With a flurry of activity each day, we hope to accomplish the tasks that will enable us to reach our goals. Ideally, that flurry of activity is preceded and then interspersed with strategic thinking. Thinking strategically means carving out time to consider the current context, or situation we’re in, identifying insights that will lead to new value for customers and then executing on those initiatives to deliver value. However, a recent… READ MORE

In the constant battle to keep up with the competition, managers often react immediately to other’s tactics by rolling out similar tactics of their own. Instead of thinking strategically about their next moves, they abandon the plan and step up to the wheel to play another round of tactical roulette. Their aim is to reduce the perceived gap between what the competition is doing and what they are doing. Little do they realize that the gap is the… READ MORE

In business, we define profit as a financial benefit that is realized when the amount of revenue gained from a business activity exceeds the expenses. Do you live a profitable life? Or, are you putting in much more than you’re gaining? Too often, we spend countless hours in work or other activities and feel frustrated because we’re not getting much out of it. Take the quiz below to find out if you live strategically. 1.  Do you have a… READ MORE

Strategy for You… READ MORE

The beginning of the year is an opportune time to create a strategic plan for yourself. Yes, you. Will you spend the year bouncing around from one thing to the next like a bumper car at the carnival? Or, will you live this year with purpose, focus and clear intent on getting the most out of your work and your life. My research with more than 2,000 adults showed that less than 2 out of every 10 people have a plan for their life. I had the… READ MORE

New Year’s resolutions are set with good intent, but rarely achieved. Here are three things to avoid when working to accomplish your resolutions or goals for the new… READ MORE

Bad strategy beware: there’s a new superhero in town. Read the first three pages of the first ever business strategy comic book, “The Secret Powers of Strategyman.” To read the entire comic book and take the “Are You Strategic?” quiz, go to “Rich Horwath’s Files” and download “Strategyman Comic Book” at… READ MORE

In an attempt to piece together a fuller picture of strategic thinking, I’ve created the following infographic. It’s designed to highlight key research findings and examples related to strategic thinking, or in some cases, a lack thereof. The data sources outside of my research have been listed after the graphic for those interested in greater detail. (Click to enlarge) Embed this image on your site: <a… READ MORE

1. Does everyone in your company have the same definition of strategy? Yes | No 2. Do people understand the difference between goals, objectives, strategies and tactics? Yes | No 3. Have the different groups in the organization clearly defined their goals and shared them with others? Yes | No 4. Do you clearly communicate your product/service points of differentiation that customer’s value? Yes | No 5. Is your group performing… READ MORE

The term “best practice” is a misleading one. “Best” is too often perceived as a universal. The reality is that an organization’s success and/or failure is determined by a number of factors, including the current context, competitive landscape, customer value drivers, internal culture and so on. So when we use the concept of best practice to develop our strategy, we’re assuming all of the aforementioned factors will be the same as the… READ MORE