At the suggestion of Board Chair Peter Peitz, Westover Strategy had been retained to develop a high-performance board toolset and handbook for Missouri-based Branson Bank. In the course of working with the board, Westover noted that the bank’s strategic plan had some gaps that should be addressed in parallel with the high-performance board project.
Westover was engaged to facilitate a strategy offsite with the bank board and senior staff and produce a 3-Year Strategy Map. The Map was drafted during a 2-day offsite and finalized afterwards. Westover also provided advice to CEO Bill Jones and the Board on the communication and execution of the Map.
CEO Bill Jones presented the Strategy Map to all associates. The associates were pleased to better understand the bank’s mission and vision and to see how their performance contributes to the bank’s success. The senior staff is leading the execution of the Map and using its contents to refine the bank’s approach in a variety of areas, such as community initiatives, customer engagement, technology, human resources, culture and more.
The bank shares progress towards Strategy Map targets with the Board each quarter. The Board and associates value the Strategy Map highly. It is used in numerous ways, including communication with customers, associates, community, regulators and shareholders.