Think realistically, think creatively, think big, and think continuously. These are the four parts of ‘strategic thinking’ that Morgen Witzel describes in ‘How to be Your Own Management Guru’ (www.penguinbooksindia.com).
He begins by stating that strategy is in some ways one of the most difficult business processes to understand. It takes place almost entirely in the mind, so you cannot set up a production line to build a strategy, the author reasons. “Strategy is arrived at by thinking, imagining, and planning.”
Even in the military context, he feels that strategy is more than manoeuvres and formations and fortifications; it has to do with ‘preparedness and readiness, knowledge of the environment and of the opposition, understanding one’s own capabilities and flexibility and capacity to react quickly to unforeseen events.’
Be realistic
All strategic thinking has to start from a realistic appraisal, firstly of the organisation and its resources and capabilities, and secondly of the business environment, says Witzel. Since organisations are not changed overnight, constraints of structure and resource require a careful consideration.
He urges business leaders, therefore, to ask several questions when a given strategic option is considered; such as, whether the business has the technology and tools, the right people, and enough money.
As for the business environment, being realistic means a focus on what the consumers want, and forecasting demand based on evidence rather than hope. “Yet, time and time again, companies launch new products in the stubborn belief that a ‘good design’ or a ‘good product’ will capture consumer attention.”
Be creative
Think creatively ‘out of the box’ by testing the boundaries of what is possible, and looking for new strategic opportunities that rivals may have ignored or overlooked, the author advises.
Dispelling the common notion – that being realistic and being creative are opposites – he instructs creative thinkers to ensure they can act on their visions; else, they are nothing more than dreamers! “One of the most important elements of strategic thinking is to recognise which dreams can be made possible, and which are just that, dreams.”
Big chase
Thinking ‘big,’ as Witzel elaborates, is thinking over long time spans and across wide areas. He expects the strategic thinker to look into the future, as far as possible, trying to gauge what will happen, what would be the probabilities and risks, even when designing a five- or two-year strategic plan. For, long before that plan has rolled out and come to fruition, work must start on the next one.
“Time does not come in increments; it is a continuous flow. The strategic thinker knows this, and is constantly straining to see into the future. At the same time, he or she also looks back into the past, searching for patterns and information that will help interpret what is going on.”
Be at it
All three of the above need to be done on an everyday basis, the author insists. “The strategic thinker does not sit down one morning and say, ‘This is Thursday, so I will think about strategy today.’” Strategic thinkers, instead, have to be flexible and adaptive, even as new technologies and markets open up, fresh threats and risks appear, and key people arrive and depart.
Prescribed read for contemplative self-learning moments.
