Business Planning
Credit unions of all sizes conduct annual strategic planning sessions. The primary purpose of the traditional planning process is to set long range goals that the board of directors, CEO and credit union management agree are worthwhile and appropriate to direct future activities. After the long range goals are defined with the board's input, management typically develops specific objectives, or tactical plans, for the upcoming calendar year.
All of this planning activity is good, and it will be beneficial if it guides a focused approach to completing relevant tasks and activities going forward in time. There is no doubt a credit union will benefit if, after a year or two, member service has been improved measurably. What if, however, other business priorities and operational problems prevent a focused approach to carrying out tactical plans during the year that follows the board planning session? What are the odds that other requirements will come up during the year? What if the tactical plans contain too many objectives to complete in a year or two? These realities lead to a different, more practical approach for business planning and execution. Contact us to find out how a more practical and organized approach to planning will help your credit union stay on track.
