Results for Strategic Planning

From 5 months of planning to guest speakers from the industry, these credit unions know how to prepare for the biggest meeting of the year.

A strategic plan is a document where you write your business goals and strategies to reach them. Learn how to write a strategic plan for your business.

Environmental, Social, and Governance (ESG) factors refer to key elements commonly used in assessing the sustainability and societal impact of an organization. Attention to ESG should not be used as window dressing or for crafting anecdotal stories devised to make a company appear environmentally and socially responsible. For credit unions, it goes well beyond stories. It […]

Strategic planning furnishes a blueprint which assists your businesses in understanding where you are now and where you want to be.

Athletes warm up because it raises the temperature of their bodies and their muscles, readying them for high performance. The same is true when board members and executives are getting ready for a strategic planning session. They will perform better if they first warm up their thinking. Experts in strategic planning suggest that reviewing external […]

“What we need to do is always lean into the future; when the world changes around you and when it changes against you—what used to be a tailwind is now a headwind—you have to lean into that and figure out what to do because complaining isn’t a strategy.” — Jeff Bezos, Founder of Amazon The […]

Strategic planning ideas are a second thought for many this year. For example, a financial institution executive was recently discussing with me the severe impacts from the pandemic: earnings are tanking, investment income is negligible, fee income is dropping significantly, and loan volume/income is slowing. As a result, the board decided to postpone their strategic […]

Great Clips, Inc. President Rob Goggins knows first-hand how a strategic plan can make a difference for a business during challenging times.

Is rock music better than rap music? Which is more effective, planning or improvisation? Are people inherently good or inherently selfish? Which is more important, individual rights or collective rights? Will America’s future be better than its past? Are low-income people less intelligent than high-income people? Is Wells Fargo the devil? Aren’t credit unions just …

Effective strategic planning events are one of the main differentiators between underperforming credit unions and healthy, growing credit unions. However, making an event effective requires more than simply showing up and putting some dreams on paper. Before diving into the best practices that growth-minded credit unions follow, let’s make two things clear. First, this is the most […]

Did your board and leadership team leave your credit union’s strategic planning session pumped for action last year, but now you’re left standing in front of your ridiculously large sticky notes of your big plans wondering where the time went? Prior to a strategic planning session for a credit union several years ago, the CEO […]

Strategic planning—now there are two words that can strike cynicism and frustration into the hearts of any bank or credit union executive. And with good reason. Financial institutions spend a great deal of time, money and energy on strategic planning, all too often with sketchy results. The refrain goes a little something like this: “Year […]

How much planning goes into your strategic planning event? I mean, besides choosing the venue and lunch menu. How much time do you spend thinking about the previous 12 months and dreaming about the 12 to come? If you’re tired of spending an entire day in a chilly hotel conference room talking about big ideas […]

For far too long credit unions have owned 8% of the market or less nationally. We are too good to be satisfied with that outcome. Real transformations are needed and must start with the planning process. However, the majority of businesses are not satisfied with their strategic planning efforts. The estimates of failed plans are …

Strategic planning describes the process executives use to identify set goals and objectives for their organization and create a blueprint for the future.

Strategic planning goes on forever as objectives are met and new opportunities and challenges emerge.

Finding new ways to improve business processes is a great way to boost profitability, but it also requires credit union leaders to step outside of their comfort zone, which is challenging if you’ve always worked in a particular industry accustomed to certain products. Innovating carries inherent risks. Sometimes the return on an investment doesn’t appear […]

As employees embrace a new, flexible way of working, cyber security concerns continue to rise across the globe. Since the start of COVID-19, the FBI reported a 300% increase in cyber crime. According to the UK government 46% of businesses have faced a cyber breach in the last 12 months. It’s never been more important to protect your […]

I’ve led strategic planning sessions with senior leaders at some of the nation’s leading credit unions over the last 30 years, and what I’ve learned in the last two months is that this year is profoundly different for planning. People need to be ready to adapt on so many levels. I’ve identified what I believe […]

What is the most important thing to do before problem solving? Gain perspective. The only way to gain perspective is to ask a lot of questions. It’s one of the rules we emphasize with boards and leadership teams prior to facilitating strategic planning sessions for credit unions. Before throwing ideas out, you must gain perspective on […]