Strategy + Innovation = Competitive Advantage

Research shows that only 25 percent of managers believe their companies are good at both strategy and innovation. It’s no wonder then, that poor strategy is the #1 cause of bankruptcy. Too often, strategy and innovation are approached separately. Innovation is the continual hunt for new value; strategy is ensuring we configure resources in the best way possible to develop and deliver that value. By becoming an elite strategic thinker, a leader is better prepared to fuse strategy and innovation into competitive advantage.

New York Times bestselling author on strategy Rich Horwath shares with leaders a powerful framework called the Three Disciplines of Advanced Strategic Thinking to harness the power of strategy and innovation:

COALESCE: Fusing together insights to create an innovative business model.
COMPETE: Creating a system of strategy to achieve competitive advantage.
CHAMPION: Leading others to think and act strategically to execute strategy.

Key Learning’s:

  1. Understand the principles of both strategy and innovation.
  2. Utilize a strategic thinking framework to create new profitable growth.
  3. Design a stronger business model to achieve competitive differentiation.
  4. Develop innovative strategies based on your specific competitive position.
  5. Create strategic innovation throughout the organization by changing thinking and behavior.

Deep Dive: Building Strategic Thinking Skills for Competitive Advantage

Recent studies on leadership by the Wall Street Journal and Chief Executive Magazine have found that the #1 ranked, most valued skill in leaders today is strategic thinking. But only 3 out of every 10 managers are strategic. In this interactive and highly relevant session, Rich Horwath helps business people at all levels understand what strategy is and how to think strategically on a daily basis to profitably grow their business. The result is that participants leave with a framework to think strategically on a daily basis and gain practical tools to reach their true strategic potential.

Key Learning’s:

  1. Master the three disciplines of strategic thinking to be proactive instead of reactive:
    • Acumen: how to generate new insights for new business growth.
    • Allocation: how to prioritize activities and resources.
    • Action: how to stay focused on the important, not urgent.
  2. Develop a common understanding, language and toolkit for strategy.
  3. Create differentiated strategies to build sustainable competitive advantage.
  4. Enhance the ability to make strategic trade-offs to focus resources.
  5. Overcome five execution errors to successfully implement strategy.

Strategy for You: Using the Principles of Strategy to Achieve Business & Personal Success

Strategy is the foundation of success in business. Strategy creates the bridge from where you are today to where you want to go. But, very few people know what strategy is and how to effectively use it. As a former chief strategy officer and professor of management, Rich Horwath provides a five-step plan for using the foundational principles of strategy for both business and personal success:

  1. DISCOVER: Uncover your purpose through insight.
  2. DIFFERENTIATE: Identify your unique strengths.
  3. DECIDE: Allocate your resources.
  4. DESIGN: Develop your action plan.
  5. DRIVE: Execute your plan.

Using real-world examples from business, sports, and entertainment, Rich provides audiences with an understanding of what strategy is and how to use it at work and home. The result is the power to get from where you are today to where you want to go–the power to live strategically.

Key Learning’s:

  1. Master the concept of strategy and effectively develop goals, objectives, strategies and tactics for your business, career, and personal life.
  2. Confidently make strategic decisions to most effectively allocate your time, talent and budget at work and at home.
  3. Apply the five-step process to build real-world strategies that achieve your professional and personal goals.
  4. Create a blueprint to guide your business and personal activities.
  5. Practice using strategy tools on your business and personal initiatives.

Contact us to learn more about bringing Rich into speak with your group.