How to Develop Strategic Thinking in Management
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The document discusses the significance of strategic thinking for managers, emphasizing its importance in achieving long-term objectives and gaining a competitive advantage. It outlines the relationship between strategic management training and the development of strategic thinking skills, providing recommendations for effective training programs. Key suggestions include clearly defined learning objectives, real-world applications, meaningful feedback, and ongoing learning support.
How to Develop Strategic Thinking in Management
- 1. Debbie Narver, BSc MBA MScIB Strategic Management Instructor at NMC Strategic Manager How to Develop Strategic Thinking Skills for Managers
- 2. How can managers develop skills in strategic thinking? We first need to understand what it is and why it’s important. We’ll then look at the relationship to strategic management training. And finally, I will provide some recommendations for moving forward.
- 3. What IS Strategic Thinking in Management? Consider & plan for broader, long range objectives. Recognize & navigate the complex inter- dependencies in the business world
- 4. Move from reactive to proactive
- 5. Why Strategic Thinking is important Big picture perspective Achieve competitive advantage. Stay aware of the potential disruptive, game changing events.
- 6. “ ” We found that a strategic approach to leadership was, on average, 10 times more important to the perception of effectiveness than other behaviors studied. It was twice as important as communication (the second most important behavior) and almost 50 times more important than hands-on tactical behaviors.” This article by Robert Kabacoff in the Harvard Business Review summarizes research by Management Research Group (MRG 2013) providing evidence of the importance of strategic thinking. (source https://hbr.org/2014/02/develop-strategic-thinkers-throughout-your-organization)
- 7. How do we develop Strategic Thinking? Strategic thinking in management requires both tangible/technical (strategic management) and “soft”/emotional (leadership).
- 8. Shifting managers perspectives It may require managers to shift their identity from doers to thinkers. This can be challenging, both intellectually and emotionally. We tend to have an identity that has been established over time. And we can have deeply ingrained ways of thinking.
- 9. One approach is to start with a focus on the more technical and tangible Strategic Management skills
- 10. Strategic Thinking and Strategic Management Strategic Management provides the structure for strategic thinking in organizations. It includes common language (vision, mission, values, performance measures, etc……). . It’s provides a framework to achieve goals and vision
- 11. So where to start with Strategic Management Training? What exactly IS Strategic Management? And what specific skills are required?
- 12. Components of Strategic Management Ultimately, all these activities are important to long term success
- 13. Ensure your strategic management training is effective My 5 tips to selecting the right program
- 14. Look for clearly defined learning objectives What will participants be able to DO as a result of the course? Beware of vague promises.
- 15. Make sure there’s an evaluation component How will participants know if the objectives have been met? Should include a self evaluation component, and other methods to test skill.
- 16. Make sure there is an applied component Theory alone doesn’t develop leadership skills. There needs to be some exercises (such as case studies) for participants to simulate how they would use techniques in the real world.
- 17. Make sure feedback is meaningful Perhaps a tool like a 360 survey or structured evaluation can provide insights. Or perhaps a trusted mentor. But be sure to find the RIGHT tool or person that can give you meaningful and helpful guidance.
- 18. Set up for Continuous Learning Don’t expect skills to happen overnight. You may need to do in smaller increments, and take time to practice in the real world. Maybe keep a journal to track your progress? And be sure to celebrate success!
- 19. Summary on Strategic Thinking for Managers 1. These skills are very important for organizations. But they are complex and can be difficult to train for and measure. 2. Strategic Management skills are more tangible, and can provide a framework for developing strategic thinking skills. 3. Look for strategic management training with specific learning objectives, real world application and evaluation tools. 4. Make sure participants receive meaningful feedback, and support for continuous learning.
- 20. Learn more about Strategic Management Development and Training for Managers www.nmcstrategicmanager.com