Posts Tagged ‘change’
Applying the McKinsey 7S Model to Enhance Credit Union Success
The McKinsey 7S was introduced in Tom Peters and Robert Waterman’s book, In Search of Excellence, in the late 70s. The 7S framework changed how leaders viewed organizational effectiveness. Before 7S, executives focused on organization structure, who does what, who reports to whom, and the relative authorities of each tier on the org chart. As organizations…
Read MoreAdapting “Management by Walking Around” for the Hybrid Credit Union
“Management by walking around” (MBWA) has been a management staple for decades. The phrase was popularized in the 1980s. Consultants Tom Peters and Robert Waterman explored the idea in their 1982 book, In Search of Excellence: Lessons from America’s Best-Run Companies. It involves leaders physically visiting their staff to observe their engagement and effort to understand…
Read MoreMedia-Driven Hysteria: The Relationship Between Home Buying Demand and Interest Rates
Buying a home is NOT just a transaction but a strategic goal for consumers. That strategic goal is to provide a home to raise a family, build on the promise of generational wealth, access better education for the member’s children, or provide recreational opportunities for the family. With the fundamental objective in mind, I’ll explore…
Read MoreDisrupting Strategic Planning
Strategic Planning 2.0 As we transition out of the strategic planning season, and after twenty years of being part of strategic planning on both sides of the table, I’ve observed the following process. The credit union identifies a strategic planning event on the calendar and often hires a strategic planning consultant to facilitate the meeting.…
Read MoreSituations a Credit Union Should Use a Fractional Executive
Credit unions often face unique challenges that require expert guidance. In many cases, hiring a full-time executive may not be feasible or necessary. This is where fractional executives come into play. A fractional executive is an experienced professional who provides their expertise part-time or temporarily. The following are situations in which a credit union should…
Read MoreLeadership Requires INTENTIONAL Active Listening
Good News: Active Listening is a Learned Skill In a fast-paced and increasingly remote and digital world, communication has taken various forms, from texting and email to video calls and social media. With the rapid evolution of our work environment, communication needs to be seen in the prism of the art of active listening. We…
Read MoreTwelve Steps to Bonding with Your Members
Unlike traditional banks, credit unions have a mission to serve their members, not shareholders. This fundamental difference makes building solid and lasting relationships with their members possible. To make members love their credit union, focusing on delivering exceptional service, fostering trust, and offering financial products that meet their needs is essential. Below, I will explore…
Read MoreShould YOU Consider a Fractional Executive?
To thrive in today’s ever-evolving financial landscape, credit unions must adapt, innovate, and strategically manage their operations. One innovative solution that credit unions are increasingly turning to is the fractional executive. Fractional executives are experienced professionals who work, typically as contract employees, part-time or on a project basis, to provide specialized expertise and leadership. In…
Read MoreDiscovering Your Niche
How Credit Unions Can Identify and Serve Unique Markets Credit unions are known for their community-based approach and member-centric services. While larger banks are designed to cater to a broad spectrum of customers, “being all things to all people,” credit unions can have a distinct advantage by serving specific niche markets that require customized products…
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