Think Big, Move Fast, and Own the Outcome

How can you drive disruptive innovation and gain competitive advantage in a highly-regulated industry?

In this episode, Rich sits down with Dennis Devine, President and CEO of Alliant Credit Union, one of the largest and fastest-growing credit unions in the United States. Dennis explores how to design differentiated strategies that disrupt industry norms, build a member-centric culture, leverage data for innovation, and form strategic partnerships. He also shares how he thinks in three time horizons and ensures that every leader on the team is an effective risk manager.

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Key Quotes

“Almost no organization is big enough to try to be everything to everyone, and as soon as you try to do that, and you’re unwilling to make those trade-offs, you lose the opportunity to be distinctive in the areas that you can be distinctive.”

“There’s no value in just looking busy and just doing the busy work. There is value in having the big idea or leading the significant effort.”

“It’s important that every leader in a high-performing organization, I think, be a risk manager and think that’s part of their role.”

Practice Makes Profit

Using the strategic fitness system as a way for leaders to practice the skills that are fundamental to success.

League of Strategic Minds

Is SWOT analysis still a valuable strategic planning framework?

Winsights: Ideas for Advantage

“Michael Porter, Professor at Harvard Business School, wrote, “There is no best auto company. There is no best car. You’re competing to be unique. Consider your people, their competencies, capabilities, and company offerings. What’s unique and are you leveraging those areas of uniqueness into competitive advantage?”

References 

Time stamps:

(00:41) Deep Dive Interview with Dennis Devine

(42:29) Practice Makes Profit

(45:30) League of Strategic Minds

(47:30) Winsights, Ideas for Advantage

Links

Submit a question for Rich to the League of Strategic Minds

Dennis Devine on LinkedIn

Rich Horwath on LinkedIn
Rich Horwath on YouTube
Rich Horwath on Instagram
Strategic Thinking Institute Website
Inc. Magazine’s Top 4 book for 2024: STRATEGIC  Book
New executive development platform: Strategic Fitness System
Sign up for Rich’s free Strategic Thinker Newsletter

About the Guest 

Dennis Devine
CEO of Alliant Credit Union

LinkedIn

About the Host 

Photo of Rich

Rich Horwath, Founder & CEO
Strategic Thinking Institute  

Rich is a New York Times and Wall Street Journal bestselling author of eight books on strategic thinking, including his most recent work, STRATEGIC, which was named a “top 4 must-read business book for 2024” by Inc. Magazine, and a national bestseller by USA TODAY. He has been the top rated keynote speaker on strategic thinking at national conferences for nearly 20 years.

This Episode Brought to You by the Strategic Thinking Institute

Sharpen your strategic thinking for long-term success.  

The Strategic Thinking Institute has developed hundreds of resources to help leaders at all levels think, plan, and act strategically. In addition to facilitating workshops and strategic coaching with executive leadership teams, STI has assessments and products for functional groups such as sales, marketing, finance, human resources, operations, information technology, account management, business development, accounting, clinical, medical, and other technical specialties. STI’s experience in a wide range of industries brings your team the best-of-breed practices and resources to enable your team to outthink and outperform the competition. Remember, be strategic … or be gone. 

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