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Over the last several years I’ve noticed credit union leaders doing a better job focusing on the future through robust strategic planning sessions. Often, (but unfortunately, not always), these sessions result in a written strategic plan, an important artifact to help orient your entire team on where you’re going as an organization.

Still, I’ve noticed this is where some plans fall short. There is an additional step that will take the written strategic plan and convert it into an actionable roadmap for the future. Otherwise, there is a risk the strategic plan grows dusty on the digital credenza, a relic from an otherwise productive planning session.

Typically, the strategic plan is not written in a way to become a living, breathing document. It’s static, even if it includes measures of success, projected projects and owners, and other relevant data. The strategic plan must be translated into something more usable.

The final element of our strategic planning process is the building of a Strategy Map. The map is a one-page document that encapsulates the entire plan, from eleven-year point statement to five-year priorities to three-year objectives. The map is organized by strategic dimension, and includes relevant strategic-level key performance indicators, the most recent measurement for each KPI, and three years’ worth of targets for each. Finally, each objective has relative supporting projects and initiatives.

The Strategy Map animates the strategic plan. It’s intended to be universally read, by Directors and tellers and everyone in between. It articulates not only where we are going, but how we’ll know if we are successful, and the major steps we need to take in order to complete the journey.

Canidae stands at the ready to help your credit union develop your strategic plan, and all of our sessions include a written plan, as well as your Strategy Map.

Jim Kasch, Founder
Canidae, LLC