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83 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Engagement |
What you do when no one is watching will determine the success of your organization, or, lack thereof |
Motivational tips to instill |
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Encourage employees to fall in love with the process |
You don’t start in 5th gear. 1st, 2nd, 3rd and all the stalls that come with it. |
Motivational tips to instill |
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You don’t climb a mountain by accident |
If you reach the peak too soon without doing the required work, you will not be able to maintain the success |
Motivational tips to instill |
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What are allies? |
People who encourage you, inspire you, support you, empower you, hold you accountable, provide good friction, and test you to be the absolute best version of yourself. |
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What are thieves? |
People who don’t encourage you, inspire you, support you, empower you, hold you accountable, and test you to be the absolute best version of yourself. |
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Good friction |
Welcome and invite good friction |
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What does consulting do? |
Tells people what to do |
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What does coaching do? |
Guides people to make great decisions and come to conclusions on their own. A more powerful approach than consulting. |
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What question should you ask yourself about how you approach your team? |
Are you refueling & empowering your team or “reviewing” and disempowering them? |
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What have studies at Harvard, London school of economics, and others identified as the root of happiness? |
Having rich social bonds and meaningful relationships |
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According to the Gallup 53% of workers are _______? |
“Not engaged” in the workplace |
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Successful organizations build what type of culture? |
On-going development that leads to successful outcomes |
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What does Harvard business review report about 95% of employees? |
Do not fully understand the company’s goals or what’s expected of them to achieve the company goals. |
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What is grit? |
A combination of passion and perseverance for an important goal, is the hallmark of high achievers in every domain. |
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According to MIT, how do resource restraints affect an organization? |
They can cause an organization to operate more efficiently. Organizations must become more innovative, creative and resourceful. |
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Why we advocate |
It is crucial that credit union professionals advocate on behalf of their industry. If credit unions don’t commit to this advocacy, then who will? |
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What makes a good advocate? |
Knowledgeable, involved, willing and passionate |
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What are 6 key points to know about advocacy? |
1. Unity / clarity of objectives 2. Must remain focused on the goal 3. Everything takes longer than we would like / discipline & endurance 4. Plans are worthless, but planning is everything 5. How we communicate our message is critical 6. We must keep the “white hat” clean / Credibility and trust |
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What is our advocacy goal? |
To revolutionize the environment for credit unions to serve their members through the removal of regulatory barriers and expansion of credit union powers and opportunities |
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Our advocacy goal |
Reduce regulatory burden Enhance payments security Preserve the credit union tax status Expand credit union powers |
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How we advocate |
The three legged stool of advocacy •professional advocates (CUNA & Your league) •grassroots (citizens engagement w/ lawmakers/policy makers) •political action (elect pro-credit union candidates) |
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What are the grassroots programs? (Test) |
CUNA member activation program Project zip code RAP index Hike the hill Credit union legislative action council Army of volunteer advocates (AVA) |
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The Feds “Dual Mandate” |
1. Grow the economy to ensure maximum employment 2. Promote stable prices (manage inflation) |
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Two primary tools of the Feds Mandate |
1. Fiscal policy - Government spending / taxation 2. Monetary policy - changing of supply of money and interest rate |
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What is the monetary policy? |
Economic growth can be influenced by changing the supply of money and changing interest rate. This is referred to as monetary policy. This policy in the US is conducted by the Fed Reserves Federal open market committee. |
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What are the 4 categories of gross domestic product? |
Personal consumption 70% Business investment 17% Gov spending and investment 17% Net export 3% |
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What is a key step in the leadership transition plan? |
Establish a transition committee to drive process |
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Communicate / advocate / negotiate |
This type of advancement includes: written language skills comparison Presentation skills, verbal communication Get the job first |
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Influence |
This type of advancement includes Relationship / affinity Geographic / member understanding |
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Involvement |
This type of advancement includes: Board/advisory roles Charity Volunteering Industry advocacy |
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Education |
This type of advancement includes: Undergraduate Graduate Industry education Designations |
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Business acumen (BQ) |
This type of advancement includes: Business strategy Strategic plan Budgeting / forecasting Human Resources |
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Financial knowledge (FQ) |
ALCO participation Financial understanding - this is not budgeting Investment & scenario exposure |
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Emotional intelligence |
This type of advancement includes: Leadership style Executive decision making •can you handle difficult decisions • paying attention to everyone in the room |
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Experience |
This type of advancement includes: Resume attributes Titles Operational functions Credit union size Management |
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What are the 8 factors for advancement? |
1. Experience 2. EQ, Emotional intelligence 3. FQ, financial knowledge 4. BQ, Business acumen 5. Education 6. Involvement 7. Influence 8. Communicate / advocate / negotiate |
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32% |
What percentage of CEOs have held the position of CFO? |
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Your next steps without the organization |
This type of succession planning involves financial, network/influence, resume & opportunity |
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Organizations next steps without YOU |
This type of succession planning develops leadership to your chair |
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What are the two types of succession emergency / contingency planning? |
1. Organizations next steps without you 2. Your next steps without the organization |
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What is ERM (Enterprise Risk Management) |
A process, not a one time project |
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What is the goal of ERM |
Not to eliminate risk, but question and challenge the way credit unions do business and managing risk at an acceptable level |
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What is the most trusted form of marketing? |
Word of mouth |
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What is Strategic Marketing |
Clearly defining your target audience. There is not a company in the world that seeks to target everyone. You can’t be all things to all people. |
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In marketing, what does targeting do? |
Targeting does not exclude but rather attracts like-minded people. Targeting an audience either demographically or psychographically helps companies innovate and differentiate. |
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Example of target marketing |
Apple was late to digital music. To differentiate from all other MP3 players they used the psychographic model. Their focus was on the type of person that would call a radio station, request a song so they could record it. Someone who had to control their music. It wasn’t the iPod that took over, it was iTunes. |
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Companies that have a really strong brand have what in common? |
They use a technique called a “brand filter”. |
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What is a a brand filter |
Not a gimmick or tag line. It is their compass, or litmus test for making business decisions and acts as their differentiator. |
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What company has the most effective brand filter? |
Starbucks, “to provide and protect the third place” First place is home Second place is the office Third the piazza (Howard Shultz discovered) |
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What is the real definition of brand |
Your reputation |
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What are the 7 key indicators that your reputation may be suffering from? |
Low loan-to-share ratio Low loan approval Average age of credit union borrower (typically 2-5 years older than average age of member) Low delinquency High fee income compared to total loan income Net membership growth (more leave than join) Member satisfaction scores |
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What is the best measure of reputation? |
The net promoter score. Created by Fred Reichheld and Satmetrix, asks the ultimate question: On a scale of 1 to 10, how likely are you to recommend the credit union to a friend or colleague? Why did you answer that way? |
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Net promoter score calculation |
% of promoters - % of detractors = Net promoter score |
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Coveys four zones of change |
Status quo Disruption Adoption Innovation |
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What do coveys four zones of change describe? |
The process of innovation. |
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Status quo |
Where you are at prior to change |
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Disruption |
Change no matter how small creates disruption |
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Adoption |
Decision are made to implement the change. This is the stage where most change fails. |
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Innovation |
You start to see the benefits of the change |
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Intrapreneurship |
A corporate employee who develops new enterprises within the corporation. |
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What does the entrepreneurial mindset emphasizes? (9) |
Initiative Self-direction Risk taking Flexibility Adaptability Creativity Innovation Critical thinking Problem solving |
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The entrepreneurial mindset is a set of? |
Attitudes, skills and behaviors |
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9 building blocks of the business model canvas |
Customer segments Value proposition Channels Customer relationships Revenue streams Key resources Key activities Key partners Cost structure |
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What is the customer profile and 3 components? |
A way to evaluate a particular customer segment. Gains, pains & customer jobs |
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What is the value map and 3 components? |
A way to test your value proposition and is made up of products & services, gain creators & pain relievers. |
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What is the customer development process? |
Developing hypotheses (assumptions) about your business customer segments, products and services and operations. They can be specific. |
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What is the purpose of the Build-Measure-Learn Feedback? |
Learn and iterate |
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What is the philosophy behind experiential learning? |
Learning is more effective when the whole person is actively involved. |
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Boy Scout motto |
Be prepared |
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Research shows the best leaders do what? |
Take risks, are self-aware, and are authentic. |
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What does empathy involve? |
Deeply connecting with another’s feelings to the point that we feel another’s feelings |
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What does being vulnerable mean? |
Are opening ourselves up to experiencing uncertainty and pain. Being truly vulnerable is a courages act. |
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Cultivate your journey |
How are your values connected to conflict? How are your values connected to your roots? |
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Why should you have clarity about your values? |
Can enable you to navigate difficult decisions and effectively engage in feedback loops |
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Why is journaling important? |
Enhances your overall health and well-being, enables you to be more empathetic, increases your emotional intelligence, and reduces stress. |
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What is active listening? |
Proving your understanding of another’s facts and feelings |
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3 characteristics of effective listening |
Acceptance Genioiness Empathy |
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Hero’s fight fair 3 ways |
Behavior Effect Feeling |
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Fundamental Attribution Error |
Many confrontations are doomed from the start, though, because they fall victim to a powerful hard wired bias which is called Fundamental Attribution Error. |
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Confrontive I-Message |
Productive conflict relies on a concept called Confrontive I-Message that contains 3 elements: Behavior, Effect, Feelings |
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why does praise fail? |
Fails because it lacks sincerity and specificity |
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What is a better tactic for praise? |
Appreciative I-Message. Which use the same behavior / effect / feeling model |
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Components of burnout |
Depersonalization Emotional exhaustion Lack of personal achievement |
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