Branson Bank
Strategy Map 3.0
CHALLENGE
Branson Bank is an innovative, locally owned and managed community bank based in Branson, MO. The bank is very involved with and supportive of its community. Leveraging its strong culture, the bank successfully implemented its 2020 - 2023 Strategy Map, despite significant disruptions from the pandemic and industry trends. CEO Bill Jones engaged Susan Byrd to develop a new Strategy Map to guide the bank for the years 2024 - 2026.
APPROACH
Susan recommended 3 changes from the previous map:
- Increase focus by limiting the number of objectives.
- Improve accountability by establishing lead and lag measures.
- Balance responsibility by selecting Executive Owners for each objective and a Strategy Map Champion to oversee implementation.
Her proposal reflected these major components:
- SWOT - Strengths, weaknesses, opportunities, and threats analyis, based on interviews with board and senior staff.
- Offsite - 1.5 day offsite with the board and senior staff to draft the map, facilitated by Susan.
- Post-Offsite Refinement - a small team worked with Susan to refine the map before discussing it with the full group that participated in the offsite. Board approval was then requested and received. Susan provided advice on communicating the map.
RESULTS
Branson Bank kicked off the the 2024 - 2026 Strategy Map in early 2024, at meetings attended by all associates. The senior team reviewed the map and fielded questions. Follow-up meetings were held to make sure that all associates:
- Understand and support the new map
- Appreciate how their work supports the bank's mission and vision
- Embrace who Branson Bank is, where the bank wants to go, and how it will get there.
The team is enthusiastic about both the map and the new roles of Strategy Map Champion and Executive Owners. The new roles will increase accountability and balance responsibility, while engaging and educating associates. The Strategy Map Champion will facilitate a Quarterly Tracking Report on progress towards meeting the map's objectives, that will be shared with the board and internally.
We have enjoyed a successful partnership with Susan Byrd for several years. She has guided us in strategic planning and, importantly, advised us how to better communicate strategic priorities throughout the organization. In particular, the strategy map concept has been an excellent tool to prioritize, communicate, implement, and manage strategic objectives. We believe this is a key differentiator for our company. We recently completed our third engagement with Susan, that included updating our 3-year Strategy Map. It is a comprehensive plan that will no doubt keep our company successful by continuing to achieve the desired results. Susan is a thoughtful and engaging professional who interacts well with stakeholders at all levels. I highly recommend her as a consultant who can help bring about desired organizational change.
Having had little involvement with the previous Strategy Map, I was not sure what to expect. I found Susan's process inspiring and encouraging for management. Working together in small groups with our board members helped grow relationships across the organization. The new approach of having Executive Owners for each objective, along with fewer objectives, has many of us energized to tackle the work ahead. It makes the process feel more approachable and manageable. Thank you to Susan for her direction and guidance leading us toward three more successful years.