Synopsis

Every executive must at some point engage in strategic thinking. The good news is that most executives are rather well-versed with various strategic thinking frameworks and models. The bad news is, many executives (CEOs included) are simply not capable of coming up with really competitive strategies.

What contributes to this problem is usually not a lack of strategic thinking skill, intelligence, or creativity. It is not even a lack of competence in executing one’s strategy. Rather, the problem is a lack of awareness of the biases and errors that cloud and influence one’s thinking (according to many studies)—including those who are very well-versed in strategic thinking and planning. Simply, these executives lack the necessary “mind guards” to come up with competitive and effective strategies (Harvard study).

The objective of this course is therefore to help participants to understand the biases and errors that pervade strategic thinking. In this course, you will look at strategic thinking and business strategies from a macro view, through the perspectives of psychological and behavioral sciences. And you shall see, from bird’s eye view, how various companies rise and fall against the backdrop of market forces and economic players.

Course Objectives

• Looking at strategic thinking through psychological lens
• Know how to avoid common strategic thinking errors
• Learn how to adopt winning strategic thinking postures

 

Course Outline

• New paradigm of thought: Thinking differently for different results
• New approach to thinking: Behavioral science approach to business analysis
• Common reasoning errors: Implications for today’s managers
• Common strategic thinking biases and limitations
• In brief: Common strategic thinking templates (e.g., PEST; SWOT; 7P’s, etc)
• Critical Thinking: Applying critical thinking frameworks to enhance strategic thinking
• The area of competitive advantage that most executives tend to overlook
• Important lessons: Why and how companies fail?: Economic vs. mi
• Should we go for the “right” or the “good” strategy?
• How most executives choose their strategies: Common biases and errors
• Compare: Deliberate vs. emergent strategies (Harvard framework)
• Important: 5P-model as a new guide to effective strategic thinking (Yale University)
• Epilogue: the Golden Rules of effective strategic thinking
  

 

List of case studies: Coke vs. Pepsi; Nike vs. Adidas; Wal-Mart vs. K-Mart; Motorola Iridium; Wang Computers; Rubbermaid; and so on …