According the WSJ, strategic thinking is the most valued CEO skill.
Horwath starts with a discussion on why strategic thinking is critical. And to usual list of reasons why it does not get the attention it needs. He then quickly moves into his 3 disciplines.
First - Coalesce - fusing together insights to create an innovative business model.
Second - Compete. Choose what strategies have competitive advantage (I am big on competitive advantage and view it as the cornerstone to success).
Third - Champion - Leading others to think and act strategically. And execute the strategy. (I have found often that implementation is what kills good strategy).
Good thought provoking book.
The main challenge I have with strategic thinking is dedicating the inspired time. It is difficult to just say I will spend an hour on strategic thinking and come up with something brilliant.
But most of the problem with strategic thought happens because it is not urgent (although it is very important). So like many important tasks, it can get pushed aside for the urgent.
Things I do to inspire strategic thought:
1 - read and research. Without background, it is tough to come up with good strategies.
2 - Plant the seed. I spend a 15-20 minutes trying to frame the challenge. Then I leave it and go about my day, ideas come to me. I often use this technique just before sleep as well.
3 - Log ideas. I find ideas are sometimes lost but writing them down "saves" them.
4 - Set goals around doing it. By setting goals and deadlines, I can artificially create urgency.
I thought this article on how time could be used better was awesome.
Interesting how colorful socks have "tipped" and seem to be the norm in the startup community.
See http://youtu.be/BtXH3shC5O8 - a company owned by friends of mine.
Mark Fasciano's father was featured on CBS. I have met Nick many times. He is a true artist.
Rain last night turned into snow this morning. And it is March 31 in NY of all places. An early April Fools joke perhaps?
And the New York Times had a cover story on climate change. I wonder if they had the article prepared and waited for a day such as this to release it.