Strategy / Strategic Thinking

Submitted by Hugo Fernandes
in
General Questions and Comments
Hello Mark and Mike and everyone else on the boards. Does anyone have any book suggestions on how to think strategically or strategic thinking in of itself? I’m always trying to wrap my head around that and was looking for some help. Thanks!
Submitted by Bill Gallagher on Tuesday January 9th, 2007 5:23 pm

I'm going through the same thing right now. My manager has set a goal for me to be more involved in departmental strategy, so I'm hoping to get some coaching in that area. For me it means thinking about long-term, out-of-the-box goals and managing risk, although what that translates to in day-to-day activities is still unclear to me. Anyone else?

Submitted by Mark Horstman on Tuesday January 9th, 2007 7:20 pm

Read Michael Porter, and buy a couple of Havard Business Review books on strategy.

Then read Blue Ocean Strategy to REALLY help.

Mark

Submitted by Konstantin Tutunov on Wednesday January 10th, 2007 11:43 am

I think it is good to start with:
Strategy Safari - A Guided Tour Through The Wilds of Strategic Management
by
Henry Mintzberg, Bruce Ahlstrand, Joseph Lampel.

Submitted by Hugo Fernandes on Thursday January 11th, 2007 9:50 am

[quote="drinkcoffee"]I'm going through the same thing right now. My manager has set a goal for me to be more involved in departmental strategy, so I'm hoping to get some coaching in that area. For me it means thinking about long-term, out-of-the-box goals and managing risk, although what that translates to in day-to-day activities is still unclear to me. Anyone else?[/quote]

I'm thankful that I'm not going through this alone.

For me strategy is the method of achieving a goal.

Sort of:

Objective: What do I want?
Strategy: How will I get it?
Tactic: What are the specific parts of the strategy that need to get done to obtain the objective.

However, a lot of what I think are strategies people deem tactics. So I'm really struggling.

Thanks to mahorstman and tutunov for the suggestions.

Submitted by Brian Flynn on Friday January 12th, 2007 10:35 pm

Definately go for Porter. On one level, strategy is very simple. Basically, you determine your current situation, then determine the plan to improve your sitiation. That plan is your strategy.

Porter's tools can be used to understand the strengths and weaknesses of your organization (the +/- internally) and the opportunity and threats that exist outside your company (the +/- externally). In general, move to minimize your weaknesses, then use your strengths to exploit opportunities and minimize threats. Of course, this being business, your best strategic option is the one that maximizes value.

That is the basic way that I approach strategy - more than this is expanding on details. Hope you find it helpful.

Brian

Submitted by Hugo Fernandes on Friday January 19th, 2007 7:27 am

bflynn,

Thank you very much. That does help clarify things a lot.

I really appreciate it.

Submitted by Terrence Randell on Friday January 19th, 2007 4:13 pm

I can vouch for the HBSP books and articles. I find them very helpful.

Porter is next on my reading list, based on the raves here.