Implementing the strategic formulation framework for the banking industry of Hong Kong

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Abstract
Applies a new strategy formulation instrument (named as the strategy formulation (SF) framework), which is geared for an Asian (Chinese) culture within the banking industry of Hong Kong. In particular, the focus will be on a case study of the ABC Bank. The ABC Bank remains one of the more conservative banks in Hong Kong. Its major advantages are that it only deals with inter‐banking, and corporate banking. It has no bad debts and is extremely cash rich. However, because of its conservativeness, it remains a very low profile bank within the Hong Kong market. The main objective of this paper is to develop a set of strategies for the organization based on the SF framework. The SF framework is a combination of the SWOT analysis, the balanced scorecard (BSC), and Sun Tzu’s Art of Business Management in Strategic Planning, via the quality function deployment methodology. This new strategic management instrumentation was developed by Lee and Ko. The SF framework is unique because it integrates strategy formulation tools from both the Eastern and Western cultures, and its flexibility allows intercultural adaptations for most organizations.