JP Morgan Chase Strategic and operational plans based on the SWOT analysis

 Strategic and operational plans based on the SWOT analysis

Strategic Plan  

(JP Morgan Chase & Co, 2013)

·         To improve the efficiency and effectiveness of JP Morgan Chase policies to maintain the stability of the domestic purchasing power of the domestic currency (dollar).

·         Contribute to the economic and social development through research, proposals and actions to deepen the plural economy model.

·         To efficiently manage the core banking operations, (national and international).

·         To develop and implement mechanisms for communication, internal and external institutional relations of JP Morgan Chase to ensure effective coordination all related parties.

·         To improve administrative management model under the criteria of quality, timeliness and efficiency.

·         Strengthen effective prevention and coordination mechanisms for transparency and to avoid possible corruption.

·         Implementing business management continuity with the US Treasury, through the integration of risk management, contingency, security, infrastructure, information, and communication technologies.

Operational Plan (JP Morgan Chase & Co, 2013)

·         Maintaining price stability

·         Promoting stability and strengthening the financial system and the efficiency of the payment system

·         Optimize the execution of open market operations

·         Make more efficient exchange operations

·         Increase the effectiveness of regulation and supervision of financial and payment systems

·         Increase transparency and accountability

·         Increase the level of institutional productivity

·         Increase the level of human resource development

·         Optimize the use of the information generated by the systems

·         Increase the ability to achieve results and minimize risks

·         Optimize financial management

·         Alignment of departmental functions

How these plans will achieve the related goals

            Monitoring and evaluation are two important management tools to help improve the performance and achievement of  results (Robbins & Coulter, 2012). The continuous monitoring of the guidelines and strategic initiatives of JP Morgan Chase & Co. is conducted through the Operating Plan of JP Morgan Chase & Co., which assesses the effectiveness of implementation strategies to address constraints available when reaching the expected results.
            The final results of the monitoring are particularly important to assess the effectiveness of JP Morgan Chase & Co. programs, which requires the ability to track the outcome of the activities and to measure their contributions with respect to the results of the periodic evaluations.
            Monitoring provides a crucial input to the overall assessment of the Strategic Plan to JP Morgan Chase & Co. The Executive Council is the responsible of monitoring and evaluating the Plan. The annual performance report provides an assessment of progress made ​​with respect to the top level objectives of the Plan and the ongoing relevance of the strategic initiatives used. This evaluation is an important input to the strategic planning process and is used to adjust the direction and priorities (Robbins & Coulter, 2012).
            By monitoring program activities and changes in extreme situations that may affect the performance of the program, JP Morgan Chase & Co. performs evaluations on the effectiveness of their programs.

The effect of planning decisions on the internal and external stakeholders identified

            While setting goals for the enterprise, we cannot forget the internal and external stakeholders. The plan must incorporate and integrate the different stakeholders as much as possible to avoid conflicts between them. Studies confirm that difficulties can be avoided when the Company balance the concerns of the coexisting interest groups (Robbins & Coulter, 2012).

References

JP Morgan Chase & Co. (2013, August 11). Retrieved August 11, 2013, from        www.jpmorgan.com/pages/jpmorgan/investbk/solutions/research/strategy_home.

Robbins, S. P., & Coulter, M. (2012). Management. Upper Saddle River, New Jersey: Pearson      Education, Inc., publishing as Prentice Hall.