What do business leaders who think strategically do that is different? The following is my own personal shortlist of the essential qualities that a good strategic leader must possess:
- Focus on the big picture. Strategic leaders see the big picture and don’t get bogged down in fine details.
- Outward looking. Strategic leaders look outwards into their organization’s environment and markets to see latent and emerging needs.
- Visionary. Strategic leaders have an image of the future and their organization’s place within it.
- Value-driven. Strategic leaders focus on their firm’s value and how it can be made more unique and differentiated.
- Analytical and synthetical. Strategic leaders can analyze situations to clarify the key elements and then bring those elements together in new business models and paradigms.
- Risk managers. Strategic leaders identify risk factors associated with their plans and develop contingencies to manage them.
- Reflective. Strategic leaders reflect on the outcomes and impact of their actions, adjusting and re-strategizing as needed.