Do you scratch your head wondering how a brand like BlackBerry can go from an industry leader to the bottom of the heap in only a few years? How about Radio Shack, JC Penney or Red Lobster, who are all on life support?
All of these businesses waited too long before changing their business models and their brands fell out of favor with the customers who are their future business.
Let's look at your credit union. What is the average age of your membership? High 40s, low 50s? What is the average age of your board of directors? Probably a bit older than that. Are you still focused on building brick and mortar branches? Are you fighting full investment in technology? Does your board struggle to understand "crazy" new ideas to try to reach younger members? Is strategic planning still a one-time-a-year event?
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