Strategic Thinking & Strategic Action
Fostering strategic thinking and strategic action by organizational leaders since 2007.
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Action-oriented bias
- Nov 17, 2017 Trump trap: Action-oriented bias Nov 17, 2017
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Approach-avoidance
- Sep 21, 2016 Approach or avoid? Sep 21, 2016
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Bell curve bias
- Mar 28, 2020 We are biased by the bell curve Mar 28, 2020
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Choice
- Oct 5, 2016 Managing choice Oct 5, 2016
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Coaching
- Jan 22, 2024 Coaching and change Jan 22, 2024
- Apr 1, 2021 Let’s not be complacent about our ignorance! Apr 1, 2021
- Mar 10, 2021 So much can go wrong. Here’s how to make it go right. Mar 10, 2021
- Mar 10, 2021 Why settle? Go for the gold! Mar 10, 2021
- Mar 10, 2021 It's time for spring training. Are you ready to play on the A Team? Mar 10, 2021
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Consensus
- Dec 6, 2016 No consensus for consensus Dec 6, 2016
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Decision biases cases
- Oct 19, 2020 Short-sighted thinking: The case of the “hot new smartphone” Oct 19, 2020
- Sep 10, 2020 Changing our thinking to feel better. Yes, we do that! Sep 10, 2020
- Oct 24, 2019 Remember, history is written by the survivors Oct 24, 2019
- Oct 22, 2019 Beliefs about a group matter Oct 22, 2019
- Oct 15, 2019 Not knowing we don’t know Oct 15, 2019
- Sep 19, 2017 Case 12: Not missing the opportunity to lose billions Sep 19, 2017
- Aug 29, 2017 Case 11: Getting bitten by not seeing it Aug 29, 2017
- Aug 29, 2017 Case 10: When what worked didn’t work Aug 29, 2017
- Aug 28, 2017 Case 9: The climbers who perished by succeeding Aug 28, 2017
- Aug 28, 2017 Case 8: No accounting for incompetence Aug 28, 2017
- Aug 16, 2017 Case 7: Blind or incompetent? Perhaps both… Aug 16, 2017
- Aug 16, 2017 Case 6: Seeing what he wanted to see Aug 16, 2017
- Aug 13, 2017 Case 5: Getting burned by past successes Aug 13, 2017
- Aug 2, 2017 Case 4: I’m the boss, so I am right! Aug 2, 2017
- Aug 2, 2017 Case 3: The experts were wrong Aug 2, 2017
- Aug 2, 2017 Case 2: The battle that didn’t go as expected Aug 2, 2017
- Dec 12, 2016 Failure without facilitation: The French Canal Disaster Dec 12, 2016
- Oct 26, 2015 Decision traps, flaws and fallacies: Learn from my unexpected big decision Oct 26, 2015
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Decision making
- Nov 6, 2024 Rise of the poker pros: 10 lessons for great success Nov 6, 2024
- Jan 5, 2024 What’s your magic number? Jan 5, 2024
- Oct 9, 2023 AI revisited: Will it ever make perfect decisions? Oct 9, 2023
- Sep 4, 2019 “The instant of decision is madness” Sep 4, 2019
- Apr 23, 2018 Despite our growing ignorance, we must decide Apr 23, 2018
- Apr 12, 2018 Can “Big Data” deliver “the right decision”? Apr 12, 2018
- Jan 18, 2018 The worst accident: “We’re going!” Jan 18, 2018
- Mar 8, 2015 10 surprising mental traps: Why we make bad decisions Mar 8, 2015
- Mar 10, 2014 Often wrong but never in doubt Mar 10, 2014
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Decision making biases
- Mar 10, 2021 So much can go wrong. Here’s how to make it go right. Mar 10, 2021
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Evidence
- Dec 16, 2016 Misuse of evidence can zap your strategy Dec 16, 2016
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Evolution
- Aug 6, 2016 Smart phones on the savannah Aug 6, 2016
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Gratitude
- Oct 25, 2017 Thank you for our connection Oct 25, 2017
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Group decisions
- Nov 15, 2016 #2 error: Not using the group advantage Nov 15, 2016
- Oct 22, 2015 Open up your thinking: Make better decisions in a group process Oct 22, 2015
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Leadership
- Nov 14, 2016 #1 error: The leader problem Nov 14, 2016
- Feb 1, 2016 Leaders who mislead: A tale of two movies Feb 1, 2016
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Pre-mortem
- Sep 12, 2016 Thinking “as if” Sep 12, 2016
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Risk
- Jun 9, 2020 The Black Swan and us Jun 9, 2020
- Jan 10, 2017 The risk of ignoring risk Jan 10, 2017
- Oct 14, 2016 Risk and regret Oct 14, 2016
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Strategic planning
- Dec 17, 2024 Why New Year’s resolutions fail: The problem of implementation Dec 17, 2024
- Nov 10, 2024 Are you ready to bat? Nov 10, 2024
- Oct 9, 2024 Drift and big change challenge our success Oct 9, 2024
- Aug 19, 2024 Get real when you plan! Aug 19, 2024
- Apr 10, 2024 Bridge the strategy gap Apr 10, 2024
- Feb 23, 2024 Don't waste your time planning, unless... Feb 23, 2024
- Dec 18, 2023 The secret sauce of successful plan implementation Dec 18, 2023
- Nov 20, 2023 How to build commitment to change, revisited Nov 20, 2023
- Oct 3, 2023 Success Starts With a Big Vision Oct 3, 2023
- Aug 24, 2021 Sometimes you get what you need Aug 24, 2021
- Feb 25, 2021 Do you measure up? Feb 25, 2021
- Jul 28, 2020 Forget business as usual Jul 28, 2020
- Oct 9, 2014 What’s driving your organization? Oct 9, 2014
- Feb 20, 2014 This is not an infomercial Feb 20, 2014
- Feb 11, 2014 The Big Fail Feb 11, 2014
- Mar 12, 2013 Parsimony and planning Mar 12, 2013
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Strategic thinking
- Feb 27, 2024 Desirable difficulties Feb 27, 2024
- Jan 13, 2024 Business model question: Produce or provide? Jan 13, 2024
- Jan 5, 2024 What’s your magic number? Jan 5, 2024
- Jul 5, 2023 Think wide to succeed: How will you compete? Jul 5, 2023
- Mar 25, 2014 Flight 370 and strategic thinking Mar 25, 2014
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Strategy
- Jul 23, 2024 Your pricing says it all… But what does it say? Jul 23, 2024
- Jun 23, 2024 We are people, not transactions Jun 23, 2024
- May 22, 2024 Is excellence - or failure - ahead? Answer five questions to know May 22, 2024
- Apr 8, 2024 What do your customers expect? Apr 8, 2024
- Nov 13, 2023 Demand a great brand! Nov 13, 2023
- Oct 31, 2017 Why not plan to be great, like Elon Musk? Oct 31, 2017
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Success
- Jul 24, 2019 22 principles I have learned from being an athlete Jul 24, 2019
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Sunk cost fallacy
- Mar 21, 2015 Sunk cost fallacy: Throwing good money after bad Mar 21, 2015
Take a deeper look
The lens we look through changes what we see. It's easy to think a simple and familiar underlying process is at work or fundamental truth is at the root and that we are seeing part of it or its results.While something is certainly underneath what we see, I think we are foolish to reduce it to something simple, familiar and fundamental. After all, when we think about it we know that what we see is really the result of a phenomenally complex system or, better stated, the interaction of phenomenally complex systems. Indeed, we can see the effects or results of these systems - a flower, a stock market drop, an entrepreneurial opportunity - but it is impossible to fully grasp or describe the system and how it works. Only when we isolate parts or pieces can we see dimly lit clues about how it works - mapping DNA to explain the human body, a stock price prediction model that poorly fits reality, volumes of market data that indicate changing consumer preference.
You can see it coming
Look at the cloud. That's certainly a place I would look if I were trying to envision a future for an organization and understand changing market and business dynamics. The buzz about SaaS (Software as a Service) and cloud computing has been increasing, with Steven Jobs' recent announcement of Apple's iCloud service just the latest entre' on the growing menu, The potential for cloud computing and SaaS to bring paradigm shifting opportunity and disruption was brought home at a Proformative seminar for CFO-types that I just attended. My mission as a general manager, strategist and marketer infiltrating this seminar was to gain a better understanding of how medium-sized and growing organizations can gain traction by employing newer financial tools.
Making innovation imperative
Over the past few weeks I have encountered the topic of innovation at seemingly every juncture: At a symposium on facilitating group innovation. In a business school strategy group discussion of writings on the process of innovation and how to foster it in organizations. Through the work of a non-profit that provides STEM (science, technology, engineering and math) education to kids to encourage invention. From an insightful trade association executive who spoke about the need for associations to launch innovation processes to assure their sustainability. From this immersion in innovation thinking, a big take away is that innovation starts with a person. It starts from a person being creative, open, curious and willing to entertain change.
What you say still counts
In the social media tsunami, many of us are running hard to stay ahead of the wave. The overall volume of conversation is rising rapidly, as are the demands and opportunities to participate.Like any new paradigm, this one calls on us to learn new ways of thinking and behavior. For instance, how do we best mine the brevity of the 140-character Twitter post? What bit can we toss in as our blog entry that will not just be something that says "me too"? How do we find the time to check in on LinkedIn and Facebook and monitor Twitter while carrying on our analog lives and not offending those we need to interact with face-to-face? How can we best use all these platforms to carry our strategic business messages and not just banal observations? How do we seamlessly weave them into our work lives to increase our scope and power as professionals?
Encouraging adaptation
How suited are today's management systems to the challenges at hand? That was the question raised in a discussion among a group of University of Chicago trained strategists.
The biggest factor
Next time you are looking at an organization that is not performing well, ask yourself, what's the cause? Of course, the cause could be one of many: Lack of funds and investment, insufficient or unsuited staff, ineffective technology, misguided marketing, "me-to" branding, high cost structure, misunderstanding of customer needs, and so on. At the University of Chicago Booth School of Business Management Conference last Friday, Professor James Schrager described a handy three-option construct he uses to parse the success or failure of organizations.
Grab the wave
Wikipedia: "Knowledge is a collection of facts, information, and/or skills acquired through experience or education or (more generally) the theoretical or practical understanding of a subject."After sitting through my second "How to use social media for business" presentation in a week (both well done, but that's not my point), it hit me: We are trying to grab a wave.
Out on the edge
Should strategic thinking focus on the seen and known or the unseen and unknown? That might sound like a ridiculous question. How can you focus on something that is not there, something that you don't know about?
What do you anticipate?
Much of life is anticipation. From my vantage point I can see many things being anticipated. Where I am, this is the spring that isn't: We are fervently awaiting warmth. Likewise, we await some kind of positive resolution in Libya after the hurried imposition of a no-fly zone. The Japanese people are desparately awaiting the staunching of radioactivity from their crippled nuclear reactors. Investors are awaiting first quarter earnings reports and more signs of economic growth. Note that the examples I give of anticipation are all macro: the weather, a war, a catastrophe, the economy. These are things that we have little or no control over. We cannot shape them. We can only experience them.
So much good thinking in one issue
Anyone interested in strategic planning and leadership needs to keep current with trends, experience, the "cutting edge" and "what's next." You can imagine that as a former financial/business journalist and publisher I am voracious in my consumption of business information. I consume - off and on - The Wall Street Journal, the Financial Times, the business sections of my local newspapers, CNBC, Bloomberg, Market Place, all sorts of web sites, trade publications and more.
Look for the elegant strategy
A elegant strategy is one that fits. That falls into place. That works with style and ease.
The distraction factor
On the road to wherever you might be going, isn't it often the case you get distracted or pulled in a new direction and turn off, stop, veer away, wind up not where you were headed? Sometimes this is serendipity, the new direction or destination much more interesting and positive. But so often the change of course or pace results in a lack of progress or achievement. In this wired, social media, ad-driven, sensory age we have so many things pulling at us, infiltrating our consciousness, diverting and distracting us. Something of these intrusions are actual opportunities, but for the very greatest part they are not.