By Michelle Duhe, CPA, CFE
In some ways strategic planning is a lot like writing: everyone thinks they can do it. But, really, only a few are true masters of the process.
When researching strategic planning, most models consist of five simple steps:
- Establishing a mission and objective
- Environmental scan
- Strategy formulation
- Strategy implementation
- Evaluation and control
Following a strategic plan in this template format sounds easy, but really isn’t! After establishing the mission or objective the hard part begins—what to include in the environmental scan and how to get that information. Once you have the information, how do you use it to formulate an achievement plan? Then, overcoming the “fear-of-change” mentality during the implementation phase can result in the loss of change-resistant employees. Finally, the evaluation of the plan’s performance can seem lack-luster, usually because the results aren’t always quantifiable or we’ve moved on to the next plan.
By attending CUES’ CEO Institute for the first time this April—CEO Institute I: Strategic Planning at The Wharton School, University of Pennsylvania—I’m excited to learn more about strategy, and how the masters really make it work for their organizations. As part of this, I hope to learn how to focus on the big picture of credit union operations, and how to be more successful in setting, tracking and accomplishing the goals that help me, my credit union and the movement succeed.
Now, I spend much of my day drawn into little mini-crises. While my management team has been empowered to handle just about every situation, I inadvertently get sucked in—sometimes for my 20-plus years of industry experience and sometimes just to referee. I hope CEO Institute I improves my skills in holding management responsible for the resolution of these day-to-day issues.
When I was an NCUA regulator, we had a term “management by crisis.” Credit unions that were managed this way had no game plan. The issue/problem that fell on the CEO’s desk that morning was what was addressed. I feel my organization and team are above “management by crisis,” but there is always room for improvement—at all levels. I want the subject matter covered during this institute to help me to accomplish the goals established by my board and to make my credit union (and me) superstars!
I’m also looking forward to going to Philadelphia, a city I’ve always wanted to visit! And, I’m looking forward to studying with my peers, talking to those who face similar challenges and developing lasting friendships with my classmates.
Is anyone else excited to attend and what do you want to learn? I will post again in June to tell you all what I learned.
CUES member Michelle Duhe, CPA, CFE, is CEO of $107 million Shell New Orleans Federal Credit Union, New Orleans.
Learn more about CUES’ CEO Institute.
