Name
Strategic Management in the "Never Again Normal"; Case: Central Bank of the Dominican Republic
Date
Thursday, May 19, 2022
Time
2:10 PM - 3:10 PM
Description

The assurance of the delivery of value in the current environment of any Industry, is subject to sources of rapid change to which Organizations must be able to adjust (The Next Normal: Business Trends for 2021 - McKinsey, 2021). The Public Sector and the Central Bank are not exempt.    In this changing and uncertain new normality, new skills are demanded from people and organizations. In these complex environments traditional models do not work, we must switch to more agile and innovative models. Contemporary Strategic Management must act as a manager of change, resilience and service; supported by values, in the creation of collaborative and self-managed teams. A Strategy must be a specific and coherent response to the obstacles that must be overcome (Good Strategy, Bad Strategy, Richard Rumelt).    Organizational Strategic Management is the administrative tool used by Central Banks, and Public Sector organizations, to define their plans at different terms, the route to follow them, and ensure the construction of the necessary capabilities to face the current changing environment.    This presentation shares the experience of the Strategic Formulation and Management process of the Central Bank of the Dominican Republic, and how it has been adjusted to operate in the “Never again normal”: Transformation, lessons learned and the way in which the Organization responds to the new cross-cutting challenges in all Industries.
 

How does this session align with the conference theme "Strategy in a 'Right Now' World" and topic areas
By the review of the process of Strategic Management of the Central Bank of the Dominican Republic, its gonna cover this topics promoted by ASP: severe weather events, cultural shifts, geopolitical struggles, cybersecurity incidents and, COVID