Archive for the ‘Strategic Thinking’ Category

Create, Test, & Adjust–Your New Mantra for Change

Tuesday, October 19th, 2010

One of the inherent challenges in leading your credit union is finding a way to change things when things need to be changed.  Volumes have been written about the natural momentum in organizations that gets in the way of implementing even the best ideas.

But my point is not to lament those problems, nor to suggest magical solutions to them.  Instead my goal is to suggest that there is one critical step that needs to be taken before you even consider changing anything the you do in your credit union: Change the way you think about change.

The reality is that change is a part of any growth process.  More important, change always happens incrementally. (more…)

Posted in Creative Ideas, Improving Organizational Effectiveness, Increasing Efficiency, Leadership Development, Strategic Thinking | No Comments »

Strategic Planning: 5 Tips for Not Getting Bogged Down by Doom and Gloom Thinking

Friday, September 17th, 2010

The fall strategic planning season is upon us.  All across the country, credit union boards and leadership teams will be gathering in the coming weeks to define their strategic visions for 2011 and beyond.

One of the key challenges for planning teams this fall will likely be not allowing the ‘gloom and doom’ to dominate the discussion.  That’s not to say that they should ignore the realities they face, or that they should avoid the discussion of negative things.  Those issues and topics need to be discussed.

But equally important is to invest time in exploring the possibilities and considering the opportunities that come from challenging times.  Remember that many of the most successful businesses of all times have been launched during less than booming economic times.

Here are five tips you can use at your upcoming planning session to keep from getting bogged down by doom and gloom thinking: (more…)

Posted in Creative Ideas, Credit Union Strategy, Leadership Development, Strategic Planning, Strategic Thinking | No Comments »

RECOMMENDED READING: Business Model Generation

Thursday, September 9th, 2010

My post last week regarding the “broken business model” generated a few comments and several e-mails.

The range of comments suggested the need for a better understanding of both the concept of a business model and an opportunity for expanding the discussion of alternatives that might revitalize the credit union industry.

That led me to invest a couple of evenings researching the subject, and in the process I came across an excellent book on the subject that I highly recommend to credit union leaders seeking to lead their credit unions into the future.

It’s called Business Model Generation, and here is my quick assessment after an initial reading. (more…)

Posted in Creative Ideas, Growing Your Credit Union, Recommended Reading, Strategic Planning, Strategic Thinking | No Comments »

Strategic Thinking: Can Credit Unions Fix Their Broken Business Model?

Thursday, September 2nd, 2010

At a recent credit union conference, Jim Collins, author of the best selling book Good to Great stated that the business model credit unions rely upon is broken.

No doubt some met this news with a strong pushback fueled by an intense loyalty to the system, by the belief the credit union members are loyal because they receive better rates and better service than they can at other financial services institutions, and by their personal behaviors regarding the way they use the credit union.

But Collins is right.  The business model that built the industry is seriously broken, and this reality applies to both credit unions and banks. (more…)

Posted in Strategic Thinking | 13 Comments »

Strategic Planning: Take Time to Plan to Plan

Tuesday, August 31st, 2010

It’s that time of the year again.  Credit unions Boards and Leadership teams across the country will soon be gathering for weekend retreats to discuss the strategic direction their credit unions should take in the future.

It’s a valuable and important process, and it can be greatly improved by investing some time and energy in planning to plan. Here are five important steps for every credit union to consider to make this year’s planning session more successful: (more…)

Posted in Growing Your Credit Union, Strategic Planning, Strategic Thinking | No Comments »

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