Search
  Advanced Search
 
Journal search
Journal cover: Handbook of Business Strategy

Handbook of Business Strategy

ISSN: 1077-5730
Currently published as: Business Strategy Series

Online from: 2000

Subject Area: Strategy

Content: Latest Issue | icon: RSS Latest Issue RSS | Previous Issues

 

Previous article.Icon: Print.Table of Contents.Next article.Icon: .

Making strategic planning work: a case study of Countrywide Financial


Document Information:
Title:Making strategic planning work: a case study of Countrywide Financial
Author(s):Eric Flamholtz, (Professor of Management in The Anderson School at UCLA and President of the Management Systems Consulting Corporation that he founded in 1978. He can be reached at ef@mgtsystems.com), Stanford Kurland, (President and Chief Operating Officer of Countrywide Financial Corporation (NYSE: CFC). He is also Chairman and Chief Executive Officer for its main subsidiary, Countrywide Home Loans, Inc. He also serves as Chairman for all subsidiaries of Countrywide Financial Corporation.)
Citation:Eric Flamholtz, Stanford Kurland, (2006) "Making strategic planning work: a case study of Countrywide Financial", Handbook of Business Strategy, Vol. 7 Iss: 1, pp.187 - 193
Keywords:Corporate strategy, Organizational change, Strategic planning
Article type:Case study
DOI:10.1108/10775730610618800 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Abstract:

Purpose – Strategic planning is a misunderstood and maligned managerial tool. Most organizations have tried it but relatively few actually achieve success in strategic planning.

Design/methodology/approach – The experience of Countrywide Financial Corporation demonstrates how strategic planning can be used as a key lever for change and describes the benefits that accrued to it through this process. Stanford Kurland, the Company’s COO, engaged Eric Flamholtz to assist with developing a more sophisticated approach to strategic planning at Countrywide. Flamholtz introduced: a template for organizational assessment and development; and a systematic process for strategic planning that had been applied elsewhere with considerable success. The new planning process s became a corporate priority.

Findings – The planning system has also led to a variety of other significant organizational benefits including: a constructive forum for elevating management’s focus from tactical and operational concerns to broader strategic challenges; a shift away from a “silo mentality” to a “Countrywide perspective”; a clear set of priorities to guide operating unit activities and decision-making; measurable objectives that emphasize linkages across organizational boundaries; and greater understanding and communication of the plan throughout the organization.

Originality/value – Kurland was focused on longer-range issues for the company, but most of the other members of Countrywide’s senior management were more focused on short-term competitive success in their own divisions. It led to significant changes and benefits at Countrywide, including a strategic shift in corporate direction.



Fulltext Options:

Login

Login

Existing customers: login
to access this document

Login


- Forgot password?
- Athens/Institutional login

Purchase

Purchase

Downloadable; Printable; Owned
HTML, PDF (200kb)

Due to our platform migration, pay-per-view is temporarily unavailable.

To purchase this item please login or register.

Login


- Forgot password?

Recommend to your librarian

Complete and print this form to request this document from your librarian


Marked list


Bookmark & share

Reprints & permissions