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By Harland Educational Services
"If you don't know where you are going, how will you know when you
- Alice in Wonderland
Strategic planning is a critical component to the long-term success of your
organization. Building a road map that establishes the destination with guidelines
and objectives requires a synergy between the executive team and the board based
upon a predetermined long-term vision. You can describe the strategic planning
process as the board setting the destination - getting to New York City from
Los Angeles within this timeframe, within established values and with this amount
of budget. It doesn't matter the route or the car you select; that's within
staff control. However, strategic initiatives that anticipate both opportunities
and challenges while on the road will be measured and the management team will
be held accountable for results.
This synergy between the board and the executive team in setting strategic initiatives
requires a collaborative planning process that begins with education, clarifies
understanding through interactive dialogue and focuses on the ultimate mission
and vision for the credit union.
Silver State Schools, Las Vegas, Nevada ($788M), has both an educational session
and strategic planning session that provides the board an opportunity to learn
more about credit union initiatives before the strategic planning session. It
gives both staff and volunteers the time to learn more and ask questions to
ascertain background on what issues may be urgent and what are pending on the
Dave Rhamy, Silver States CEO, commented, "Education is a critical component
of our planning session. Understanding the state of the credit union, the state
of the financial industry, and what consumers want from their financial providers,
prepares us for a highly focused, well-informed discussion that results in an
Every credit union's strategic planning process must be uniquely designed to
fit the specific needs of the organization. This being said, there are common
components that a successful strategic planning session should incorporate.
The macro analysis:
The micro analysis for the individual organizational strategy:
LA Financial, Pasadena, CA ($300M), is a great example of using benchmarking
in the planning process. They have developed a strategic planning process that
identifies industry best practices for key initiatives that they are looking
to implement. Guest speakers are included from these credit unions to share
their research, implementation and results. "This approach provides the
Board and management team an opportunity to learn first hand what works and
garner ideas that may apply to LA Financial," stated Barbara Nall, CEO.
Top-of-Mind Discussion Issues
Below are some hot topics for consideration during your 2006 planning sessions:
Environmental Scan & Gap Analysis:
Benchmarking & Strategic Issues:
Dynamic, flexible roadmaps must be developed so that staff can respond quickly
to opportunities that cannot be anticipated in this dynamic environment. Cohesive,
highly educated volunteer and staff teamwork is necessary to create a strategic
plan that can serve as a living document that can easily be modified based upon
the conditions of the road ahead.
MyDAS, Inc. is a full service consultation firm providing solutions for staff
and member education, MySTERY Shopping and other research and survey solutions,
and agency marketing services. Serving the industry for over 20 years, find
out why the best and the brightest select MyDAS for results. For more information,
visit www.mydas.com, or call us at 800-291-6117.
This sponsored content article is provided to the credit union community for shared insights and knowledge from a recognized solutions provider in the industry. Please note that the views and opinions offered here do not reflect those of Callahan & Associates, and Callahan does not endorse vendors or the solutions they offer.
If you are interested in contributing an article on CreditUnions.com, please contact our Callahan Media team at firstname.lastname@example.org or 1-800-446-7453.
October 17, 2005
7/26/2012 04:06 PM
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