Clearly, leaders need to be able to think strategically in order to lead effectively. But what does “strategic thinking” actually mean?
In our Expert Interview with Rich Horwath, he defines “a strategy” as a plan to allocate your limited resources, time, talent and budget to achieve your goals and objectives; and “strategic thinking” as the ability to generate new insights or ideas that achieve some kind of advantage.
For Horwath, this advantage can be gained by focusing on three disciplines:
- Coalesce (or bring together).
In his new book, “Elevate“, he explains how you can use these disciplines to your advantage, and he discusses the importance of ‘tradeoffs’ – choosing what not to do.
Check out the rest of our Expert Interview (premium members only) for more of Rich’s tips on strategic thinking.
Question: What’s your definition of strategic thinking – and how can we get better at it? And what do you prioritize when developing strategy? Join the discussion below!