What does it mean to be a strategic thinker — and how can you build your strategic-thinking muscle? It comes down to three key competencies: acumen (how you think), allocation (how you plan), and action (what you do). Here’s how to develop each one.
- Acumen. Start by assessing your organization’s current context, both from an internal perspective (culture, purpose, processes, etc.) and external perspective (market trends, customer behavior, competitive landscape, etc.). Then get comfortable sharing your valuable insights with your team and key stakeholders. Finally, look for novel approaches to the problems and opportunities you identify.
- Allocation. A strategic mindset entails the ability to constantly focus and refocus your resources, the courage to make trade-offs and tough decisions, and the willingness to ensure that your use of resources always aligns with your goals and pushes you forward.
- Action. Preparing a strategy is just the first step; how you implement it determines your success. Implementation depends on collaboration and execution. So focus on sharpening your communication skills to deliver your messages effectively (listening to feedback when it arises), and keep your team on track by measuring its performance along the way.
Read the full article: "How to Become a Better Strategic Thinker," by Rich Horwath
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Chartered Accountant at G.Satapathy and Company, Chartered Accountants
1 年Thanks for sharing
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1 年Very useful
PhD, Particle Physics| x-Oxford, x-CERN??| P&G Data Analytics Lead to Multibillion$ Brand| Cambridge trained Coach| Award-winning Keynote Speaker| TEDx Speaker| 3Dan Martial Arts Instructor| Licensed Skydiver| Mom of 2
1 年Loved the insights on strategic thinking! The breakdown into acumen, allocation, and action is spot-on. Assessing internal and external contexts is crucial, and the emphasis on making tough decisions and aligning resources resonates. Adding that fostering open communication enhances implementation and adaptability would be my takeaway. Fantastic read! ??
Head of Business Development | Board Member Security Traders Association CT | Chair STA Women in Finance
1 年Thoroughly enjoyed this read. Acumen/allocation/action: how you think & innovate, how you plan & evolve, and how you implement. Strategic thinkers I’ve respected most are those who are self aware of an organizations internal intricacies as well as the firms external strengths/weaknesses. Leveraging that and moving into action while practicing adaptability and showing resiliency as you work towards your goal. The best part of this article though…”While beauty may be in the eye of the beholder, strategy is in the behavior. “ ??????