Given the acceleration of change and mounting complexity in today’s business environment, the ability to sense and respond to emerging threats and opportunities has become essential to organizational survival.
As Peter Drucker expressed it, “In times of turbulence, the first task of management is to make sure of the institution’s capacity for survival.” Despite this clear imperative, leaders often fail to devote the effort necessary to think strategically, let alone work on building their strategic capabilities.
“I don’t have time,” “It’s too theoretical,” and “My industry changes too fast” are common excuses leaders give for not engaging in strategic thinking. These justifications reflect a fundamental misunderstanding of the value and purpose of strategic leadership amid the intense day-to-day pressures of running a business. If you identify with any of these explanations, you’re not alone. However, it’s not too late to embrace the development of this critical capability – one that may well determine your organization’s long-term success or failure.
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