C. Myblog

Execution: A Strategic Plan’s Worst Enemy

September 12, 2013


Many credit unions are heading into their annual strategic planning process.  Successful strategic planning requires credit unions to answer tough questions.  For example: Is our business model relevant or does it need to be fine-tuned or completely overhauled?  Are members changing the way they use our delivery channels and, if so, what do we need to do to remain relevant to them?  What “no” and “stop doing” decisions can we make so that we have the resources to achieve our strategic objectives?


Many credit unions create amazing strategies to remain relevant by addressing these and other tough questions.  Unfortunately, they can’t answer “yes” to this last tough question: Do we have a history of solid execution of our initiatives and projects that support our strategies? Solid execution means that the initiatives and projects were completed within scope, on time and within budget.  If you quickly answer “no” to this question, then much of the time, energy and effort that goes into your strategic planning process may be wasted and your business model may take several steps closer toward irrelevancy.  That is a big, strategic problem.


How do you start to resolve that problem?  Many businesses and credit unions, large and small, use a proven five-phase process to successfully implement strategies and projects.  Below are links to two relevant and succinct articles describing this process that can be found at the c. notes page of our website: Project Management: Essential Project Planning and Project Management: Execution, Control and Closure.

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