Strategic planning may be the last thing on your mind at the moment, but we know that you undoubtedly value the opportunity to plan. We’re sure that you’ve been hard at work in recent weeks focused on short-term responses to coronavirus challenges, but how about real strategic planning for the mid- to long-term?
If you are ready to consider more broad planning horizons, we have an easy-to-deploy planning process that allows your credit union to engage in forward-looking planning activities while still respecting social distancing and shelter-in-place mandates. Our process for “virtual” planning is outlined below.
Generally the process can be executed in as little as two weeks, but can certainly be extended to accommodate your team’s schedule priorities and workload. If you are in need of planning support now, feel free to complete our online contact request form. You are also welcome to call me, or my colleague Matt Griffiths, to discuss the details. We’re at (888) 217-5988, extension 801 and 802 respectively.
Also, know that we have delivered the same process in person for several years to positive effect for our clients. If you like our process but would prefer to wait until the “all-clear” is given for groups to meet in person, let us know. We can pencil you in for a future in-person planning session engagement.
To engage participants (board and/or management) in strategic discussion and decision making focused on mid- to long-term strategy, risk mitigation, and business model clarity in a virtual meeting environment suitable for current social distancing/shelter in place mandates.
Statement of Work
Glatt Consulting Group, Inc. (GC) proposes the following process to fulfill the project objectives outlined above.
Prior to the planning session, GC will lead participants through a two-phase questionnaire process as follows:
Phase 1: PEST Questionnaire
Planning session participants will be provided a link to an online form that allows participants to brainstorm the critical political, economic, social, and technological (PEST) issues the credit union is facing, or will face in the future.
Phase 2: SWOT and Business Model Questionnaire
Planning session participants will be provided a link to an online form that allows participants to (1) define the credit union’s strengths, weaknesses, opportunities, and threats (SWOT) in the context of the participant-defined PEST issues from Phase 1, and (2) define the credit union’s current business model*, specifically the following areas:
- Key activities
- Key partners
- Key resources
- Value proposition(s)
- Member segments
- Member relationships
- Cost structures
- Revenue streams
Planning session participants will be provided with a PEST/SWOT questionnaire results matrix and a Business Model Canvas illustration. Sample matrix and canvas illustrations are included below.
Results Matrix Structure
The PEST/SWOT questionnaire results matrix is illustrated below. This matrix allows for an overarching view of strengths, weaknesses, opportunities, and threats. It is helpful in driving discussion of the interrelationships between the four areas, in particular the ability of the internal environment to “successfully” interact with the external environment (e.g., discussing what weaknesses could allow a threat to become an existential risk, and what the appropriate organizational strategic response should be – such as leveraging an existing strength, or developing new strengths).
The pre-session documentation will include a matrix consisting of the credit union’s PEST/SWOT results.
The Business Model Canvas is illustrated below. The canvas allows for a concise overview of the key components and elements that define or comprise the credit union’s business model. Business models are unique to any given credit union and, depending on the strength of the model relative to PEST/SWOT issues, can either drive success or failure.
The pre-session documentation will include a Business Model Canvas consisting of the credit union’s business model questionnaire results.
Planning participants will be gathered in a virtual setting using either Google Meet, a secure component of GC’s paid GSuite account services, or Zoom depending on client preference. The session will be scheduled for approximately 5.5 hours, including three breaks (one of which is slated for lunch). The session will focus on discussion and decision making regarding strategic focus, and the business model. The general discussion agenda will be guided by the following questions:
Strategic Focus (Two Hours):
- What opportunities will be pursued?
- What risks will be mitigated?
- How do the credit union’s strengths and weaknesses line up given priority opportunities and critical risks/threats? What strengths are to be leveraged? What needs to change/be developed?
Business Model (Two Hours):
- Is the credit union’s business model suited to the credit union’s (new/updated) strategic focus?
- If not, what must change or be “tightened up?”
Session Decision Documentation
Following the planning session, GC will provide the credit union with a document containing the following:
- Strategies to pursue
- Risks to mitigate
- Strengths to leverage
- Weaknesses to correct
- Business model to leverage
With regard to item 5, the business model, GC will include an updated Business Model Canvas illustrating the credit union’s desired model state, which includes/reflects the results of the business model discussion and decision-making agenda item.
The process outlined in this Statement of Work can be completed in as few as two weeks (but can be extended to accommodate your own schedule and participant availability). The activity timeline is as follows:
|PEST Questionnaire||Five Days|
|PEST/SWOT and Business Model Questionnaire||Five Days|
|Pre-Session Documentation||One Day|
|Planning Session||One Day|
|Planning Session Documentation||Two Days|
|Total Minimum Duration||14 Days|
Our SOW assumes that all participants have access to the internet for participation in questionnaires, and are able to participate in the planning session via an appropriate/suitable internet-connected device or via dial-in/telephone access.
Request an Executable Agreement
If you are in need of planning support now, feel free to complete our online contact request form. We’ll generate an executable Statement of Work/Agreement including project pricing. You are also welcome to call me, or my colleague Matt Griffiths, to discuss the details. We’re at (888) 217-5988, extension 801 and 802 respectively.
*The business model elements making up the canvas were initially proposed/developed by Alexander Osterwalder.
Image by Free-Photos from Pixabay