HBR Guide to Thinking Strategically

1 HBR Guide toThinking i10/22/18 11:19 AMHarvard business Review GuidesArm yourself with the advice you need to succeed on the job, from the most trusted brand in business . Packed with how-to essentials from leading experts, the HBR Guides provide smart answers to your most pressing work titles include:HBR Guide for Women at WorkHBR Guide to Being More ProductiveHBR Guide to Better business WritingHBR Guide to Building Your business CaseHBR Guide to Buying a Small BusinessHBR Guide to Changing Your CareerHBR Guide to Coaching EmployeesHBR Guide to Data Analytics Basics for ManagersHBR Guide to Delivering Effective FeedbackHBR Guide to Emotional IntelligenceHBR Guide to Finance Basics for ManagersHBR Guide to Getting the Right Work DoneHBR Guide to Leading TeamsHBR Guide to Making Every Meeting MatterHBR Guide to

2 Managing Stress at WorkHBR Guide to Managing Up and AcrossHBR Guide to NegotiatingHBR Guide to Office PoliticsHBR Guide to Persuasive PresentationsHBR Guide to Project ii10/22/18 11:19 AMHBR Guide toThinking StrategicallyHARVARD business REVIEW PRESSB oston, iii10/22/18 11:19 AMCopyright 2019 Harvard business School Publishing CorporationAll rights reservedPrinted in the United States of America10 9 8 7 6 5 4 3 2 1No part of this publication may be reproduced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, mechanical, photocopying, recording, or otherwise), without the prior permission of the publisher.

3 Requests for permission should be directed to or mailed to Permissions, Harvard business School Publishing, 60 Harvard Way, Boston, Massachusetts web addresses referenced in this book were live and correct at the time of the book s publication but may be subject to of Congress Cataloging-in-Publication DataTitle: HBR Guide to Thinking : Boston, Massachusetts : Harvard business Review Press, [2019] | Series: Harvard business Review guides | Includes ers: LCCN 2018032610 (print) | LCCN 2018036095 (ebook) | ISBN 9781633696945 (ebook) | ISBN 9781633696938 (pbk.)

4 Subjects: LCSH: Strategic planning. | business planning. | Industrial cation: LCC (ebook) | LCC .H394 2019 (print) | DDC dc23LC record available at : 9781633696945 The paper used in this publication meets the requirements of the American National Standard for Permanence of Paper for Publications and Documents in Libraries and Archives Press Quantity Sales DiscountsHarvard business Review Press titles are available at signifi cant quantity discounts when purchased in bulk for client gifts, sales promotions, and premiums.

5 Special editions, including books with corporate logos, customized covers, and letters from the company or CEO printed in the front matter, as well as excerpts of existing books, can also be created in large quantities for special details and discount information for both print and ebook for-mats, contact tel. 800-988-0886, or iv10/22/18 11:19 AMWhat You ll LearnYour boss just told you to think Strategically , but what does that mean? Acting on this feedback is crucial for anyone looking to advance their careers especially as-piring leaders.

6 But it rarely comes with concrete advice on how to do a basic level, Thinking Strategically means main-taining a broad perspective on every aspect of your daily work, from making decisions to setting your team s pri-orities and managing your own productivity. To do so, you need to understand your company s key objectives and strategy and keep those driving forces front of mind when you re faced with tough choices and competing goals. You must also align your team with these organi-zational needs, so that they re working on the projects and initiatives that contribute most to executing the company s strategy.

7 And you must remain agile, able to identify changes in your business environment and alter course when objectives can be difficult to prioritize big-picture needs over short-term demands and to know how to switch be-tween the two. This Guide provides practical tips and v10/22/18 11:19 AMviWhat You ll Learn approaches to help you embed strategic Thinking into your everyday work, so you can strike the right balance, create real value for your organization, be known as a strategic thinker and achieve your own career ll learn how to.

8 Be more strategic in your daily work Ask questions to better understand your com-pany s strategy Demonstrate your Thinking skills in ways that your bosses will notice and respect Make faster, better decisions Identify when to broaden or narrow your perspective Detect patterns in internal and external trends Set your team s priorities based on goals, resources, and timing Navigate conflicting objectives and manage trade-offs Cut projects that are no longer adding value Communicate a company vision to your employees Align your team to execute the strategy Deal with common problems like unclear strategic goals or a strategy you disagree vi10/22/18 11:19 AMContentsIntroduction Why Everyone Needs to Think Strategically 1In complex situations, you need a broader ONEGet Started: Be Strategic in Your Daily Work 1.

9 Strategic Leadership: The Essential Skills 13 Six abilities to hone and PAUL J. H. SCHOEMAKER, STEVE KRUPP, AND SAMANTHA HOWLAND 2. To Be Strategic, Balance Agility and Consistency 27 Execute on core principles, but be open to JOHN COLEMAN 3. Prove You re Ready for the Next Level by Showing Off Your Strategic Thinking Skills 33 Don t just develop them demonstrate NINA A. vii10/22/18 11:19 AMviiiContentsSECTION TWOU nderstand Your Organization s Strategy 4.

10 Understanding Your Organization s Strategy 43 Gather perspectives from stakeholders and think through your objectives. 5. Strategy Isn t What You Say, It s What You Do 51 How strategy connects to your daily ROGER L. MARTIN 6. Building a Strategic Network 55 Relationships to help you prepare for the LINDA A. HILL AND KENT LINEBACKSECTION THREED evelop a Big-Picture Perspective 7. Spotting Trends and Patterns That Affect Your business 61 Find connections between internal and external NINA A. BOWMAN 8.