Discover how to become an effective strategic thinker
Some people seem to achieve the best results, again and again. Is it luck? Or is it strategy?
How to Think Strategically equips you with the skills you need to make the best decisions and develop a powerful strategic mindset.
This hands-on guide tackles both the thinking and the doing, helping you develop a robust strategic plan. It offers a six-step framework that addresses key questions, including:
- Which core challenges do I need to overcome?
- How do I manage uncertainty and risk?
- How do I execute my business strategy?
Visit www.howtothinkstrategically.org for the accompanying app and the ‘Strategic Thinking Manifesto’.
Davide Sola is professor of Strategy and Management at ESCP Europe and visiting faculty at Business School in Finland, India and Italy. He is also a Principal at 3H Partners, who work with multinational organisations and governments in Europe, US and Africa.
Jerome Couturier is an associate professor of strategy and management at ESCP Europe. He is the author of several articles, policy papers, book chapters, case studies and papers presented at international management conferences. He is also co-founder and president of 3H Partners
INTRODUCTION
PART I: STRATEGIC KNOW-HOW
Chapter 1 – What is Strategy?
What strategy is - and what it isn’t.
The Key Elements of Strategy
Identifying the Core challenges
Coordinated, creative and sustainable actions
Creating value
Chapter 2 – What is Strategic Thinking?
What is thinking?
What is strategic thinking?
What does it take to think strategically?
The Strategic Mind.
The strategic thinking process.
Chapter 3 - Turning Strategic Thinking into Strategy
The Link Between Learning And Strategic Thinking
How to Maximise Strategic Learning
Chapter 4 – What is Business Strategy?
The importance of Competitive advantage
How do you create Competitive Advantage?
The right ingredients: the sources of competitive advantage
A recipe: the value creating options
PART II: THE STRATEGIC PLANNING PROCESS
Chapter 5 – Managing the Invisible Hand
What is the invisible hand?
Where does it come from?
How does it become visible?
How can you manage it?
Chapter 6 – Assessing the current situation
Are you in the right place?
Macro Environment Factors
Industry-related Factors
Do you have a competitive Advantage?
Where does superior value creation come from?
Value proposition
Key activities
Resources and competences
Value Network
Organisational culture
Chapter 7 – Identifying the core challenges.
How to identify challenges
How to validate challenges
How to select core challenges - the importance of trade-offs
Defining what success will look like – Strategic Objectives and strategic Guidelines
Chapter 8 – Solving the core challenges
Reducing the complexity of the core challenge
Identifying the key constituents of the core challenge
Understanding the importance of its constituents
Developing potential solutions
Lateral thinking
Solution shop approach
Co-creation workshops
Practical tools for generating solutions
The Blue Ocean Strategy
The 7 degrees of freedom
Selecting the best potential solutions
Timing the initiatives
Chapter 9 -Reducing uncertainty
Experimenting to reduce uncertainty
Phase 1: Stating the underlying assumptions
Phase 2: Testing assumptions about Value
Phase 3: Testing assumptions about growth
Phase 4: Testing assumptions about sustainability
Ongoing testing and learning
Chapter 10 – Managing Execution
A will to act.
A coordinated approach.
Setting the scene.
Launching and spreading change.
Creating a compelling story.
Using Role Models.
Accelerating the speed of change.
Consolidating change.
Glossary: Key concepts and definitions
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