The virtuous circle of mutuality
A Yorkshire Building Society case study

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Page 7: Creating a new vision

In order to create a successful strategy it is necessary to create a way of thinking and acting that runs right through an organisation. At the apex of this way of thinking, it is essential to set out the values which will filter into everything the organisation does. At the Yorkshire Building Society this is set out in the form of a vision statement.

"To bring the benefits of membership to an increasing number of people."

These values are then crystallised in a series of aims which set out what is to be achieved. The aims provide the 'ends' to be strived for.

The 'means' to achieving these ends are set out in a strategy which establishes how these ends will be arrived at.

However, none of this will come into place if it simply remains at the top level of planning. The next step is to make sure that the values are put into practice at ground level i.e. what actually happens within the organisation at operational level. All of this can be seen in what is termed the VAST planning pyramid.

In creating the strategy to drive the Society forward, performance improvement has been established as a key part of the culture of the organisation. In addition, investment is seen as the key to reducing costs. Investment in technology and investment in people are at the heart of this strategy, enabling the organisation to deliver the service quality improvements. Organisation development is the means for ensuring that the structure, reward systems and culture are all in line with the aims of the Society.

Yorkshire Building Society | The virtuous circle of mutuality