How to adjust your strategic plan with the Four S’s

Your strategic plan created last fall is more than likely in a trashcan somewhere. Thank you, COVID-19.

Strategic plans are one of the many casualties left in the pandemic’s wake. While situations have certainly changed, the need for a strategic plan has not.

The Harvard Business Review recently noted, “Ad hoc responses won’t work; organizations must lay the groundwork for their recoveries now.”

But how do credit unions and community banks practically do that? One of the best techniques you can do is pull out your plan, review every major strategic initiative and categorize your efforts into one of four buckets:

 

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