Critical Success Factors
4. SWOT Analysis
5. Gap Analysis
6. Strategic Objectives
7. Strategic Initiatives
If the strategic plan is carefully constructed, it will provide a clear future path for the company and each individual in the organisation pertaining their specific role in achieving the corporate goals. The plan will also help in cascaded down the KPIs as part of the Performance Management System.
The strategic plan is a manifestation of the Balance Scorecard based on the four quadrants, ie. Financial, Customer, Process and Learning & Growth.
