Posts Tagged ‘reinvention’
Make your Strategic Plan a Hero’s Story
When doing a strategic plan, most organizations really are good at thinking with aspiration, hope, and promise. Where the “failure” happens is on the execution of the plan. If you think about engaging movies, they all seem to be stories that include a variation of the hero’s journey. “Lord of the Rings”, “Star Wars”, and…
Read MoreStrategic Planning is Like Running a Half-Marathon
Strategic planning for a lot of companies is an annual exercise in thinking big, dreaming of possibilities. Unfortunately, for a lot of these organizations, strategic planning stops there and this annual ritual that when the ritual is done, everyone returns back to business as usual. Let’s stop for a minute to really understand what strategic…
Read MoreBranching Strategy, It Starts with the Member
Historically branches are seen as transaction channels. Today, this view of branches has evolved and continues to evolve. Members and potential members like the convenience of brick and mortar, they like the demonstration of fiscal strength and security but the truth is, they rely less on branches for their daily, weekly and monthly transaction business…
Read MoreAir Travel, Leading and Stress
Stress is part of our lives. Outside forces can cause us stress, and we can cause stress for others and ourselves. Air travel is a source of stress; that’s what makes it a good metaphor for stress management behaviors. Many people find air travel very stressful. The stress surrounding air travel is not unlike the…
Read MoreFive Strategic Questions for the Board and Senior Management
It’s a strange time for credit unions. Credit unions are facing unprecedented pressures from regulators and examiners, and capital pressures for net interest margins and fee income. Often they don’t have the benefit of “economies of scale” or the resources, people, and capital, to invest in the infrastructure demands of vendor due diligence, regulatory compliance…
Read MoreCreating a Digital Culture in Five Steps
Mobile utilization is now the preferred method for consumers to manage their money and make deposits, transfers, and payments. Too often, credit union staff is not keeping pace with member adoption of the digital channels. What can a credit union do to prepare their team to support their member’s digital needs? Nurture a digital culture…
Read MoreStrategic Planning is the Easy Part
Working with organizations across the country, I see a familiar miss-step in their strategic planning process. The process I’ve observed is as follows: Once a year a strategic planning event is scheduled with the Board and a few key executives The event starts with a “state of the industry today” presentation, typically by a consultant.…
Read MoreCareer Setback or “The Sky Is Falling”
If it hasn’t happened yet, it will. Suddenly, seemingly out of the blue, you get; pick one: Demoted, laid off, fired, passed over, or criticized for your execution of a project. What happens next will determine your future for a long, long time. When a career setback happens, it will most likely be very emotional.…
Read MorePay for Performance and Reputation Risk
An increasing trend in the financial services sector is “pay for performance.” This practice shows up in several formats: Commission – rep is paid a percentage of balances acquired Incentive – rep is paid per closed referral Bonus – rep is paid based on goal performance over a set period (per month, quarter, bi-annually, annually)…
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