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Insight-driven strategic thinking & problem-solving
Published on August 29, 2021 8 min
Other Talks in the Series: Key Concepts: Strategy in Practice
Greetings and welcome to this session on Strategy in Practice. My name is George Tovstiga and I'm Professor of Strategy at EDHEC Business School, France. In this session, we will explore Insight-Driven Strategic Thinking and its role in solving strategic problems that present themselves in the practice field.
Strategy in real business contexts presents the strategy practitioner with a persistent dilemma when facing a strategic challenge. Regardless of whether it's threat or opportunity-driven, strategic problems that demand to be addressed present themselves in contexts that are typically complex, muddle, ambiguous, and not seldom infused with irrational factors. Good strategizing, on the other hand, demands clarity, conciseness of thinking to enable decisive decision-making in response to the strategic challenge. Where do we begin? How do we approach solving a strategic problem?
In this session, we will introduce insight-driven strategic thinking as an approach to resolving the strategic problem-solving conundrum. The first-principles approach to sense-making, intrinsic to strategic thinking, enables us to drill down to the root cause of the problem in a systematic and structured way.
Insight-driven strategic thinking derives from the classical structured problem-solving algorithm, it begins with an as clear as possible formulation of the problem to be solved and in subsequent steps leads us through the framing of the critical issues presented by the problem, articulation of strategic questions prompted by these issues and ultimately, helps us identify relevant and important insights that are critical to the problem's resolution. The emphasis is on strategic key to insight-driven strategic thinking is the relentless focus on issues, questions, and insights that are critical to the problem's resolution, those at the highest relevance potential impact.