Strategic Planning in Banking: What A Joke

I don’t how USAA would describe its business strategy, but the following would work for me:

Serving the financial services needs of the military.

A strategy purist might take issue with this, asserting that it’s a positioning statement, defining a target market, but not necessarily a strategy for serving that market.

I’d argue that point. There’s a lot implied in the statement above:

1) Members of the military have unique financial services needs that need to be identified and served.

2) Serving the military requires an FI to develop and sustain a set of capabilities that are superior to what other FIs have in order to profitably serve this segment of the market.

3) The military is a sufficiently large segment of the market to sustain USAA.

Read more at Snarketing 2.0

Strategic Planning in Banking: What A Joke

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