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Strategic Thinking for the Next Economy Paperback – May 24, 2001
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"…comprehensive and authoritative." (Journal of Operational Research Society, July 2007)
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Those (such as I) who subscribe to the MIT Sloan Management Review have perhaps already read many of these essays. How convenient to have a single volume in which they are gathered; also, to have such a well-written Introduction by the editors and then a section ("The Authors") which suggests additional resources to explore. (I consider Markides' All the Right Moves: A Guide to Crafting Breakthrough Strategy to be one of the most important business books written within recent years.Read more ›
a. Sharing information at must attend meetings is an essential part of building collective intuition. The interplay of ideas during these meetings enhances managers understanding of the data. Less successful top-management teams rarely meet with their colleagues in a group. These executives typically make fewer and larger strategic choices. When they do turn their attention to important decisions, they rely on market analyses and future trend projections that are idiosyncratic to the particular decision. Intuition is gained through experience, the ability to recognize pattern and process information in blocks. This Rapid pattern recognition is faster than processing single pieces of information.
b. Traditional approaches to strategy overemphasize the executives ability to analyze and predict which industries, competencies, or strategic positions will be viable and for how long. No advantage and no position is advantageous forever.
c. The ability to make fast, widely supported, and high quality strategic decisions on a frequent basis are the cornerstone of effective strategy.
2. Stimulate quick conflict to improve the quality of strategic thinking without sacrificing significant time.
a. In dynamic markets, conflict is a natural feature of high-stakes decision making because reasonable managers will often diverge in their views on how the marketplace will unfold. Strategic decision makers in rapidly changing markets not only tolerate conflict, they accelerate it.
b. One technique is scenario planning, creating advocate alternatives consider many future states. Remove stale thinking.
c.Read more ›