Dictionary.com defines critical thinking as disciplined thinking that is clear, rational, open-minded, and informed by evidence. It is foundational for good decision-making. What organization couldn’t use plenty of critical thinkers? But there are some common stumbling blocks and some key practices to avoid them. 10 Things that Stifle Critical Thinking: Unclear objectives – lack of … Continued
Vendor and partner relationships are essential to financial institutions, therefore we are reposting this blog in light of recent conversations with our clients. Taking a strategic approach to these important relationships can better position the organization for future moves, boost performance, save resources, and maybe even lessen the total number of relationships required. Optimizing these … Continued
We have spent thousands of hours working with Boards and Leadership teams on strategic planning and we regularly get asked, “How can a Board, made up of individuals who often are only able to focus on the financial institution during monthly meetings or annual planning sessions, be more strategic in their thinking?” Most of the … Continued
In the continually evolving landscape of finance, growth is not just a goal, but a necessity for survival and prosperity. Financial institutions operate in highly competitive environments where growth not only helps to ensure but also signifies relevance and progress. Not all growth strategies are created equal, and some may prove harmful if not guided … Continued
Today’s high-performing finance teams are seeing a need to shift their mindsets and their internal reputations in order to enhance the integral role they play in the strategic progress of their organization. They are being intentional in their efforts and actions to change the way they are viewed in the organization. Specifically, their focus is … Continued
It seems like there are innumerable tough conversations to be had in the workplace for situations like mediocre performance reviews, cancelled projects, peer feedback… These 5 tips will help you prepare ahead of time, so you’re positioned for better outcomes more often. Before getting into the tips, there’s a type of tough conversation that deserves … Continued
In a previous blog, we discussed shifting from the traditional approach to strategic planning toward a more continuous approach in order to help your team be better prepared for the unpredictability of tomorrow. If you haven’t read that blog, we recommend starting there. This blog outlines some of the important topics that have come out … Continued
Robust earnings eliminate a potential impediment on the road toward progress with strategic objectives. The current environment, however, is placing pressure on earnings in a variety of ways. Net interest margin compression, increasing operating expense ratios, higher projected reserves for loan losses, and potential decreases in non-interest income sources all seem to be impacting financial … Continued
In light of the many conversations we are having with our clients about artificial intelligence, we thought it would be helpful to repost this blog as a reminder to explore the power of process improvement, before artificial intelligence. When it comes to newer technologies in the financial services industry, the usage of artificial intelligence (AI) … Continued
While none of us can predict the future, those who anticipate various future scenarios and work through their options tend to fare materially better than those who don’t. Utilizing scenario planning to rehearse for potential future events can boost confidence in decision-making for an unknown tomorrow, while building the strength to handle it along the … Continued
