This plan was created using an abbreviated strategic planning process which entailed twice of two-hour –and-a-half strategy sessions followed by a review and refinement of the resulting documentation. During the strategy sessions, we first assessed our society’s current situation by evaluating data pertaining to members/candidates and the society’s finance. Then we reviewed our mission statement and vision as well as those of CFA Institute, and reached to a conclusion that we basically agreed on those of CFA Institute, as they were deliberately composed, so that we adopt them by modifying the target area from “globally” to “in Japan”.
Next, each committee chair presented products and services they were providing, and we discussed the society’ surrounding circumstances through the SWOT analysis. We also reviewed the results of the member survey we conducted in June. We finally chose “awareness” as the most important theme of the society which comprehensively could cover our activities. Each committee did their homework to develop their strategy focusing on awareness, and submitted strategic goals and objectives of each committee.
Since it seemed inefficient to summarize the strategic goals and objectives at the society level by entire board, a taskforce consisting of five board directors was formed. Then the taskforce held a meeting to prioritize strategic goals and objectives raised by committees, identifying and assessing possible core strategies. Finally, we drafted our strategic goals, identified objectives for each strategic goal, and wrote the strategic plan.
The strategy sessions were attended by twelve (Day 1) and thirteen (Day 2) of the fifteen board directors along with a statutory auditor (Day 2) and administrative staff, facilitated by the president (myself). The taskforce meeting was attended by four of five taskforce members. The draft document was reviewed by the taskforce members first, then by all the board members. A majority of the Board’s comments were incorporated into the final document.
Our strategic plan focuses on four key areas that will propel us towards achieving our mission. These areas included the member value proposition, a broad brand awareness campaign targeted toward employers, leveraging our relationships with industry participants and universities, and enhancement of our governance process. This plan is designed to drive value to our members and broad local investment community.