Short answer: it’s about learning, not planning.
The very word strategy offers up connotations of planning and images of executives in suits and ties sitting around a large table at on off-site meeting facility laying down quarterly objects. However, Hughes and Beatty (2005) assert that true strategy must begin and stay focused on strategic thinking, not planning. Where strategic planning would determine the goals for an organization’s next fiscal year, strategic thinking would take a step back and first take a lesson from the hedgehog discover what one thing you do extremely well and do differently.
Hughes and Beatty borrow this concept from Collins’ (2001) Hedgehog Concept, which itself is borrowed from a poem by Isaiah Berlin. At its core, the Hedgehog Concept is involved with establishing what the organization can do well, be passionate about, and make money doing. Collins is quick to note that this is not a goal or a plan to be the best at something; rather it is an understanding of where you are now and what that can lead you to.
This distinction is crucial and helps shed light on the differences between strategic planning and strategic thinking.
Collins, J. (2001). Good to great. New York, NY: HarperBusiness.
Hughes, R. L., & Beatty, K. C. (2005). Becoming a strategic leader: Your role in your organization’s enduring success. San Francisco, CA: Jossey-Bass.
Every experience has a moment that one can learn from. It’s what you do with that info once you know it.
Very true. Thanks for stopping by.
Congratulations! This post was selected as one of the five best independent business blog posts of the week in my Three Star Leadership Midweek Review of the Business Blogs.
http://blog.threestarleadership.com/2010/09/15/91510-midweek-look-at-the-independent-business-blogs.aspx
Wally Bock
Awesome news. Thanks Wally!