Strategic thinking

- Most people's thinking is dominated by the here and now, but effective executives make a habit of thinking ahead in time and space. They think in a disciplined way about the future, and they think beyond their tasks and team. They consider implications for their organization as a whole, as competitors, the economy, social implications, even global developments. That's strategic thinking, and it reveals problems and possibilities most others miss. As an example, let me tell about you Glen Barros, CEO of Concord Music Group. He's at the center of one of the most remarkable stories in the history of modern music, Ray Charles' final recording. Notice the many levels of strategic thinking. One, Barros proposed an innovative partnership with coffee giant, Starbucks, to produce their own recordings instead of licensing from various other record companies, and sell the recordings in Starbucks Cafes, that was new. Two, the first artist he proposed was a brilliant choice, Ray Charles, a world famous name, but at that point near the end of this career, his new recordings hadn't been selling much, it was the perfect time for a new release. Three, Barros proposed a duets album, one of the first of its type. He foresaw lining up a musically diverse list of prominent artists, young and old, that would attract a larger audience. Who wouldn't want to sing with Ray Charles? Four, Barros was strategic in working with Ray Charles' organization, too. They were skeptical having been burned in the past by deals skewed against Ray's interests. Glen proposed a non-traditional business arrangement in which one side didn't benefit before the other, and the project was on. "Genius Loves Company" went on to receive eight Grammy Awards, including Album of the Year, tying the most Grammy's ever won by a single album. It also became Ray's most successful record ever, selling six million copies and counting. It's a gift to the world, and many were involved, but it never would have happened without a consistent pattern of strategic thinking from Barros. To enhance your strategic thinking, here's what to do. Listen to interviews with CEOs and business leaders, and pay close attention to how they talk about their choices and future plans. Read the annual reports of firms in and out of your industry and study their strategies. Seek roles, projects, and relationships that expand your perspective. Push your own thinking, don't wait for someone else to do it for you. Ask lots of what if questions, generate different scenarios for what might happen in technology trends, market fluctuations, international affairs, and government policies. Also ask what if questions as if you were in a different role. What if you were the CEO, what would you do? What if you were in charge of your competitor's firm, and so forth. Interact consistently with other creative and strategic thinkers. Find these people, take initiative. Pose questions, notice the thought process, and expand the breadth of your point of view. Genius does love company, so take a note from Glen Barros, and Ray Charles, too. Use strategic thinking consistently to set a direction for success.