Transformational Change Flashcards
Credit unions are navigating what?
A transformational era
What reason are there that Americans are underserved by the financial industry?
Rapidly evolving member expectations for ease of use
Emerging technologies combined with underinvestment in member facing technology
An outdated business model
Where do we start to ensure relevancy?
Focus on who
How can we understand whom we should focus on with transformational change?
Use empathy, understand who we are trying to help.
Once you clearly define your primary, prospective member, the next step is to understand them deeply, which focuses on understanding their _________
Needs
The best way to deeply understand someone is to use?
Empathy
What is the difference between empathy and sympathy?
Empathy - involves an understanding of what others feel because you have personally experienced the feeling or you are able to put yourself in their shoes.
Sympathy - Acknowledging another persons emotional pain and providing comfort to that person.
Empathy allows us to see the world as others see it in a ____________ way.
Non-judge mental
What is the first thing can we do to empathize with a specific person or group?
Nonjudgmental listening
What methods exist to help us be better empathizes?
Create an empathy map
Life simulations
Watching a movie or reading a book (with intention)
Once you define who, define _______?
Why
A differentiation exercise includes ranking and mapping your ______________ on an x-y axis based on satisfaction.
Products and services
Once we have mapped our products and services for our specific group what should we do?
Compare to our competitors.
What is the empathy map?
Making up a person in our target group and helping to see what they see, hear, feel, pains, gains.
When creating the empathy map, what are we doing?
Research, the most important step.
