We can’t solve problems using the same kind of thinking we used when we created them: Albert Einstein
In 2015, PricewaterhouseCoopers (PwC) conducted a study of 6,000 senior executives, using a method of research developed by William Torbert of Boston University and David Rooke of Harthill Consulting. Executives were asked open-ended questions and their responses were analysed to determine what type of leaders were most prominent. The analysis found that ‘only eight per cent emerged as strategic thinkers and leaders’.
But many leaders are working to increase this percentage. For instance, Indira Nooyi, CEO of PepsiCo, believes in giving her team the leadership charge of key impactful projects. She ensures that the team goes through a variety of real-time learning experiences, which leads to phenomenal visibility and strategic idea generation.
Steve Jobs – the late leader of Apple, gave clear objectives to his leaders and made them think about the future yet being focused in the “here and now moment”.
In today’s volatile and ambiguous world, it is important for leaders to think and lead strategically. Here are some key quotients that will help:
~ SBQ: Strategic Big Picture Quotient
It is important for leaders to understand the organisation’s big picture. The leader can apply the 5W and 1H methodology and ask key questions to align with the organisation’s big picture:
Why does the organisation exist?
What do we want to achieve?
Who are our competitors?
Where do we want to be five years later?
When do we make profits?
How do we connect with our stakeholders?
This kind of clarity helps leaders think strategically and take futuristic decisions.
~ SNQ: Strategic Network Quotient
There’s a saying that goes: ‘Network is your net worth’. Leaders need to build a network internally, within the organisation, as well as externally, with stakeholders. The latter network will open up opportunities for leaders to understand current technologies and trends in the industry. It will also help them learn about what is new in the market. Networking has to be one of the core strengths, in order for one to be strategic.
~ STQ: Strategic Time Quotient
Leader must devote time for strategic thinking. The demand of daily tasks and routine may pull them away, but it is important to allocate time to read the market, build their knowledge, and focus on activities that will affect organisations, internally and externally. Every leader has 24 hours — how they utilise it makes all the difference.
~ SCQ: Strategic Change Quotient
The era today is one of disruptive changes that affect industries. To minimise this, leaders need to be vigilant in anticipating these changes.
There are many examples of leaders who did not anticipate or embrace the change, and the organisation faced the consequences — for example, Kodak and HMT.
In contrast, leaders of organisations such as Google, Apple, and Tesla are thriving, riding the change, continuously anticipating and embracing the disruptive changes. They are willing to analyse, take risks and connect with the latest global trends. To build a strategic future, leaders need to become positive change agents.
~ SPQ: Strategic People Quotient
People are an organisation’s main asset — they can make or break a company. Leaders need to create an environment of building their people. They must focus on key competencies so they can help the organisation in the long-term.
Leaders should tap into the team’s wisdom to generate ideas by focusing both on short and long term. They must listen to the team’s views and communicate the strategic direction of the organisation. They should create a comfortable environment for people to question the status-quo.
~ SRQ: Strategic Road Map Quotient
Leaders need to lay the roadmap to achieve long-term strategic goals. It is not only about the roadmap, but also in planning and executing them. They need to be clear about the vision and the mission of the organisation. They need to communicate the same to the people and create a collaborative environment to execute the plan. They need to forecast the future and be ready to handle the obstacles.
If you are the captain of the ship, be prepared to face the storm, thunder and the rough seas and be able to guide the ship to its destination along with the team.
The strategic journey is full of learning with failure and success and for a strategic leader, the learning never stops.
(The writer is Consultant with Centre for Behavioral Excellence, Talent Transformation at Wipro Limited. The employer does not subscribe to the substance or veracity of the writer's views)