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1st franklin strategic plan 2012 2014


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1st franklin strategic plan 2012 2014

  1. 1. 2012-2014 St ateg c Strategic Plan
  2. 2. Core Values
  3. 3. Mission Statement
  4. 4. Vision Statement
  5. 5. Vision Statement
  6. 6. 1st Franklin Financial Corporation
  7. 7. Grow existing and potential new products and services, to maintain a business model that optimizes earning power.   We will continue to effectively manage the Company’s investment portfolio to maximize yield.   Overall growth as a result of these initiatives will be a 25% increase in revenues by December 31, 2014. revenues by December 31  2014
  8. 8. Branch Expansion Strategy Objective  Open 15 20 New Branches in  Open 15‐20 New Branches in  southeastern market areas Investment Income Strategy Objective  Maximize Investment Income
  9. 9. Acquisitions Strategy Objectives    Refine Bulk Purchase Process Develop Bulk Purchase Teams with  differentiated expertise Develop a Software solution for Bulk  Purchase initiatives
  10. 10. Earning Power Strategy Objectives     Optimization of Product Mix and  Earning Power Ensure Individual Branch Earning  Plans in Place Monitor earning power processes Provide Training on Earning Power
  11. 11. Investment Center Strategy Objective  Continue to be one of the primary  sources of funding for the Company Motor Club Strategy Objective  Actively seek additional opportunities  f for expansion of the program p f p g
  12. 12. Real Estate Product Strategy Objective  If Final Regulation is acceptable  consider Redesigning Real Estate  products in states, as required
  13. 13. Sales and Finance Strategy Objectives     Develop Targeted Merchant base Develop and enhance tools to  differentiate a targeted merchant  base Develop tools to increase market  share of Sales Finance Accounts Enhance training programs and sales  finance marketing materials  fi k i i l
  14. 14. Increase our total corporate assets to $535 million by I l $ 3 illi b December 31, 2014. As a part of this goal we will open 15 - 20 new branches in existing and new markets in the southeastern states. In addition, we will continue to grow our customer base through expansion goals in existing operations. Have a minimum 14.5% pre-tax income to revenue p annually and 17% average pre-tax income to revenue during the three-year period ending on December 31, 2014. This will be achieved by continuing to maximize earning power and exercising appropriate expense control. Maintain adequate liquidity through funds provided by operations and financing sources sources.
  15. 15. y gy Recovery Center Strategy Objectives Open additional Recovery Centers  p y Develop specialized staff for  Recovery Centers  Implement Best Practices and  p e e t est act ces a d Lessons Learned in new Recovery  Centers  Define policies for advanced  collections and train accordingly    Research alternative collection models  f for skip tracing p g
  16. 16. Collections Attorney Strategy Objective  Develop and maintain collection  atto ey elat o s ps attorney relationships 
  17. 17. Continue to develop a highly effective leadership system which enables  leaders to forecast future human resource needs and manage talent,  both for skill development and succession planning. The system allows  people to develop the skills necessary for current assignments, as well  as for possible future roles.  Management will continue to leverage technology, specifically in the  area of project management and processes, to support the  accomplishment of strategic goals.   Senior managers will continue to monitor the economic and regulatory  e environment to ensure that the Company remains well positioned to  o e t to e su e t at t e Co pa y e a s e pos t o ed to effectively execute our business strategy.   Senior Management will also continue to communicate corporate goals  and direction through the organizational structure and ensure that  appropriate follow‐up measures are enacted as necessary.   pp p p y Lastly, and in keeping with our core values, Senior Management will  continue to set the tone to instill accuracy and accountability  throughout the organization. While some specific separate elements of  g p , p “Succession Planning” will be implemented earlier, the complete  structure and process will be fully implemented by December 31, 2014.
  18. 18. Objectives   Benchmark compensation and  insurance packages Resume College Recruiting g g
  19. 19. Succession Planning Strategy Objective         Development of Comprehensive Succession  Planning Process Implement Best Practices for Design of  Succession Planning Role Specific Support Assignments Devise a Succession Plan Statement of  Values Develop Bench Strength Explore additional features of  SuccessFactors Software Add Full Circle – Multi‐rater assessment  Add F ll Ci l   M lti t   t  processes to Development Redesign the Development Plan Process
  20. 20. Communication Strategy Objectives   Communicate Corporate Goals and  Vision Provide Framework for Effective  P id  F k f  Eff ti   Communication System Implement Best Practices for  soliciting input from  pp p appropriate resources  Update Internal Web‐site  
  21. 21. Project Management Strategy Objectives Refine Project Management Process Achieve Project Management  Maturity by December 31, 2013  Achieve Certification and Formal  Training for Project management  professionals in PM Department  Implementation of Microsoft Project  2007 Web Enterprise  I Implement processes for a central  l    f     l  repository  
  22. 22. Quality Improvement  Strategy Objective  Instill accuracy and accountability for  y yf quality throughout the Organization Economic and Regulatory  Environment Strategy Objectives Objecti es   Industry Association Leadership Educate Congress about Installment  lending
  23. 23. Expand our existing markets, promote  visibility of new offices to accelerate  growth of new markets with our products   h  f    k   i h    d and services, and address changing  g p demographics of our customer base  through new delivery systems or services.  We will identify opportunities created by  the economic environment and capitalize  on a changing/growing customer base.  
  24. 24. Objectives Obtain data mining tools to  Segment Marketing Niche  Segment a Target Market 
  25. 25. Demographic Profile   Strategy Objectives     Appeal to Generational Market  Segments S t Measure impact of Hispanic Market Provide Branch employees with  Customer Response Data Provide Marketing Support Training g pp g
  26. 26. Technology will continue to be a  primary business driver.  primary business driver   We will continue to leverage  technology for all aspects of our  gy p business operations.   We will continue to utilize best practices  to protect data and confidential  t   t t d t   d  fid ti l  information from unauthorized access.  
  27. 27. Systems and Platforms Strategy  Objective  Identify and Maintain Systems  and Platforms f Security Strategy  Objective  Build and Maintain a Model of  f Security
  28. 28. Benchmarking Strategy  Objective  Implement Bench‐Marking as a  Implement Bench Marking as a  Best Practice Information Strategy  Objective  Utilize technology to support  informational technology