Strategy Falls Short Without Design and Talent | Credit Union Times
By Steve Williams | July 24, 2016 at 08:00 PM | The original version of this story was published on Credit Union Times Magazine
Every summer, credit unions gear up for annual strategic planning processes that result in new financial targets and budgets by the fall. These planning exercises result in the creation of lofty goals that often go unrealized years later. With an extended low rate environment, weakening economic fundamentals and continued regulatory burden, credit unions will need more than bright-eyed optimism to succeed in 2017.
As the financial services industry becomes more dependent on niched knowledge, digital delivery and leveraging customer information, credit unions must recognize that the disciplines of design and organizational development are equally important to the strategy process. The strategy process must identify the “what” and “how” in regard to the organization’s future.