Bank's strategy

Market transformations of the modern economy enable speaking about the necessity of high-quality and quantitative changes in approaches to forming not only short-term aims and plans of conduct of business (especially in the bank), but also about perfection of methods of the strategic planning, update of approaches of domestic banks to forming of financial strategy as fundamental principle for effective activity at the market of bank products and services not only for realization of internal and external financial operations but also in maximally effective co-operation with clients, competitors, businesses, companies which provide concomitant (consulting, insurance, credit) services. Practice of the use of such concepts as "mission", "aims", "strategic seeing of tasks of activity", "conception of existence" without real financial basement for them in a long-term period and the proper financial planning already practically exhausted itself. Like methods which lean against the exceptional observance of the planned indexes and conservative approach to the financial management of bank, adequate answers are not given for the reality of the banks' market, especially towards expectations of users and actions of competitors, which more actively begin attracting not only foreign capital, but also foreign standards of methods of management of both internal and external processes of activity of bank (above all things - financial, as they are basement for acceptance of operating, skilled, marketing, of communications and informative decisions). That factor leads to the understanding of the problem's essence, that is examined. It is necessary to give determination of financial strategy in the context of different practical and theoretical approaches to its forming of leading specialists of bank, financial and corporate management, and also economists-theorists. At once we have to mark that enough often determination of essence of financial strategy in scientific, popular scientific literature and in the publications from banking and practical business-work is conceptually different.

Above all things, it is necessary to define what a financial strategy as a concept is. On that score specialists-economists and leading theorists of strategic and financial management express different opinions; thus determinations mostly are mutually determined or complement the point of view of other researchers, although there are the exceptions. We will consider more detailed different approaches to determination of financial strategy. Financial strategy as part of the financial planning is often interpreted in a general view as "formulation of long-term aims as quantitative indexes". Some of the experts asserts that "strategy is long-term, high-quality certain direction of development of organization, directed on strengthening of its positions, satisfaction of users and achievement of the put aims", by what confirms the Chandler's position in relation to this question, who defined strategy as such, that is "determination of primary long-term purposes of enterprise and adaptation of courses of actions and placing of resources necessary for achievement of aims".