Guest Opinion: Learning Can Strengthen Board Culture
This past year I traveled 300,000 miles globally. The experience helped me connect dots that have serious consequences for business strategy and succession planning. It also reinforced a central theme that is emerging for all of us on boards: Can we learn as fast as the world is changing?
As directors, we are always in a position to influence the strategy of the corporate entity we serve. Change comes in multiple forms. The social unrest witnessed in the U.K. this past summer and the Occupy Wall Street movement reflects the environment in which capitalism operates. Technology-driven changes, I believe, will create increasing importance on the director’s new role as stewards of capitalism.
In an era where we are overwhelmed by PowerPoint slides, this is a reminder of the need for prioritization, dashboards that link to strategy, the ability to communicate effectively and learning. Further, boards have the imperative to unite their credit unions by setting values and succession planning leadership.
Years ago, I discussed with clients the issue of competition coming from two people in a garage. That moment of truth has arrived. Barriers to entry are evaporating as cloud technology becomes more ubiquitous. That reality has implications for the balancing of market demands for local consumption with global standards.
They will then hear case studies on change management that will help to strengthen the foundation of communication and team alignment. This will be followed by a session on innovation and creativity. The last learning session will solely focus on the regulatory environment, public policy and its implications for credit unions throughout the country.
In the collaborative credit union spirit, under the leadership of Kirk Kordeleski, a decision has been made to invite neighboring credit union leaders to participate, with the belief that the credit union mission is always about cooperation based upon shared beliefs of member well-being and security. The Bethpage Federal Credit Union board participated fully in the creation of this educational effort and through their understanding of the importance of learning, leadership will be strengthened to drive new strategies and members will be better served.