Tips from the Leadership Coach: Are You a Strategic Thinker?

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Go Back to Searchlight Q4 2012

 

Are You a Strategic Thinker?

Lisa Thompson, Managing Director, Professional Serviceslisa thompson

In a world characterized by increased economic and financial volatility, major corporations are looking for leaders with the ability to see the big picture. It might be a chief technology officer who understands why applications are moving to the cloud and how the bring-your-own-device (BYOD) trend will affect communications in the workplace. Or, a chief financial officer might take a global perspective and look at new asset classes, such as emerging market equities or hedge funds, when considering how best to deploy the company’s capital.

Like other executives in the C-suite, today’s chief executive officer must be a strategic thinker who can look beyond immediate issues and take steps to position the company for the world of 2020 and beyond. For the CEO of a multinational corporation with extensive operations in Europe, for example, that might mean looking at future investments in Latin America or Southeast Asia to broaden the company’s sales base. The CEO of a Fortune 500 consumer package goods manufacturer, distributor or retailer should pay close attention to demographic projections to identify the evolving needs and desires of tomorrow’s customers.

Senior executives who feel they are too engaged in day-to-day decision making can take three basic steps to help broaden their perspectives:

  1. Consider hiring or promoting a subordinate with the operational skills to handle routine issues. Not only does this allow you to refocus your time and energy in different directions, it’s also an important step for the organization’s succession planning.
  2. Carve out time to spend thinking about the future. This might mean reading books, magazine articles or white papers, or attending workshops or seminars on key trends shaping your industry. It’s a good idea to take notes on what you’ve learned, list the key points or prepare a presentation to help pull your thoughts together.
  3. Consider pulling together a “strategic committee” with executives from different disciplines who are comfortable sharing and evaluating individual ideas to come up with an overall vision for the future. (For more tips on how to pull the best strategic ideas from your teams, see our Q3 2012 Searchlight Newsletter article, “Mining for Gold in Your Team.“)

Strategic thinking is the foundation for long-term success in any organization, so make time to become a strategic thinker to improve yourself and your company.

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