Strategic planning is a journey
by: Shazia Manus
In an article I recently wrote for Credit Union Business, I examined the challenges and changes occurring in the realm of strategic planning. As today’s financial institution (FI) leaders adapt to an ever-changing, hyper-competitive environment, their strategic planning objectives and efforts must also evolve.
Defining the ideal consumer experience by understanding the channels, products and services most used by an FI’s customers is an important first step in the strategic planning process. Once this ideal consumer experience has been identified, strategic planning to best further your FI’s core objectives can begin.
In the article, “Three Traits of Successful Strategic Planners,” I highlight the characteristics I believe are key for an effective strategic planner to possess. The excerpt below takes a closer look at the first trait.
Trait #1: Take Walks Around the Magic Kingdom (with Eyes and Ears Wide Open)
FI leaders must carry out their planning in an intentional, disciplined and yet fluid way. Think of strategic planning as a journey, rather than an annual event. This may mean setting aside time each week to do what I like to call “taking a walk around the magic kingdom with eyes and ears wide open.”
