Corporations cannot reinvent themselves by applying the same old strategic thinking of the past. Instead, if they’re going to change to meet the demands of the Social Era they are going to have to think differently about strategy.
While there is no generally accepted definition for strategic thinking, no common agreement as to its role or importance, and no standardized list of key competencies of strategic thinkers; most agree that traditional models of strategy making, which are primarily based on strategic planning, are not working. Strategy in today’s competitive business landscape is moving away from the basic ‘strategic planning’ to more of ‘strategic thinking’ in order to remain competitive.
Thinking About NextGen Strategies
Business environments have changed in fundamental ways and ideas about strategy can be found from the outside on the edge rather than inside. People outside the organizational walls are free to think without the restraints created by the organizations culture and power influences. In the connected world, were the intangible assets create the tangible value, NextGen Strategic Thinking will follow a new process created by these 10 guiding principles:
- Strategy starts with understanding the organization purpose
- Strategic insight comes from the many rather than the few
- Shift your thinking from keeping people out to letting people in
- Think inclusive rather than exclusive.
- Think about distributed vs. contained power
- Think speed rather than process.
- Think about value creation rather than expense controls
- Think about co-opetition vs. competition.
- Think about consumers as “co-creation” partners.
- Think about what people value most and give it freely
NextGen strategies will not come from traditional thinking rather they will come from radical thinking about how best to discover and create value. Value creation starts with people united with a purpose that creates passion for discovering how to create more and more value that people want.
NextGen Strategies come from strategic guiding principles rather than any specific strategic process of yesterday.