You can develop the strategic thinking skills of your managers through building their understanding of strategic analysis and various tools which may provide valuable insights in that analysis. Their knowledge can be extended through useful case examples and studies about competitive business organisations facing similar challenges. Tools which have proven to be very popular include Michael Porter’s Five Forces, McKinsey 7 S Analysis, and Boston Consulting Group Matrix. The value of strategic analytical tools will vary depending on the focus of study. It is important to use those that will add valuable insights and discount those that do not add any useful additional information.
Strategic thinkers are also well advised to refer to Jim Collins work of 2009 – “How the mighty fall and why some companies never give in”. Following up on his “Good to Great” work the author offers a framework based on his research for companies at or near the peak of success and the five stages of decline for which they need to be alert.
Strategic thinking has become more complex because of the increasing uncertainty. At the PPI Network our approach to developing strategic thinking is to develop understanding of appropriate scenario tools, analytical tools and use of relevant case studies, usually from Harvard Business Review, or our own based on real experiences, to foster flexing wider strategic thinking. We also often build in workshop activity where the participants apply the tools directly to their own businesses and self-critique through sub group presentations or have feedback and discussion with the CEO and other top managers.
Get in touch with Gerry Buckley at email@example.com to explore how we can help you.