Strategic Thinking for Personal Growth Beyond the Workplace

Summary:?The concept of strategy or strategic thinking is often perceived as the domain of top management, CxOs, and leaders. However, I?offer a refreshing perspective as a strategy professor and consultant. I view a strategic mindset not as an exclusive skill for these roles but as a cognitive ability that anyone can cultivate, much like a critical or creative mindset. This inclusive view empowers individuals at all levels of their career or life journey to develop and apply strategic thinking, making it accessible to all.

?In general, the word?Strategy?is a thinking pattern most people associate with at a certain level in their career or life journey. As thought leaders, we think of strategy as tuning thinking to align elements?of anticipation, articulation, and response?to any situation or the desired goal. These may be obvious and relatable when associated with leaders accomplishing a change and presenting their stories to inspire others. Jeff Bezos, the founder of Amazon, is a prime example of strategic thinking in action. His ability to anticipate market trends, innovate, and execute on a grand scale has transformed Amazon into a global e-commerce giant. By recognizing the potential of the internet early on, Bezos invested heavily in building an online bookstore and later diversified into other product categories. Amazon's commitment to customer satisfaction and strategic acquisitions, such as Whole Foods Market and AWS, has further solidified its position as a market leader. Bezos' long-term vision, adaptability, risk-taking, and customer focus are not just takeaways, but they are inspiring examples of how strategic thinking can transform individuals and organizations, inspiring them to reach their full potential.

?The 'new normal' or new economic paradigm will usher in dynamic changes that demand less of the standard skillsets and more of strategic thinking, analysis, and problem-solving. A strategic mindset involves planning, monitoring, processing, and adapting approaches to reach a specific goal. Developing a strategic mindset is a reflection of your engagement in strategic behavior. Purposeful thinking is a conscious and mindful act. We are familiar with critical, analytical, or lateral thinking, each adopted to achieve a specific outcome. Even students and ordinary people engage in these common forms of thinking.?

?A less-known fact is that strategic thinking or a strategic mindset is also a skill set people can develop. We come across many situations in life that would require a strategic perspective. There are thousands of Indian students studying medicine in Ukraine. The war disrupted their education and threatened their safety. Many Indian parents were thrown into a state of frenzy. A strategic mindset will enable us to handle various predicaments of life. A leader or an entrepreneur needs strategic thinking to ensure he reaches his vision, and a manager requires it to equip his unit or department to outperform. Strategic thinking is not only for the corporate world but also for individuals like you and me. Parents, students, and especially job aspirants need to develop a strategic mindset to meet their personal and professional aspirations in life.?

?The Fourth Industrial Revolution, more commonly known as Industry 4.0, is transforming the labor market, ushering with its wave of?new jobs unheard of before. The pandemic has permanently altered how we work and perceive life. The world is changing at a speed and pace never heard of before. The youth of our generation need to be prepared for the brittle, anxious, non-linear, and incomprehensible (BANI) environment. My recent research on the new economic paradigm states that strategic thinking is one of the skills in demand?for the new normal. People from all walks of life can explore and develop a strategic mindset. For example, the most used and well-known strategic tool is the SWOT analysis. Organizations mainly neglect this tool as too fundamental and often ignored by individuals as not relevant and simplistic. Individuals can apply this tool to their lives and be assured that their decision-making will yield better directions. Now, instead of making it complicated, let us keep it simple.?

?Step 1- Take a paper and pencil.

?Step 2—Make four boxes; your strengths and weaknesses are associated with you, and opportunities and threats are associated with your environment.

?Step3- Write down the top three points for each:

Strengths- Your talents and capabilities

Weakness- Your shortcomings?

Opportunities- A chance where you could leverage your strengths to be successful or profitable

Threats- A situation/possibility that could dampen your profitable position

?Step 4- Place on your tabletop and reflect.

?Step5- Integrate them to make your decision

?These are five simple steps to start flexing and building your strategic thinking muscle.

?Now let's simplify it further into small achievable action steps for a typical persona and in their everyday life. For example, Malathi loves long drives and exploring unknown territories with calculative risk and resources. I am sure most of you reading this article relate to this situation, expression, and energy. After a while, she realizes that she is off track from the pathway defined; she relies on her gut sense + resets her GPS + enquires a bit on the phone with a friend, and continues her journey. She reaches the destination with some drama & adventure well accepted in her head. Once out of the car, she takes a deep breath and discusses the achievement to celebrate her journey. Every one of us has encountered such moments in our lives of twists & turns. How many times have we looked at it as strategic thinking??Here are some more illustrations of how strategic thinking can be applied in various personal contexts, empowering individuals to make informed decisions and achieve meaningful goals.

?A high school student aiming to gain admission to a prestigious university can significantly benefit from strategic thinking. This involves researching the specific admission requirements for their target schools, which may include standardized test scores, GPA, and extracurricular activities. By planning a rigorous course load that aligns with these requirements, the student can ensure they are academically prepared. Additionally, identifying extracurricular activities that showcase leadership skills and personal passions will strengthen their application. Developing a timeline for standardized test preparation and application submissions further enhances their strategy, allowing them to approach the admissions process with confidence and clarity.

When a couple decides to start a family, strategic thinking is crucial in ensuring they are prepared for this significant life change. They can begin by assessing their financial stability and creating a budget that accounts for child-related expenses such as healthcare, childcare, and education. Researching childcare options and costs in their area allows them to make informed decisions about what works best for their family. Furthermore, planning career adjustments to accommodate parental leave and maintain a healthy work-life balance is essential. By considering long-term goals like education savings and housing needs, the couple can create a comprehensive plan that sets them up for success as new parents.

For individuals looking to impact their community positively, strategic thinking can guide their efforts effectively. They can start by identifying key neighborhood issues through research and resident conversations. Evaluating personal skills and resources that could be contributed allows them to determine how they can best help. Researching existing community organizations and assessing their effectiveness provides insight into where they might fit in or if gaps need filling. With this information, individuals can develop a plan to either join an existing initiative or start a new one, establishing specific goals and timelines to measure their impact.

Someone aiming to improve their health can use strategic thinking as a powerful tool. Setting specific, measurable health goals—such as lowering blood pressure or losing weight—provides a clear direction for their efforts. Researching evidence-based approaches to achieving these goals ensures they utilize effective methods tailored to their needs. Creating a realistic plan incorporating dietary changes, exercise routines, and lifestyle modifications is essential for sustainable progress. Additionally, identifying potential obstacles—such as time constraints or social pressures—and developing strategies to overcome them will help maintain motivation and commitment to their health objectives.

?In pursuing career advancement, strategic thinking is invaluable for individuals looking to navigate the complexities of the job market. Analyzing industry trends and future job market demands allows them to identify the most valuable skills in the coming years. They can create a targeted plan to acquire necessary training or certifications by pinpointing skills gaps in their current qualifications. By seeking mentors and critical connections, building a professional network strategically?can open doors to new opportunities and insights within their field. Finally, setting short-term and long-term career goals with specific milestones enables individuals to track their progress and focus on achieving their professional aspirations.

Now, replay this: what we saw as a pattern is a response to a situation in a more anticipated approach + courage to take risks + never give up with focus = result/outcome/end state. Imperatives at this moment were more conscious action steps and staying flexible with the path and not the outcome. How difficult is it to replicate this consistently in everything we do to tune our thinking and response to a development with a bold approach? And speak about it so it transpires in repeatability to the brain.

What does it take to fix a thinking pattern and continue building a balance to respond as a leader??

1. Actions aligned with the outcome?
2. The measure of strategic thinking is the impact or value it creates
3. Creating a balance with the elements that are core to augmentation

Concluding statement

Developing a strategic mindset is a possibility for everyone. Strategic behavior can be learned and acquired. It will increase our ability to handle uncertain circumstances by consciously building scenarios, creating a future road map, monitoring, and adjusting decisions/approaches to pursue personal and professional goals. Strategic mindset – augmenting the way we think and respond.