Good Governance: An antidote for shifting sands
Your strategic planning process is as important as the plan and should be ongoing.
Recently, Henry Meier, SVP/general Counsel at the New York Credit Union Association penned a blog addressing “Why D.C.’s Policy Pronouncements are the Key to Economic Growth.” In it, Meier discussed=s the shifting sands of today’s political environment, as well as the state of our economy and how “We are now more dependent on Washington than ever before.”
The business environment in which your credit union operates is, to say the least, complicated. Beyond the challenges that emerge from Washington, you are likely faced with growing competition, shifting demographics, technological disruption, as well as the potential for an economic slowdown or recession. What else would you add to your list? Challenges with board succession? A CEO transition? A core conversion?
How prepared is your credit union to meet these challenges? Do you have a solid strategic plan in place? What about your process? We think the process, in these turbulent times, is nearly as important as the plan.
continue reading »
