C. Myblog

Preparing For Strategic Planning

July 19, 2012

As you prepare for strategic planning with your credit union, consider carving out time to go through a structured strategic thinking process.  There are many scenarios to test drive.  Test driving helps you rehearse tomorrow today.  The objective of a structured strategic thinking process is to expand thinking and imagination – not necessarily to make decisions during this process.  Following is just one example scenario many credit unions are test driving.  We have listed a few questions to consider.

Test Drive: It’s 2017 and it is clear that most consumers prefer minimal verbal communication when addressing their banking needs.

Questions:

  • What would be the credit union’s measures of success in this future?
  • What would be the credit union’s value proposition in this future?
  • How has limited verbal interaction impacted the credit union’s ability to create member loyalty?
  • How is the credit union effectively cross selling in this future?
  • How is the credit union acquiring new members from its target market in this future?
  • What is the role of physical locations in this future?
  • How has it changed recruiting, training and retention of employees, management and board?
  • How is the competition taking advantage of this strategy?
  • What verbal communication was considered “sacred cow” and left untouched?
Keep in mind the more you delve into the questions, the more questions you may have.  That’s expected!

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