By Lisa Hochgraf
I read business articles all the time. So in those few minutes before I fall asleep at night, I often try tackling something different. Interestingly, my latest selection, the classic sci-fi story War of the Worlds by H.G. Wells, had a great business message. (I'm going to tell you how it ends, so if you hate spoilers, read this post after you read the book.)
In the story, intelligent Martians invade Earth, landing outside London. Their "heat ray" weapon seems unstoppable by any of the Brits' guns. But then, out of the blue, the Martians drop dead, overcome by the micro organisms that make Earthlings sick, but which our immune systems fight off.
In other words, the Earthlings got lucky. But what if the Martians hadn't been toppled by the native germs? The book would have ended very differently.
The business moral of the story? Don't leave winning against your competition to chance.
CUES' new report, Scenarios for Credit Unions 2020: Striving to Stay Relevant in a Rapidly Changing World, describes four future scenarios in which CUs may be operating five and half years from now. The report suggests what CUs that "win" in each scenario will need to do. None of the winning strategies listed are "wait and see if something unexpected takes out the competition."
So what are your plans for winning in the future financial services marketplace, including how you will stay flexible enough to withstand whatever comes to pass?
CUES, CUES Director and Center for Credit Union Board Excellence members can all leverage the workbook section of the Scenarios report to craft their own unique future response plan. Email cues@cues.org to join or to request a copy as a benefit of your existing membership.
Lisa Hochgraf is a CUES senior editor.
