Strategic planning guide, Part I: Pre-planning exercise
It’s that time of year when organizations are closing out 2015 and looking toward 2016 with commitment and determination, paving the way for additional growth. More often than not, credit unions are performing annual organizational evaluations and developing annual strategic plans. In the past, bi-annual strategic plans were enough, but in today’s competitive and ever-changing marketplace, it’s more important than ever to have a solid strategic direction year over year, or at the very least, to monitor results and adjust your goals annually. Before you embark on the strategic planning process, consider completing the exercises below (Hint: this is a good exercise for your management team):
1. Determine the value of having a strategic plan. Strategy means different things to different organizations.
- Why does your company value having a strategic plan in place? (Is it to communicate your message? Establish priorities? Is it so your staff has a unified vision? To simplify decision-making?) Find your reason.