Successful Strategic Management …

Strategic management focuses on the entire organization and the competitive environment. Leadership demonstrates proactive consideration of internal and external conditions. Objectives are defined before consideration of alternative strategies. Management rigorously assesses strategies for strengths and weaknesses and organizational alignment before implementation. Finally, the vision is continuously communicated to stakeholders.

 The Elements of Successful Strategic Planning

• A plan should be dynamic
• Realizing that there is not necessarily a "Right Way" to plan
• Recognizing that plans are tools, not ends in themselves, and the process is as important as the plan
• Planning must have the participation and support of top management
• The plan must fit into the corporate culture
• Key line people from all functional areas must be utilized in the planning process
• Utilizing an outside facilitator for the planning session
• Integrate performance goals into the performance evaluations/reward system to ensure follow-up
• Make the results of the planning known to everyone that is involved with implementing the plan
• Don’t just plan strategically … Think Strategically!

 How to Make Planning Flop

• Do not communicate the plan to the staff, keep the plan a secret
• Minimize participation in the planning process
• Establish goals that are totally unrealistic
• Do not evaluate the objectives to make sure they are in alignment
• Do not consider the financial implications of the plan
• Use no outside assistance in initial plan preparation
• Do not implement reward systems that are tied to the strategic plan
• Make the plan inflexible
• Do not monitor the plan
• Do not use the plan as a guide for implementing strategic decisions
• Board micro-management

 Making Strategic Planning More Enjoyable

• Evaluate how ready the Board and executive committee is to applied strategic planning
• Determine your financial institution’s level of available expertise
• Awards…
• Establish a positive planning environment by:

	Holding the session off-site at a desireable location
	Combining with an enjoyable activity such as golf, sightseeing, good meals, entertainment, etc.
	Involving family members

• Develop a planning session outline to establish the process that will be followed and the expected results

More Info

"When Glenn Christensen facilitated our strategic planning retreat, he did a good job of adapting to our process.  During the session, he used his expertise to help us focus on the important areas...he did a good job of including everyone in the discussion"

Bill Hayes, President/CEO
Verity Credit Union

• "Our capital ratio is growing and we have a unified strategy for managing growth"

• "When current results are questioned relative to previous years results, I can now reference the directions from the planning session"

• "My relationship with the Board has improved"

• "We were able to work though decisions in the planning session that we were unable to reach a decision on previously"

• "Both the Board and I have a much better sense that what we are doing is a professional thing, it is now less ‘what’s in it for me’"

• "Loan demand has finally picked up"

• "The auditor and examiner are very pleased, the plan leaves the impression that we know what we are doing"