By Lisa Hochgraf
It seems like an age since February when I attended the inaugural CUES Director Strategy Seminar. But it was really only February.
And the notes I just came across from that event are timeless. I wrote them while reading "What is Strategy?" an article in the Harvard Business Review that speaker John Oliver distributed to attendees. Oliver is president of Laurel Management Systems, Palm Springs, Calif., and the force behind CU Planner: A Strategic Planning Process.
For your reading pleasure, here are two thoughts from the article about just what strategy is, and then a quote from the piece that talks about the relationship between leadership and strategy. At the end, please comment about what strategy is to you and how you lead strategy development at your credit union.
- Strategy is making trade-offs in competing. The essence of strategy is choosing what not to do.
- Strategy is creating fit among a company's activities. The success of a strategy depends on doing many things well--not just a few--and integrating among them.
"The challenge of developing or re-establishing a clear strategy is often primarily an organizational one and depends on leadership. Strong leaders willing to make choices are essential."
Lisa Hochgraf is a CUES editor.
John Oliver led a pre-seminar workshop on finance for credit union directors before CUES Director Strategy Seminar. Another workshop on finance for directors will be held before CUES Annual Convention in June. Register to attend CUES Annual Convention and receive free registration to the pre-conference workshop!
