The document discusses various models and approaches to strategic planning. It notes that in the past, people made plans using rocks and tree limbs, but that over time printing, radio, TV and the internet provided new tools and approaches. In the present, it discusses characteristics of good strategic leaders, habits of strategic thinkers, and cognitive biases that can interfere with planning. It provides techniques like devil's advocacy and dialectic inquiry to improve decision making. The future section suggests planning consider trends, opportunities and challenges to develop strategies and plans.
This document discusses strategic planning and intuition. It provides an overview of different strategic planning models used in the past and present. It also discusses the importance of strategic intuition, which is described as a clear, slow thought that provides insights into new situations. The document notes that strategic intuition is different from ordinary intuition, which is a vague gut feeling, and expert intuition, which enables rapid judgment in familiar areas. It advises that strategic intuition is most needed in new situations and should not be ignored, as good ideas may be missed if there is a "not invented here" attitude.
Making Strategy Work for Entrepreneurssohailgondal
Challenge: Traditional strategic planning approach fails to handle the ambiguity, uncertainty and complexity prevailing in entrepreneurial environments. Consequently, these barriers become the reason for entrepreneurs to jettison robust strategic thinking or management
Way Forward: An effective strategic planning capability can do more than address the common and predictable issues that cause a new ventures demise. This paper defines an agile approach to strategy that balances the rigor and speed entrepreneurs need.
Innovative service companies today recognize that they can supercharge profits by acknowledging that different groups of customers vary widely in their behavior, desires, and responsiveness to marketing. Federal Express Corporation, for example, has revolutionized its marketing philosophy by categorizing its business customers internally as the good, the bad, and the ugly--based on their profitability. Rather than marketing to all customers in a similar manner, the company now puts its efforts into the good, tries to move the bad to the good, and discourages the ugly.(n1) Similarly, the customer service center at First Union, the sixth-largest bank in the U.S., codes customers by color squares on computer screens using a database technology known as "Einstein." Green customers are profitable and receive extra customer service support while red customers lose money for the bank and are not granted special privileges such as waivers for bounced checks. Providing different service to customers depending on their profitability is becoming an effective and profitable service strategy for firms like FedEx, U.S. West, First Union, Hallmark, GE Capital, Bank of America, and The Limited. These firms have discovered that they need not serve all customers equally well--many customers are too costly to do business with and have little potential to become profitable, even in the long term. While companies may want to treat all customers with superior service, they find it is neither practical nor profitable to meet (and certainly not to exceed) all customers' expectations. Further--and probably more objectionable to quality zealots--in most cases it is desirable for a firm to alienate or even "fire" at least some of its customers. While quality advocates may be offended by the notion of serving any customer in less than the best possible way, in many situations both the company and its customers obtain better value
The document summarizes an interview between Joan Magretta and Michael Porter about common strategy mistakes. Porter identifies some of the biggest mistakes as competing to be the best rather than being unique, confusing marketing with strategy, overestimating strengths, and not having a strategy at all. Porter explains that having a strategy is difficult and maintaining it over time is even harder due to internal biases, incentive structures, and pressure from external factors like analysts to pursue short-term goals.
Elevate - Three Disciplines of Strategic ThinkingAvirot Mitamura
Elevate - The Three Disciplines of Advanced Strategic Thinking.
Take-Aways
• Strategy is the astute allocation of resources – “time, talent and capital” – in planned
activities to serve customers better than your competitors do.
• Successful businesses are strategic. The right strategy is the best predictor of
profitability. Businesses fail because of bad strategy.
• Many firms treat strategy as perfunctory and occasional, instead of as crucial
and ongoing.
• Leaders often have no time to think, can’t prioritize and end up putting out fires instead
of strategizing long term. Stop and give strategy the time it warrants.
• Sound strategy calls for a big-picture, “elevated” understanding of your business.
• Strategic thinking has three elements: “acumen” for developing valuable insights,
“allocation” for using resources wisely, and “action” for executing strategic plans.
• “Differentiation,” not price-cutting, is the best route to business success.
• Strategy takes three disciplines: First, “coalesce” your best insights.
• Second, “compete” by making the right “trade-offs.” Third, “champion” your strategy.
• A great strategy may fail if your employees don’t understand or don’t rally behind it.
Managing an asset management business is unique. Not only is it a professional service business but extraordinary portfolio management and sales talent is critical to the business. Balancing the business and the profession is essential.
The document discusses how developing an M&A playbook can help HR and organizations successfully execute mergers and acquisitions. It notes that people integration issues are among the most significant challenges in M&As. An M&A playbook provides a standardized process and tools to guide HR's role at each stage of a deal. Following the playbook's practices can accelerate the integration process and closing of the deal by months, realizing cost savings and synergies sooner and meeting targets on schedule. The playbook helps ensure people issues receive the same priority as financial aspects in achieving the long-term benefits of the merger or acquisition.
Capital bias reducing human error in capital decision makingsodhi3
The US Navy improved its capital planning process to reduce biases by setting aggressive energy goals to source 50% of energy from alternatives by 2020. When field managers developed capital requests, the Navy Installations Command organized the process to align spending with these energy goals. Specifically, it established a scoring framework linking requests to specific, observable metrics related to the goals, providing consistency and minimizing biases compared to past practices that relied on tiers lacking specificity. This helped achieve a broader view aligning all requests with the Navy's requirements.
This document discusses strategic planning and intuition. It provides an overview of different strategic planning models used in the past and present. It also discusses the importance of strategic intuition, which is described as a clear, slow thought that provides insights into new situations. The document notes that strategic intuition is different from ordinary intuition, which is a vague gut feeling, and expert intuition, which enables rapid judgment in familiar areas. It advises that strategic intuition is most needed in new situations and should not be ignored, as good ideas may be missed if there is a "not invented here" attitude.
Making Strategy Work for Entrepreneurssohailgondal
Challenge: Traditional strategic planning approach fails to handle the ambiguity, uncertainty and complexity prevailing in entrepreneurial environments. Consequently, these barriers become the reason for entrepreneurs to jettison robust strategic thinking or management
Way Forward: An effective strategic planning capability can do more than address the common and predictable issues that cause a new ventures demise. This paper defines an agile approach to strategy that balances the rigor and speed entrepreneurs need.
Innovative service companies today recognize that they can supercharge profits by acknowledging that different groups of customers vary widely in their behavior, desires, and responsiveness to marketing. Federal Express Corporation, for example, has revolutionized its marketing philosophy by categorizing its business customers internally as the good, the bad, and the ugly--based on their profitability. Rather than marketing to all customers in a similar manner, the company now puts its efforts into the good, tries to move the bad to the good, and discourages the ugly.(n1) Similarly, the customer service center at First Union, the sixth-largest bank in the U.S., codes customers by color squares on computer screens using a database technology known as "Einstein." Green customers are profitable and receive extra customer service support while red customers lose money for the bank and are not granted special privileges such as waivers for bounced checks. Providing different service to customers depending on their profitability is becoming an effective and profitable service strategy for firms like FedEx, U.S. West, First Union, Hallmark, GE Capital, Bank of America, and The Limited. These firms have discovered that they need not serve all customers equally well--many customers are too costly to do business with and have little potential to become profitable, even in the long term. While companies may want to treat all customers with superior service, they find it is neither practical nor profitable to meet (and certainly not to exceed) all customers' expectations. Further--and probably more objectionable to quality zealots--in most cases it is desirable for a firm to alienate or even "fire" at least some of its customers. While quality advocates may be offended by the notion of serving any customer in less than the best possible way, in many situations both the company and its customers obtain better value
The document summarizes an interview between Joan Magretta and Michael Porter about common strategy mistakes. Porter identifies some of the biggest mistakes as competing to be the best rather than being unique, confusing marketing with strategy, overestimating strengths, and not having a strategy at all. Porter explains that having a strategy is difficult and maintaining it over time is even harder due to internal biases, incentive structures, and pressure from external factors like analysts to pursue short-term goals.
Elevate - Three Disciplines of Strategic ThinkingAvirot Mitamura
Elevate - The Three Disciplines of Advanced Strategic Thinking.
Take-Aways
• Strategy is the astute allocation of resources – “time, talent and capital” – in planned
activities to serve customers better than your competitors do.
• Successful businesses are strategic. The right strategy is the best predictor of
profitability. Businesses fail because of bad strategy.
• Many firms treat strategy as perfunctory and occasional, instead of as crucial
and ongoing.
• Leaders often have no time to think, can’t prioritize and end up putting out fires instead
of strategizing long term. Stop and give strategy the time it warrants.
• Sound strategy calls for a big-picture, “elevated” understanding of your business.
• Strategic thinking has three elements: “acumen” for developing valuable insights,
“allocation” for using resources wisely, and “action” for executing strategic plans.
• “Differentiation,” not price-cutting, is the best route to business success.
• Strategy takes three disciplines: First, “coalesce” your best insights.
• Second, “compete” by making the right “trade-offs.” Third, “champion” your strategy.
• A great strategy may fail if your employees don’t understand or don’t rally behind it.
Managing an asset management business is unique. Not only is it a professional service business but extraordinary portfolio management and sales talent is critical to the business. Balancing the business and the profession is essential.
The document discusses how developing an M&A playbook can help HR and organizations successfully execute mergers and acquisitions. It notes that people integration issues are among the most significant challenges in M&As. An M&A playbook provides a standardized process and tools to guide HR's role at each stage of a deal. Following the playbook's practices can accelerate the integration process and closing of the deal by months, realizing cost savings and synergies sooner and meeting targets on schedule. The playbook helps ensure people issues receive the same priority as financial aspects in achieving the long-term benefits of the merger or acquisition.
Capital bias reducing human error in capital decision makingsodhi3
The US Navy improved its capital planning process to reduce biases by setting aggressive energy goals to source 50% of energy from alternatives by 2020. When field managers developed capital requests, the Navy Installations Command organized the process to align spending with these energy goals. Specifically, it established a scoring framework linking requests to specific, observable metrics related to the goals, providing consistency and minimizing biases compared to past practices that relied on tiers lacking specificity. This helped achieve a broader view aligning all requests with the Navy's requirements.
Business strategy are business schools doing more harm through appealing pi...Subramanian Kooveli Madom
The article examines the pigeon holed approach to teaching business strategy adopted in business schools. The writer believes strategies are unique to individuals (leaders) and cannot be reduced to a mechanical output from a technique oriented view. Real strategies are best kept under wraps and what is revealed is the essentials needed for its operationalisation. A technique oriented approach tends to send out misplaced signals to the budding managers
Strategic thinking training course brisbane sydney melbourne perth adelaide c...James Smith
This document discusses strategic thinking skills. It defines strategic thinking as a deliberate thought process that examines factors that will affect long-term success or failure of a company. Strategic thinking requires analytical skills to analyze inputs, problem solving skills to address problems, and management/planning skills to implement solutions. It is important for organizations to engage in strategic thinking to anticipate changes, opportunities, and solve problems. The document outlines different types of strategic thinking skills and provides tips for improving strategic thinking abilities.
This document provides an overview of strategic management and strategy. It discusses what strategy is, including definitions from military and management perspectives. It describes strategy as a plan for obtaining goals and positioning an organization uniquely. The document outlines the key elements of the strategic management process, including environmental scanning, strategy formulation, implementation, and evaluation. It also discusses some common misconceptions about strategy, distinguishing it from operational excellence and planning. Later sections cover topics like scanning the external and internal environment, different types of business and corporate strategies, and implementing and evaluating strategy.
Get a jump on your competition by understanding the strategic marketing framework process and produce a Growth Playbook to keep your marketing effort on track. Download our whitepaper, Growing Strategically for all the details.
Win through talent in uncertain times shevelenkoAlex Shevelenko
This document provides 5 strategies for companies to manage talent effectively during uncertain economic times: 1) Rapidly align the workforce to new strategic goals. 2) Cut costs precisely by identifying low performers rather than across-the-board cuts. 3) Invest in core talent critical to the strategy. 4) Increase transparency and communication to build trust. 5) Compensate based on individual performance rather than equally. The strategies are aimed at motivating top talent, executing the strategy, and optimizing resources.
Simulations & Game Theory Tools For Cf Os V 9Jack Howe
Game theory and business simulations can be useful tools for mid-market CFOs to analyze strategies, uncover weaknesses in assumptions, and encourage strategic thinking. Simulations allow participants to experience the complex interactions between decisions and outcomes in a low-risk environment. Common applications include strategic planning sessions, M&A analysis, and process improvement initiatives.
social and ethical considerations in businessStacey Troup
Google provides $5 million in grants to racial justice organizations in 2016. This grant is part of Google's $100 million annual budget for charitable donations. While some may see the grant as too narrowly focused on black lives, the funding actually supports education programs in low-income neighborhoods for all races. Google considers social and ethical implications before donations and sees this grant as an opportunity to support underserved communities. Google applies corporate social responsibility through technology-focused donations aimed at long-term solutions to global issues.
1) The article argues that the common view that strategy and execution are distinct, with strategy being formulated at the top and then executed below, is flawed.
2) It critiques the metaphor of the human body that underlies this view, where the brain chooses strategy and the body executes it.
3) The article presents an alternative metaphor of a white-water river, where choices cascade from broad upstream choices made at the top to more specific downstream choices made throughout the organization. This empowers employees to make choices tailored to their situation.
This document discusses the value that consultants can provide to organizations through strategic consultation at various levels. It distinguishes between generalist consultants, who take an interdisciplinary approach and provide guidance across multiple areas, and specialist consultants, who focus on a specific field or area of expertise. The key benefits of generalist consultants highlighted are their ability to take a holistic view, provide objective feedback, and reduce the need for multiple specialist consultants. Both internal and external consultants each have advantages, with the optimal approach depending on an organization's unique needs and goals. Overall, the document argues that consultation can significantly increase an organization's ability to achieve its objectives in an effective and timely manner.
This document discusses 10 common mistakes made by company boards that reduce their effectiveness and hinder company success. It summarizes each mistake with an example. The top mistakes include complacency and lack of timely decisive action, strategic market positioning being misaligned, lacking a highly defined business model, low reliance on processes and measurements, excessive focus on revenue generation without retention metrics, exiting for the wrong reasons or wrong time, board membership being misaligned to situational requirements, lack of leadership by the board members, micromanagement, and inadequate succession planning. The document provides guidance on how boards can avoid these mistakes to maximize shareholder value.
The document provides advice on both success and failure in organization design.
For success, it recommends focusing first on long-term strategic aspirations rather than immediate problems. It also advises taking time to accurately survey the current organizational state and being structured in selecting the right new design based on criteria linked to strategy.
For failure, it lists factors such as a lack of a clear case for change, lack of senior team alignment behind the redesign, leaders abdicating responsibility for driving the process, insufficient focus on co-creating the new design with employees, communicating the changes without real engagement, and inadequate focus on shaping the necessary culture change.
The document discusses contingency planning processes for trading firms based on an interview with Eric Aldous from RBC. It finds that trading teams have analysts who determine trades but also have contingency plans in place for every trade. Critical thinking and predefined contingency plans are needed to map out a range of outcomes and courses of action for every trade. Key steps that may require contingency planning for financial investments include reviewing investments, deciding how much to invest, and when to redeem investments. Contingency planning and critical thinking should be part of every business and personal decision.
I base this presentation on the work of Ram Charan, whom I admire as a business leader and specialist practitioner.
I also include many of my own experiences and insights into Organisational Development, Growth and Long Term Sustainability
Caryn Walsh
Small Business Decision Analysis: A View from the TrenchesRobert Brown
Dr. Bush and I describe our experience applying the principles of decision analysis to small business, which typically do not have access to as many informed resources as larger organizations where decision analysis is more routinely applied.
Published in "Decision Analysis Today," newsletter of the INFORMS Decision Analysis Society, Volume 29, No. 1, April 2010, pg. 16.
[Whitepaper] Building Blocks of Behavioral Strategy: How to De-Bias Your Deci...Flevy.com Best Practices
The document discusses cognitive biases that can negatively impact strategic decision making. It explains that biases are human tendencies that cause irrational deviations from rational decisions. There are two main categories of biases - emotional biases caused by feelings and cognitive biases caused by incomplete information or inability to analyze data properly. The document identifies 9 common cognitive biases, provides examples of each, and suggests that understanding and managing biases can lead to more logical decisions. It also presents 5 "building blocks of behavioral strategy" that can help decision makers recognize and counteract biases.
This document discusses the importance of strategic conversations in organizational success. It identifies 28 different strategic conversations that organizations may have, each with the potential for positive or negative outcomes depending on how the conversation is managed. The conversations discussed cover a wide range of strategic topics that organizations face including innovation, growth, change management, customer focus, and internal operations. Productive strategic conversations require understanding different perspectives, authentic discussion of issues, civility, efficiency, connecting strategy to implementation, and being iterative to adapt to changing realities.
The document outlines 6 habits of true strategic thinkers for business leaders. These habits are: 1) anticipating by looking beyond what's directly ahead to detect ambiguous signals, 2) thinking critically by questioning assumptions and biases, 3) interpreting by seeking patterns from multiple sources before developing a viewpoint, 4) deciding by balancing speed, rigor and quality to arrive at a good enough position, 5) aligning by understanding different agendas and building necessary support, and 6) learning by encouraging honest feedback and debriefs to extract lessons from both successes and failures. Mastering these six habits helps leaders thrive in an uncertain environment by taking a strategic approach.
This document discusses strategic thinking, including its definition as a mental process that synthesizes psychological and material data to assess and create the future. It outlines the objectives, elements, benefits, phases and components of strategic thinking. Specifically, it explains that strategic thinking has three phases - understanding the current situation, envisioning the desired future situation, and determining how to get there. It also discusses why strategic thinking is important for business success by enabling effective resource use, preparing for a changing environment, matching competitors' strengths, supporting growth, and improving decision making. The document distinguishes strategic thinking from strategic planning.
Data Leadership talk for CIIA March 2022.pdfPaul Laughlin
Slides presented to the Chartered Institute of Internal Auditors on the challenge of being a data leader & the skills needed for such leaders (and their teams) to succeed.
You can read more about this event here:
The document discusses strategic planning and implementation. It provides elements of strategic planning including defining the present situation, desired future, goals, and strategy. It emphasizes that strategic planning should be future focused, leadership driven, allow for organizational involvement, and create measurable objectives. It also discusses the importance of effective implementation, overcoming barriers, and mitigating risks to ensure the strategy is executed as intended.
Business strategy are business schools doing more harm through appealing pi...Subramanian Kooveli Madom
The article examines the pigeon holed approach to teaching business strategy adopted in business schools. The writer believes strategies are unique to individuals (leaders) and cannot be reduced to a mechanical output from a technique oriented view. Real strategies are best kept under wraps and what is revealed is the essentials needed for its operationalisation. A technique oriented approach tends to send out misplaced signals to the budding managers
Strategic thinking training course brisbane sydney melbourne perth adelaide c...James Smith
This document discusses strategic thinking skills. It defines strategic thinking as a deliberate thought process that examines factors that will affect long-term success or failure of a company. Strategic thinking requires analytical skills to analyze inputs, problem solving skills to address problems, and management/planning skills to implement solutions. It is important for organizations to engage in strategic thinking to anticipate changes, opportunities, and solve problems. The document outlines different types of strategic thinking skills and provides tips for improving strategic thinking abilities.
This document provides an overview of strategic management and strategy. It discusses what strategy is, including definitions from military and management perspectives. It describes strategy as a plan for obtaining goals and positioning an organization uniquely. The document outlines the key elements of the strategic management process, including environmental scanning, strategy formulation, implementation, and evaluation. It also discusses some common misconceptions about strategy, distinguishing it from operational excellence and planning. Later sections cover topics like scanning the external and internal environment, different types of business and corporate strategies, and implementing and evaluating strategy.
Get a jump on your competition by understanding the strategic marketing framework process and produce a Growth Playbook to keep your marketing effort on track. Download our whitepaper, Growing Strategically for all the details.
Win through talent in uncertain times shevelenkoAlex Shevelenko
This document provides 5 strategies for companies to manage talent effectively during uncertain economic times: 1) Rapidly align the workforce to new strategic goals. 2) Cut costs precisely by identifying low performers rather than across-the-board cuts. 3) Invest in core talent critical to the strategy. 4) Increase transparency and communication to build trust. 5) Compensate based on individual performance rather than equally. The strategies are aimed at motivating top talent, executing the strategy, and optimizing resources.
Simulations & Game Theory Tools For Cf Os V 9Jack Howe
Game theory and business simulations can be useful tools for mid-market CFOs to analyze strategies, uncover weaknesses in assumptions, and encourage strategic thinking. Simulations allow participants to experience the complex interactions between decisions and outcomes in a low-risk environment. Common applications include strategic planning sessions, M&A analysis, and process improvement initiatives.
social and ethical considerations in businessStacey Troup
Google provides $5 million in grants to racial justice organizations in 2016. This grant is part of Google's $100 million annual budget for charitable donations. While some may see the grant as too narrowly focused on black lives, the funding actually supports education programs in low-income neighborhoods for all races. Google considers social and ethical implications before donations and sees this grant as an opportunity to support underserved communities. Google applies corporate social responsibility through technology-focused donations aimed at long-term solutions to global issues.
1) The article argues that the common view that strategy and execution are distinct, with strategy being formulated at the top and then executed below, is flawed.
2) It critiques the metaphor of the human body that underlies this view, where the brain chooses strategy and the body executes it.
3) The article presents an alternative metaphor of a white-water river, where choices cascade from broad upstream choices made at the top to more specific downstream choices made throughout the organization. This empowers employees to make choices tailored to their situation.
This document discusses the value that consultants can provide to organizations through strategic consultation at various levels. It distinguishes between generalist consultants, who take an interdisciplinary approach and provide guidance across multiple areas, and specialist consultants, who focus on a specific field or area of expertise. The key benefits of generalist consultants highlighted are their ability to take a holistic view, provide objective feedback, and reduce the need for multiple specialist consultants. Both internal and external consultants each have advantages, with the optimal approach depending on an organization's unique needs and goals. Overall, the document argues that consultation can significantly increase an organization's ability to achieve its objectives in an effective and timely manner.
This document discusses 10 common mistakes made by company boards that reduce their effectiveness and hinder company success. It summarizes each mistake with an example. The top mistakes include complacency and lack of timely decisive action, strategic market positioning being misaligned, lacking a highly defined business model, low reliance on processes and measurements, excessive focus on revenue generation without retention metrics, exiting for the wrong reasons or wrong time, board membership being misaligned to situational requirements, lack of leadership by the board members, micromanagement, and inadequate succession planning. The document provides guidance on how boards can avoid these mistakes to maximize shareholder value.
The document provides advice on both success and failure in organization design.
For success, it recommends focusing first on long-term strategic aspirations rather than immediate problems. It also advises taking time to accurately survey the current organizational state and being structured in selecting the right new design based on criteria linked to strategy.
For failure, it lists factors such as a lack of a clear case for change, lack of senior team alignment behind the redesign, leaders abdicating responsibility for driving the process, insufficient focus on co-creating the new design with employees, communicating the changes without real engagement, and inadequate focus on shaping the necessary culture change.
The document discusses contingency planning processes for trading firms based on an interview with Eric Aldous from RBC. It finds that trading teams have analysts who determine trades but also have contingency plans in place for every trade. Critical thinking and predefined contingency plans are needed to map out a range of outcomes and courses of action for every trade. Key steps that may require contingency planning for financial investments include reviewing investments, deciding how much to invest, and when to redeem investments. Contingency planning and critical thinking should be part of every business and personal decision.
I base this presentation on the work of Ram Charan, whom I admire as a business leader and specialist practitioner.
I also include many of my own experiences and insights into Organisational Development, Growth and Long Term Sustainability
Caryn Walsh
Small Business Decision Analysis: A View from the TrenchesRobert Brown
Dr. Bush and I describe our experience applying the principles of decision analysis to small business, which typically do not have access to as many informed resources as larger organizations where decision analysis is more routinely applied.
Published in "Decision Analysis Today," newsletter of the INFORMS Decision Analysis Society, Volume 29, No. 1, April 2010, pg. 16.
[Whitepaper] Building Blocks of Behavioral Strategy: How to De-Bias Your Deci...Flevy.com Best Practices
The document discusses cognitive biases that can negatively impact strategic decision making. It explains that biases are human tendencies that cause irrational deviations from rational decisions. There are two main categories of biases - emotional biases caused by feelings and cognitive biases caused by incomplete information or inability to analyze data properly. The document identifies 9 common cognitive biases, provides examples of each, and suggests that understanding and managing biases can lead to more logical decisions. It also presents 5 "building blocks of behavioral strategy" that can help decision makers recognize and counteract biases.
This document discusses the importance of strategic conversations in organizational success. It identifies 28 different strategic conversations that organizations may have, each with the potential for positive or negative outcomes depending on how the conversation is managed. The conversations discussed cover a wide range of strategic topics that organizations face including innovation, growth, change management, customer focus, and internal operations. Productive strategic conversations require understanding different perspectives, authentic discussion of issues, civility, efficiency, connecting strategy to implementation, and being iterative to adapt to changing realities.
The document outlines 6 habits of true strategic thinkers for business leaders. These habits are: 1) anticipating by looking beyond what's directly ahead to detect ambiguous signals, 2) thinking critically by questioning assumptions and biases, 3) interpreting by seeking patterns from multiple sources before developing a viewpoint, 4) deciding by balancing speed, rigor and quality to arrive at a good enough position, 5) aligning by understanding different agendas and building necessary support, and 6) learning by encouraging honest feedback and debriefs to extract lessons from both successes and failures. Mastering these six habits helps leaders thrive in an uncertain environment by taking a strategic approach.
This document discusses strategic thinking, including its definition as a mental process that synthesizes psychological and material data to assess and create the future. It outlines the objectives, elements, benefits, phases and components of strategic thinking. Specifically, it explains that strategic thinking has three phases - understanding the current situation, envisioning the desired future situation, and determining how to get there. It also discusses why strategic thinking is important for business success by enabling effective resource use, preparing for a changing environment, matching competitors' strengths, supporting growth, and improving decision making. The document distinguishes strategic thinking from strategic planning.
Data Leadership talk for CIIA March 2022.pdfPaul Laughlin
Slides presented to the Chartered Institute of Internal Auditors on the challenge of being a data leader & the skills needed for such leaders (and their teams) to succeed.
You can read more about this event here:
The document discusses strategic planning and implementation. It provides elements of strategic planning including defining the present situation, desired future, goals, and strategy. It emphasizes that strategic planning should be future focused, leadership driven, allow for organizational involvement, and create measurable objectives. It also discusses the importance of effective implementation, overcoming barriers, and mitigating risks to ensure the strategy is executed as intended.
Strategic leadership requires anticipating an organization's future needs by engaging in high-level cognitive thinking. Leaders gather input from various stakeholders and conduct analyses to understand internal strengths and weaknesses as well as external opportunities and threats. They aim to create revolutionary strategies and manage knowledge to help the organization adapt through learning. Strategic leaders think both short-term and long-term to promote competitive advantage and ensure enduring success.
This document provides an overview of scenario analysis as a strategic planning method. Scenario analysis involves developing multiple potential scenarios for how the future may unfold based on trends and uncertainties. It is meant to help companies explore different possible futures rather than anchoring to a single view. The method involves defining the scope, identifying stakeholders and trends, uncertainties, and scenario themes. Scenarios typically include an end state, story, driving forces, and logics. Developing multiple plausible scenarios can help organizations better prepare for an uncertain future and adapt more quickly.
10 Questions to Ask at Your Next Board MeetingRoger Branch
This document provides 10 questions for company boards to focus on at meetings to drive strategic discussion and long-term performance. The questions are divided into 3 governance questions regarding key metrics, risk management, and board composition, and 7 strategic questions focused on market changes, growth plans, evaluating proposals, and balancing mission with sustainability. Addressing these questions is meant to help boards focus on strategic issues rather than getting bogged down in procedural activities.
3 blind spots, bias & bravado – a toxic combinationmikegggg
This document discusses the importance of developing coherent, effective strategic plans and overcoming common pitfalls that lead to bad strategy. It notes that many organizations confuse bold ambitions with good strategy and fail to address their core challenges. The document advocates for strategic honesty, candor, and focus to identify an organization's most pressing problems and applying maximum effort to solving them. This involves acknowledging weaknesses, vigorous debate, and making tough strategic choices instead of trying to mitigate all risks.
Entrepreneurship is as hard as it can be rewarding. Entrepreneurs make personal, professional and financial sacrifices knowing the cards are stacked against them. So what separates the failed entrepreneur from the successful?
The document discusses strategic planning and execution in libraries. It begins by introducing the guest speaker, Stephen Abram, and his expertise in strategic planning, product development, technology, and training/marketing. The goals of the talk are then outlined, including gaining clarity on strategic challenges, identifying hidden barriers to execution, building actionable plans, and understanding psychological dynamics. Key elements of launching tasks are presented, such as having an idea, clarifying expectations, and allocating resources. Strategies for overcoming common barriers to execution are explored, such as prioritizing thinking time, setting priorities to avoid analysis paralysis, and building relationships/trust to gain stakeholder agreement. Overall strategies and frameworks for strategic planning, communication, and monitoring performance are summarized
[Whitepaper] The Definitive Guide to Strategic Planning: Here’s What You Need...Flevy.com Best Practices
More Information:
https://flevy.com/browse/flevypro/best-practices-in-strategic-planning-2738
For many organizations, this is the time of the year is when Leadership will conduct the annual Strategic Planning process and plan the near-, mid- and long-term strategies.
This article breaks the full Strategic Planning and Execution processes into 3 sections:
Strategic Planning
Strategy Development
Strategy Execution
For each section, we will highlight important concepts core to the topic, as well as direct you to important resources for further understanding.
1. Strategic Planning
Per Wikipedia, we can define Strategic Planning as:
Strategic Planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy. Strategic Planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes.
Strategic Planning is a crucial process, but often poorly executed, leading to poor translation from Strategy to Execution.
In most organizations, executives complain that their Strategic Planning is overly bureaucratic, insufficiently insightful, and doesn’t accommodate today’s rapidly changing, digital markets. To combat these issues, there are a few best practices we should follow:
Explore Strategy across 3 time horizons.
Encourage productive and stimulating Strategic Dialogue.
Engage a broad, decentralized group of stakeholders.
Let’s dive a little deeper into each of these best practices.
Explore
The 3 time horizons we want to explore can be defined as short term (1-year timeframe), medium term (3–5 years timeframe), and long term (5+ years). Each horizon is uniquely considered and has different objectives.
More Information:
https://flevy.com/browse/flevypro/strategy-classics-value-disciplines-model-5138
According to Treacy and Wiersema, organizations need to make tough strategic choices in order to become market leaders. Market leaders choose to excel in delivering extraordinarily levels of one particular value to their customers. This way they can remain focused and become the absolute best in a certain value proposition.
Gaining market and Operational Excellence requires that the company's entire Operating Model be adapted in a way this it is aligned with the chosen Value Discipline. A Value Discipline is a unique value that organizations can deliver to a chosen market. The Value Discipline Principle is in line with Porter's Generic Strategies, where Michael Porter describes how companies gain Competitive Advantage by either focusing on low cost, differentiation, or a niche market.
This presentation discusses the Value Disciplines Model and the 3 Value Disciplines organizations must choose from.
1. Operational Excellence
2. Product Leadership
3. Customer Intimacy
If your company has not reached yet any of the Value Disciplines, don't wait longer.
Capital biasReducing human error in capital decision-makingTawnaDelatorrejs
Capital bias
Reducing human error in capital decision-making
A report by the
Center for Integrated Research
Deloitte’s Capital Efficiency practice helps organizations make better and faster decisions by
assisting them in improving the quality of their capital allocation decisions to enhance robustness,
efficiency, and return on investment.
Capital bias
The balancing act | 2
Choreographing the optimism bias, expert bias,
and narrow framing | 3
Mitigating biases in planning: The US Navy | 7
Prioritization: Leveling the playing field | 9
Stripping away your own organization’s biases | 11
Endnotes | 12
CONTENTS
Reducing human error in capital decision-making
1
A look at the S&P 500 suggests just how dif-ficult it can be to consistently drive positive results. Take one measure, return on in-
vested capital (ROIC). In a Deloitte study, neither
the amount of capital expenditures (as a percentage
of revenue) nor the growth in capital expenditure
demonstrated any kind of meaningful correlation
with ROIC.1 Regardless of industry, individual com-
panies can often have a difficult time maintaining
high and steady returns on their investments year
over year.
Given such uncertainty in capital allocation re-
sults, it may not be surprising that more than 60
percent of finance executives say they are not con-
fident in their organization’s ability to optimally al-
locate capital.2 After all, many companies are bal-
ancing competing priorities, diverse stakeholder
interests, and a complex variety of proposals that
can make capital allocation decisions even more dif-
ficult to execute in practice.
Why is this? On paper it seems practical enough
for everyone throughout the organization to be on
the same page. In an ideal world, a company estab-
lishes the goals and priorities; then, from senior
managers to frontline employees, everyone is ex-
pected to act in a manner that supports these man-
dates.
However, behavioral science, and possibly your
own experience, suggest it’s likely not always that
simple. Individuals at any level of an organization
may be overly optimistic about certain courses of
action, rely too much on specific pieces of informa-
tion (and people), or simply interpret the objective
through too narrow a lens (that may even run coun-
ter to other views on how to achieve these goals).
Within the behavioral science field, these are
referred to as cognitive biases and they exist in
many endeavors, not just capital planning. These
same biases can explain why we are too optimistic
about our retirement portfolios, can rely solely on
the opinions of experts in matters of health, and
narrowly frame our car buying decisions based on
a single attribute, such as fuel efficiency—ignoring
safety features, price, and aesthetic design. In the
language of the behavioral sciences, these translate
into the optimism bias, expert bias, and narrow
framing, respectively.
Though these biases, an ...
Having a strategic plan is crucial for business success. Strategic plans allow businesses to anticipate changes, adjust tactics, and ensure they are reaching goals. The best performing companies actively use and update strategic plans as part of regular business operations. Outsiders now view strategic plans as one of the most important factors in evaluating a business's risk level and management capabilities. Developing a strategic plan helps businesses strengthen operations and allows employees to better understand and contribute to the company's objectives.
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A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
How to Fix the Import Error in the Odoo 17Celine George
An import error occurs when a program fails to import a module or library, disrupting its execution. In languages like Python, this issue arises when the specified module cannot be found or accessed, hindering the program's functionality. Resolving import errors is crucial for maintaining smooth software operation and uninterrupted development processes.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Strategies for Effective Upskilling is a presentation by Chinwendu Peace in a Your Skill Boost Masterclass organisation by the Excellence Foundation for South Sudan on 08th and 09th June 2024 from 1 PM to 3 PM on each day.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
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THETHE
PASTPAST
In the past, man made plans
out of rocks and tree limbs.
But in time they found
themselves out on a limb with
heavy rocks.
Then came the printing press
followed by Radio and TV
And then there was very new
TV called Internet.
Finally, there was a Great
Light! And the client cried out:
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What Do We Need to Succeed in theWhat Do We Need to Succeed in the
PresentPresent
7 Characteristics of Good Strategic7 Characteristics of Good Strategic
LeadersLeaders
6 Habits of Strategic Thinkers6 Habits of Strategic Thinkers
5 Cognitive Biases To Avoid5 Cognitive Biases To Avoid
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Cognitive Biases that Get in the WayCognitive Biases that Get in the WayCognitive Biases that Get in the WayCognitive Biases that Get in the Way
The rationality of decision-making is bound by
one’s cognitive capabilities.
When managers make decisions in uncertain situations, they
tend to fall back on certain rules of thumb – Heuristics.
Sometimes these rules lead to severe errors, called
cognitive biases.
Kahneman* encourages a better understanding of these
heuristics and the biases to which they lead.
* He published his main finding in a 1982 book, Judgment Under Uncertainty, Heuristics and Biases
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Cognitive Biases that Get in the WayCognitive Biases that Get in the WayCognitive Biases that Get in the WayCognitive Biases that Get in the Way
Escalating commitment occurs when decision makers,
having committed significant resources to a project,
commit even more despite feedback that tells them the
project is failing.
The use of simple analogies to make sense out of a
complex problem is called reasoning analogy, which
may be flawed by invalid reasoning.
Generalizing from a small sample or a single vivid
anecdote is called representativeness.
The illusion of control is the tendency to overestimate
one’s ability to control events.
Prior hypothesis bias refers to making decisions
based on a belief, even when evidence proves that the
belief is incorrect.
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2 Techniques for Improving Decision Making2 Techniques for Improving Decision Making2 Techniques for Improving Decision Making2 Techniques for Improving Decision Making
Devil’s advocacy requires the generation of a
plan, as well as a critical analysiscritical analysis of that plan.
Dialectic inquiry requires the generation of a
plan and a counter-plan that reflects plausible
but conflicting courses of action.
Strategic managers listen to a debate between
advocates of the plan and counter-plan and then
decide which will lead to higher performance.
This approach may reveal problems with
definitions, recommended courses of action, and
assumptions of both plans.
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1) Vision, Eloquence, and Consistency
a) A strong leader gives an organization a sense of direction.
b) Examples: Winston Churchill, Martin Luther King, Sam Walton
2) Articulation of a Business Model
a) Knowing how the various strategies that the company pursues
fit together.
b) Examples: Michael Dell (Dell, Inc.), Steve Jobs (Apple)
7 Characteristics of Good Strategic Leaders7 Characteristics of Good Strategic Leaders
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3) Commitment
a) A strong leader demonstrates his or her commitment to a
vision and business model with action and words.
b) Example: Jack Welch (General Electric)
3) Being Well Informed
a) Effective leaders develop a network of formal and informal
sources who to keep them well informed about what is going
on within their company.
b) Example: Jim Donald (Starbucks)
7 Characteristics of Good Strategic Leaders7 Characteristics of Good Strategic Leaders
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5) Willingness to Delegate and Empower
a) Avoids being overloaded with responsibilities.
b) Understands that delegation is a good motivational tool.
5) The Astute Use of Power
a) Power comes from control over resources that are important
to the organization: budgets, capital, positions, information,
and knowledge.
b) Politically astute managers use these resources to critically
place allies who can help them attain their strategic
objectives.
7 Characteristics of Good Strategic Leaders7 Characteristics of Good Strategic Leaders
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7) Emotional Intelligence
a) Self-awareness — the ability to understand one’s own
moods, emotions, and drives.
b) Self-regulation — the ability to control or redirect disruptive
impulses or moods.
c) Motivation — a passion for work that goes beyond money or
status.
d) Empathy — the ability to understand the feelings and
viewpoints of peers and subordinates.
e) Social skills — friendliness with a purpose.
7 Characteristics of Good Strategic Leaders7 Characteristics of Good Strategic Leaders
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6 Habits of Strategic Thinkers
1. Anticipate
When most of the focus is
on what’s directly ahead
periphal vision is
deminished.
Lack of “peripheral vision”
can leave your clients
vulnerable to rivals who
detect and act on
ambiguous signals.
To anticipate well, you must:
Look for game-changing
information at the periphery
of the client’s industry
Search beyond the current
boundaries of their business
Build wide external networks
to help you scan the horizon
better
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6 Habits of Strategic Thinkers
2. Think Critically
Stickng close to “conventional
wisdom” opens you up to fewer
raised eyebrows and second
guessing.
But if you swallow every
management fad, herdlike
belief, and safe opinion at face
value, your client loses all
competitive advantage.
Critical thinkers question
everything.
To master this skill you must
force yourself to:
Reframe problems to get to the
bottom of things, in terms of root
causes
Challenge current beliefs and
mindsets, including your own
Uncover hypocrisy, manipulation,
and bias in organizational
decisions
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6 Habits of Strategic Thinkers
3. Learn
As your business grows,
honest feedback is harder and
harder to come by. You have
to do what you can to keep it
coming.
This is crucial because success
and especially failure are
valuable sources of
organizational learning.
Here's what you need to do:
Encourage and exemplify honest,
rigorous debriefs to extract
lessons
Shift course quickly if you realize
you're off track
Celebrate both success and (well-
intentioned) failures that provide
insight
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6 Habits of Strategic Thinkers
4. Interpret
Ambiguity is unsettling.
Faced with ambiguity, the
temptation is to reach for a fast
(and potentially wrongheaded)
solution.
A good strategic leader holds
steady, synthesizing information
from many sources before
developing a viewpoint.
To get good at this, you have
to:
Seek patterns in multiple sources
of data
Encourage others to do the same
Question prevailing assumptions
and test multiple hypotheses
simultaneously
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6 Habits of Strategic Thinkers
5. Align
Total consensus is rare.
A strategic leader must
a) foster open dialogue
b) build trust
c) and engage key stakeholders
Especially when views diverge.
To pull that off, you need to:
Understand what drives other
people's agendas, including what
remains hidden
Bring tough issues to the surface,
even when it's uncomfortable
Assess risk tolerance and follow
through to build the necessary
support
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6 Habits of Strategic Thinkers
6. Decide
Many leaders fall prey to “analysis
paralysis.”
You have to develop processes and
enforce them, so that you arrive at
a “good enough” position.
To do that well, you have to:
Carefully frame the decision to get
to the crux of the matter
Balance speed, rigor, quality and
agility. Leave perfection to higher
powers
Take a stand even with incomplete
information and amid diverse views
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When do you get your best
ideas?
Some of you might answer:
“when I least expect it.”
I get a flash of insight.
Things come together in my mind.
I connect the dots.
I say: "Aha! I see what to do."
This is a special
form of intuition
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3 Kinds of Strategic Ideas Apply to
Human Achievement
Strategic analysis, where you study the situation
you face.
Strategic intuition, where you know what to do.
Strategic planning, where you work out the details
of how to do it.
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Strategic Intuition
To succeed in the modern
world you need:
creative thinking, or
entrepreneurial thinking, or
innovative thinking, or
strategic thinking
These happen through flashes
of insight called
Strategic Intuition
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Ordinary Intuition
Ordinary intuitionintuition
is just a feeling – ais just a feeling – a
gut instinct.gut instinct.
Haragei 腹に腹
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Expert Intuition
Expert intuition is aintuition is a
snap judgment whensnap judgment when
you instantly recognizeyou instantly recognize
something familiar.something familiar.
Similar to “Japanese telepathy”
called ishin denshin 腹を割って通
信
Such as the way a basketball
player knows where the ball will
go from the arc and speed of the
opponent's throw.
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A Clear, Slow Thought
Strategic intuition (kongen)
is not a vague feeling, like
ordinary intuition.
Strategic intuition is a clear
thought.
And it's not fast, like expert
intuition.
It's slow..
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Brain Science
Strategic Intuition …
It doesn't happen in
familiar situations,
like a basketball
game.
Strategic intuition
works in new
situations.
That's when you
need it most.
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When Strategic Intuition is
Ignored
Google offered to sell
their patent to
AltaVista.
The people who ran
AltaVista were not
receptive to outside
technology.
They had a “not
invented here”
attitude.
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When Strategic Intuition is
Followed
Strategic Intuition is the
opposite of “not invented
here”,
It is the attitude of:
“take from everywhere”.
Is this the future of business?
Fisker Automotive, Inc., 5515 E. La Palma, Anaheim, CA 92807 - USA 714-888-4255
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Over the past ten years,Over the past ten years, William Duggan conducted pioneering research on strategicconducted pioneering research on strategic
intuition and for the past three years has taught a popular course atintuition and for the past three years has taught a popular course at Columbia
Business School on the subject.
He now gives us this eye-opening book that shows howHe now gives us this eye-opening book that shows how strategic intuition lies at thelies at the
heart of great achievements throughout human history:heart of great achievements throughout human history: [click to order][click to order]
•the scientific and computer revolutions,the scientific and computer revolutions,
•women's suffrage,women's suffrage,
•the civil rights movement,the civil rights movement,
•modern art,modern art,
•microfinance in poor countries.microfinance in poor countries.
Considering the achievements of people and organizations, from Bill Gates to Google,Considering the achievements of people and organizations, from Bill Gates to Google,
Copernicus to Martin Luther King, Picasso to Patton, you'll never think the same wayCopernicus to Martin Luther King, Picasso to Patton, you'll never think the same way
about strategy again.about strategy again.
This new book by William Duggan is the first full treatment of strategic intuition. It'sThis new book by William Duggan is the first full treatment of strategic intuition. It's
the missing piece of the strategy puzzle that makes essential reading for anyonethe missing piece of the strategy puzzle that makes essential reading for anyone
interested in achieving more in any field of human endeavor.interested in achieving more in any field of human endeavor.
ACKNOWLEDGEMENTACKNOWLEDGEMENT
58. Here’s short film made
using the intuitive approach
“take from everywhere”
(click – looks good on the full screen)
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THANK
YOU
Robert J. Mancuso
MARKETING +
PARTNERS
NEWPORT BEACH,
CALIFORNIA
92660
(949) 706-0806
Robert J. MancusoRobert J. Mancuso
MARKETING +MARKETING +
PARTNERSPARTNERS
NEWPORT BEACH,NEWPORT BEACH,
CALIFORNIA 92660CALIFORNIA 92660
(949) 706-0806(949) 706-0806
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Strategic Planning
Tough Stuff Made Easy:Tough Stuff Made Easy:
““Find a Dharma that Works for the Karma You Face”Find a Dharma that Works for the Karma You Face”