Developing strategic thinkers in your credit union
by. Jeff Randel
Strategic thinking is not a detached process that happens once or twice each year at the all-managers meeting or your strategic planning session. Strategic thinking is a daily exercise where managers lean toward more than only what is required for the day; in its place, managers make choices today knowing full well the decision’s weight and effect on your credit union and its stakeholders in six months, one year, and three years.
So, how can credit unions develop strategic thinkers and leaders? How can you foster strategic thinking? Build some or all of the following practices into your leadership actions and systems at your credit union:
- Take your strategic vision and direction to the troops. Once your board of directors and executive team establishes a set of strategic objectives, share these goals throughout your credit union. If one of your objectives states your credit union will deliver measurable, world-class service, your colleagues need to comprehend this wide-ranging approach in order to remain focused and integrate it into their connections with your members and fellow professionals.
- Expect and allow managers to set aside regular time for strategic thinking and innovation. Provide external and strategic intelligence to your leaders who influence the business of your credit union and members. Ask your managers to think beyond the day to day, discuss internal matters, and generate innovative solutions that produce long-term benefits for your credit union. Dedicate time for your managers–as a group–to deliberate what’s next and relevant for your credit union, allowing them to develop products, services, and processes that contribute to your credit union’s strategic success.