Becoming a strategic thinker
6 Aug 2024
In my work, I speak to numerous business leaders and senior leaders in organisations. Most of the leaders are keen to help their next layer develop ‘strategic thinking’ as a capability. While it is a great aspiration to have, a few different interventions are required to develop the skill. And yes, it cannot be developed through just a single training program.
I recently came across an interesting article in the HBR that dives into this very topic - ‘How to become a better strategic thinker’. I invite you to read this article in case you are looking to develop strategic thinking in yourself or in your team.
In summary, the author has (based on research) identified 3 core behaviours that anyone can develop to become more strategic. These are:
Acumen - Acumen is about how you think: your ability to understand a situation, generate new ideas to move from the current to desired future state, and solve challenges to create new value.
Allocation - Allocation is about how you plan. Strategic thinkers set goals, distribute resources, recognise the risk and tradeoffs when making decisions, and create advantage by offering superior value. Where you invest your resources — time, talent, and capital — is a primary driver of your effectiveness.
Action - Action is about what you do. Preparing a business strategy is only one step; how you implement your strategy determines your success. This requires the ability to collaborate with others, execute strategies to achieve goals, and optimise your personal performance.
In the article, the author has also provided you with 3 questions for each behaviour so that you can evaluate yourself. So go ahead and read this article for great insights.