Up-to-date strategic practices in the banking field in Greece

Abstract

Greek banks struggle to survive in a highly competitive market, characterized by descending growth rates. Therefore, the most valuable survival tool is the use of a solid and successfully targeted strategy. The inquiry of Greek banking sector’s strategic level reveals the use of simple strategic practices and the lack of a coherent strategic formula, focused on the main strategic goals, which would align these practices and communicate them to the whole organization. The purpose of this paper is the presentation of five world-widely used coherent strategic models but in a different way from the isolated one used so far. All five strategic models are presented under the same practical and useful formula “Application in 5 steps” and this presentation results in a multi-factor comparison of these proposed strategic models.

JEL Classifications: L11, L86, M31