Best strategic planners are forward-thinking

by TMG

by: Shazia Manus

In an article I recently wrote for Credit Union Business, I highlighted the characteristics I believe are key for an effective strategic planner to possess.

In my last blog post I broke down Trait #1: Take Walks Around the Magic Kingdom (with Eyes and Ears Wide Open) . The excerpt below digs into the second trait.

Trait #2: Get Oriented to the Future
When financial institution (FI) management is focused on short-term issues or goals, the most eminent, short-term and financially significant, tactical concerns are what get the attention. That bottom-line thinking creates an environment in which tactics overtake objectives. An orientation to the present doesn’t move the strategy needle nearly enough.

Encouraging a future orientation generates several things for planners, not the least of which is the ability to see past the current competition, chaos and noise. A good strategic plan provides both offensive and defensive direction. When executives are too focused in the here-and-now, they have a tendency to stay in a defensive frame of mind. Without a good offensive strategy, FIs are liable to lose points with even their most loyal customers.

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