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Key Success Factors: How to Thrive in the Future (2002)
Strategic planning for credit unions is as complex as it is crucial. As we have seen in the past two decades, the financial services industry is undergoing continual change. It is challenging for many organizations just to keep pace, let alone thrive. Credit unions must increasingly focus on the future if they are to stay competitive, rather than play a "catch-up" game.
This executive report is a companion to two FutureScopes™ planning guides previously published by the Credit Union Executives Society (CUES) and Decision Strategies International, Inc. (DSI): 2005: Scenarios for Credit Unions and The Chameleon Scenario Revisited. The approach to strategic planning presented in these reports involves sketching out several portraits of the future. These scenarios in turn frame the competitive outlook in the financial services industry and explore the potential impact of a variety of societal and industry-related issues. Lastly, prescriptive strategies must be developed to help credit unions develop the resources and capabilities - the key success factors - they need to succeed in the various future scenarios.
This report focuses on these key success factors (KSF) and provides a framework for demonstrating how they can help your credit union prepare for an uncertain future. It describes how to assess your credit union's current performance and discusses how to more fully capitalize on selected resources and capabilities.
Our report helps you focus on certain KSFs. It also shares the results of a survey of credit union executives on what they considered the most pertinent key success factors over the past five years as well as for the next half-decade. We continue with an in-depth case study of a credit union that turned around a dwindling membership to thrive in a new economic and competitive environment by employing the process described in this report. Sidebar articles, charts and tables, and the multiple appendices concluding this report provide examples, details and analysis for putting the KSF process to work at your own credit union.
If you interested in getting additional information or would like to order copies of this report, please contact:
Credit Union Executives Society
5510 Research Park Drive
P.O. Box 14167
Madison, WI 53711
800-252-2664
www.cues.org
Strategic planning for credit unions is as complex as it is crucial. As we have seen in the past two decades, the financial services industry is undergoing continual change. It is challenging for many organizations just to keep pace, let alone thrive. Credit unions must increasingly focus on the future if they are to stay competitive, rather than play a "catch-up" game.This executive report is a companion to two FutureScopes™ planning guides previously published by the Credit Union Executives Society (CUES) and Decision Strategies International, Inc. (DSI): 2005: Scenarios for Credit Unions and The Chameleon Scenario Revisited. The approach to strategic planning presented in these reports involves sketching out several portraits of the future. These scenarios in turn frame the competitive outlook in the financial services industry and explore the potential impact of a variety of societal and industry-related issues. Lastly, prescriptive strategies must be developed to help credit unions develop the resources and capabilities - the key success factors - they need to succeed in the various future scenarios.
This report focuses on these key success factors (KSF) and provides a framework for demonstrating how they can help your credit union prepare for an uncertain future. It describes how to assess your credit union's current performance and discusses how to more fully capitalize on selected resources and capabilities.
Our report helps you focus on certain KSFs. It also shares the results of a survey of credit union executives on what they considered the most pertinent key success factors over the past five years as well as for the next half-decade. We continue with an in-depth case study of a credit union that turned around a dwindling membership to thrive in a new economic and competitive environment by employing the process described in this report. Sidebar articles, charts and tables, and the multiple appendices concluding this report provide examples, details and analysis for putting the KSF process to work at your own credit union.
If you interested in getting additional information or would like to order copies of this report, please contact:
Credit Union Executives Society
5510 Research Park Drive
P.O. Box 14167
Madison, WI 53711
800-252-2664
www.cues.org