Strategic planning is a management tool. It is used to help a company clarify its future direction - to focus its energy and to help members of the organization work toward the same goals. The planning process adjusts the organization's direction in response to a changing environment. Strategic planning is a disciplined effort to support necessary decisions and actions that shape and guide what an organization is, what it does and why it does it, with a focus on where it wants to go and how it is going to get there.
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Lorenzo V Tan is known in the banking industry as "Mr. Turnaround" for his knack of improving the economic performances of the various financial institutions he presided over. At Philippine National Bank, he led its rehabilitation program and its return to profitability. During his tenure at RCBC, he repositioned and grew the bank to become one of the largest private universal banks in the Philippines.
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