The 5 phases of strategic planning
One of the Board’s primary responsibilities is to set direction for the organization through strategic planning.A strategic plan or framework serves as a roadmap and a tool for assessing the credit union’s progress.Working side-by-side with the Leadership Team, the Board should play an active and essential role in developing, approving, and supporting your organization’s strategic plan.
The nature of strategic planning is changing in response to the turbulence caused by the recent recession and the challenges of planning in a constantly changing environment.However, regardless of type of planning process your organization follows, all strategic planning often unfolds in a series of five phases, with each phase building on the one that came before.When beginning a new phase of strategic planning, it is important to keep a few key questions in mind.
Phase 1: PLANNING TO PLAN
The planning to plan phase focuses on what the strategic planning process will look like and who will be involved. The CEO is responsible for preparing the staff and Board. Begin by addressing the following questions:continue reading »