Strategy as Strategic Decision Making

11 02 2010
  1. Four Approaches to creating strategy and making decisions
    1. Build Collective Intuition
      1. Effective Strategists
        1. Very likely to hold “don’t miss” meetings
        2. Avoid accounting and future based information
        3. They use real-time information to build their assessments
          1. Both internal and external
      2. Less Effective Strategists
        1. Rarely meet with colleagues
          1. Cancel meetings due to traveling
        2. Rely on market analyses and future trend projections that are rendered useless eventually.
        3. While they may be knowledgeable about their respective interests, there is no collective intuition.
      3. Why it works
        1. Creates teams that know each other very well
        2. Creates frank conversations.
        3. Creates a “gut feeling” that gives managers a grasp of changing competitive dynamics.
    2. Stimulate Quick Conflict
      1. Effective Strategists
        1. Accelerate Conflict
          1. Create diverse teams of differing ages and gender.
          2. Use “Frame-breaking”
            1. Scenario planning to create different future outcomes.
          3. Creating Multiple Alternatives
      2. Why it works
        1. Different POVs
        2. Constructive conflict is expected
    3. Maintain the Pace
      1. Effective Strategists
        1. Make decision a pace rather than a race
        2. Take two to four months on a decision
        3. Prototype decision and test them
      2. Less Effective
        1. Rush to a decision
        2. Aren’t prepared and procrastinate
        3. Usually end up having a person making a “shot gun” call
      3. Why it works
        1. Helps managers plan and recognize similar aspects of decision making
        2. Consensus with Qualification
          1. The goal for decision is to have a consensus.
          2. If no consensus, pull the trigger
    4. Defuse Politics
      1. Effective Strategists
        1. View that politicking is using information for their own advantage, leading to poor decision making
        2. Create common goals
        3. Balanced power structure among managers
        4. Humor defusing politics
      2. Less Effective
        1. Usually have an inward focus that lacks teamwork
        2. Try to impress the CEO
      3. Why it works
        1. Creates a sense of shared fate
        2. Puts people in a positive mood



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