The workshop to update and prepare the strategic plan for the Cooperative and Agricultural Credit Bank (CAC Bank) was concluded yesterday, Tuesday, under the title: "Strategic Planning Using the Balanced Scorecard" for the bank's male and female employees in Aden.


The workshop was held from July 28 to 30 of the current month, with Prof. Dr. Murad Muhammad Al-Nashmi, an expert in strategic institutional development at the Arab Academy for Administrative and Banking Sciences,  43 participants from the bank's branch managers and employees took part, during which the participants received the scientific and practical concepts on the final work requirements for updating and preparing the bank's strategic plan to ensure high-quality and effective outputs that meet the level of aspirations and ambitions.


The Assistant Director of the Business Development Sector at CAC Bank, Mohammed Abu Hatem, stressed the importance of continuous reliance on strategic planning to cite and justify major business moves and decisions and make them ostensibly justified and based on logic and reason.


He said that this also encourages team leaders and employees to be more transparent with their team members regarding their plans and objectives.


Abu Hatem pointed out that strategic planning is more than just direct business growth, as it also helps clarify objectives for employees and stakeholders in the medium to long term and how their work is derived from the larger goal, as it is one of the issues that both investors and employees fear the most. This is when they feel that management is making random decisions without any clear guidance on how to help meet the requirements of the final business objectives, as the strategic plan helps build the confidence of investors and employees in management and build a culture of transparency in business operations.