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There are numerous factors in improving a credit union's performance today: adding to the membership-base, increasing products/services per household, improving productivity by adding new technology, etc. As we all know, there is no lacking for ideas in this performance-related area. The challenge for a credit union executive is to minimize the many barriers faced on a daily basis to get the best ideas implemented and embraced within the organization.
We recently hosted a leadership symposium representing executives from a number of successful credit unions. We asked these executives to use a diagnostic tool that assesses the strengths and barriers of their organization to implement their strategy. Bridges Consulting Group developed the tool to identify critical success factors for implementing the organization's strategy. The tool reflects 52 reasons why implementations fail. The purpose of their participation was to see what executives agreed were the top factors, or barriers, to implementing strategy within their respective credit unions.
Listed below are the top four barriers they selected, providing tips to eliminate them so your credit union's strategy will be easier to implement.
An amazing insight when reflecting these barriers to strategy execution is that overcoming these issues doesn't really “cost” anything. It is a matter of changing the behaviors and culture of the organization – executives being more inspirational, being clearer on your communications, standardize your work processes so you can move to process improvement, and remove waste from your reporting and meetings. Even though these changes are “free,” the results are “priceless.”
For more information on eliminating barriers to implement your credit union's strategy, please contact Jim Cardwell or Karla Norwood at Cardwell, 800-395-1410. Or visit our Connections Online website: www.connectionsonline.net.
May 5, 2008
7/26/2012 03:58 PM
Great reminders Jim and Karla! Something we need to hear and be reminded of. I couldn''t agree more with the 4 points!
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