This book makes an important contribution to strategic thinking because it is based on input from successful executives who were prompted to reflect on how they formulated and even more importantly, implemented strategy. As always, we are keen to ensure that we highlight the key takeaways from our reading of the material to save the reader time and allow for maximum application in the shortest possible time. Of course, we recommend that participants take the time to read the full text to round out their knowledge.
Sloan describes 5 attributes that contribute to successful strategy making:
1. Having an Imagination;
2. A broad perspective;
3. The ability to juggle competing demands;
4. The ability to deal with things you cannot control; and
5. An adamant desire to win.
Thinking strategically assists the executive to add value to their team and align the activities of the team to important organisational goals. Discerning the right pathway forward and assisting each member of the team to understand how their contributions relate to team, group and corporate goals is an important part of the executive leader's role.
Having an imagination relates to developing a picture of what success looks like, selecting proximal goals that motivate and reward people for meaningful contributions and allowing for maximum autonomy within each role. Through dialogue and discussion with reports, peers, and leaders, the strategist is able to develop a clear picture of desired goals and is able to generate enthusiasm - the opposite of the dreaded micro-management approach.
Developing a broad perspective invites more creativity in the strategy-making process. When working with executives, I am always curious when, inevitably, a personnel challenge reveals itself and conflict is on foot. Is the person we are in conflict with considered difficult? Is there a clash of ideas, of personality, or an argument? Developing a broad perspective and being open to new ideas is a habit that can help executives to reframe these difficult moments and listen out for the new idea, innovation, or unpopular truth.
The need to juggle competing demands is entirely normal. Traditional management training usually emphasises prioritisation of tasks and learning to distinguish between urgent and important tasks. Of course, this is a good starting point for managers who are tasked with implementing plans, but this level of thinking sits within an already established framework. Developing a culture of effective strategic thinking may assist, even within a defined framework, where group members are encouraged to think about how they are approaching their work. We psychologists call this "meta-cognition", or in other words, thinking about how we think!
Making decisions based on incomplete information can be risky business, but not making a decision can be lethal to a business. Sloan reports the fascinating result from her interviews that the successful strategists who indicated that it was "critical to pay attention to what they could not control, in order to make a winning strategy".
The successful executives were open about the role of risk and fear as motivators for effective strategy making, and providing the emotional motivator for learning to make strategy. The maxim necessity as the mother of all invention comes to mind. Sloane comments that the emotional components of fear and reward helped to stoke the successful strategist's desire to win, which suggests that those who seek out challenging strategy roles probably are competitive by nature.
Link to Amazon - Learning To Think Strategically Julia Sloan
Executive presence
One of the key reasons that emerging leaders and executives seek to improve their strategic thinking and behaviour is to enhance their executive presence. The executive presence domain, is Domain 3 of the Aspire 4 Domain Model of Coaching and describes the social context and public displays that logically flow from preparation within the Wellbeing and Self-management domains.
In other words, good leadership behaviours that are visible to others stem directly from a great deal of hard work, self reflection and disciplined thought in the first 2 domains.
Link to coaching practice
Coaching sessions with executives often involves the development of detailed strategies regarding a particular challenge, upcoming meeting, or management of emerging risk. Urgent and important daily issues are part-and-parcel of an executive's workload, as is paying attention to self-management, own health and balancing work and life priorities. Winning time to think strategically demands that when that opportunity arises, the executive has an identifiable process to rely upon to ensure that precious strategic thinking time is used effectively.
Link to the General Manager (GM) 6 Principles of Effective Management
The General Manager 6 Principles of Effective Management (otherwise known as the "GM6") serves as an aide memoir for anyone who has staff or direct reports. In my experience, teaching managers to anchor their behaviour in the principles of organisational fairness and communicating with staff in a helpful and business-like manner wins more time for strategic thinking.