Strategic thinking involves the creation and powerful application of unique business insights that are intended to generate a competitive advantage for an organization.
This ability to come up with effective plans to address the economic situation of a company’s objectives is considered a crucial skill for leadership. Strategic thinking demands that leaders elevate their thinking so that they can see beyond the fundamental elements of the organization.
Strategic thinking requires a focused business vision and a defined personal vision.
Leaders who practice advanced strategic thinking have developed a framework of 3 disciplines that has taken time and commitment to master. These 3 principles are:
1. Champion a Group’s Strategic Direction Through Effective Leadership
Elevated thinking means also leading others to think and act strategically in order to execute strategy successfully. This involves having to make the difficult decisions that may not benefit or please everyone.
Every organization needs to undergo necessary changes when needed, and this may mean having to move resources such as time, people, and budget. Unfortunately, these reforms could negatively affect those involved. Those who may feel under attack need to be led by a champion who will defend the strategy and influence others to recognize that these decisions are for the future success of the organization.
2. Compete To Reach a Goal
In business, there is always someone who is seeking to achieve what we seek. A leader needs to think strategically about how to approach a new challenger to gain a competitive advantage.
If you find yourself as the challenger entering the leader’s market, think about what customer needs are not being fulfilled currently. How can you offer something different from the leader’s offering? How do you compare to the leader’s competencies and capabilities? Differentiation has proven to be the primary means of delivering superior value.
Strategic thinking means not complaining about what you and your organization lack in resources but rather promoting your attitude towards finding solutions to position yourself in the leader’s market.
3. Bring Together Insights
Strategic thinkers have the ability to generate insights that they can fuse together into a business model that is innovative thus giving you that competitive advantage. Instead of having a strategy that is random, opportunistic, and lacks consistency, leaders who think strategically generate behavior that is patterned and organized.
The lifeblood of any business is building channels of profitable growth that is continuous and consistent. Insights that are strategically brought together to build a strong business model result in financial excellence. The successful joining of insight results in innovative approaches, unique products, new services, or fresh solutions that outperform the competition.
Do you agree that these are the 3 disciplines that leaders who wish to master advanced strategic thinking skills should have? I would love to hear your thoughts.
If you found value in this blog and have time, let’s discuss further. I would like to offer you a complimentary ½ hour executive coaching session on this blog or on a leadership topic of your choice — valued at $175.00.
If this sounds good, you can use this following link to schedule a time convenient to you for us to chat: http://meetme.so/GregNichvalodoff I look forward to furthering our connection and learning more about you and your business.