What is the secret to making a high impact? In the world of business, strategists use three essential skills and resources to make an impact. William Bratton turned around the situation in New York City. Jack Welch transformed the sleepy GE into a growth juggernaut. At their core, all strategists use these three skills.
Watch the video to learn how to create a high impact?
The transcript of the video is as follows:
Hi, I am Ankush Chopra. Let’s talk about high impact.
Do you know how strategic innovators create massive impact?
How did William Bratton turn around New York City from being a high crime area to a low crime area? And how did Michael Dell enter a difficult to enter industry like computers and built a successful business? In fact, how does any strategist create a high impact?
The answer lies in three core skills and resources.
Strategic Absorptive Capacity
The first skill is strategic absorptive capacity. It refers to a large set of mental models that strategists accumulate. Such mental models allow them to make sense of the world through pattern matching. Bratton connected the problem of New York City with a sociology theory called broken window theory. This allowed him to match the situation in New York City with the tenets of the theory. It enabled him to take rapid action and clean up the city.
Strategic Thinking Skills
The second skill is called strategic thinking skill. It boils down to just two things. First the ability to see the core of a problem. To be able to cut through the clutter to see that one big issue that will turn around a situation. Second, the ability to identify the highest impact levers. When you see the core issue and identify the highest impact levers in a situation, you hold the key to a turnaround of that situation. This allows a strategist to create a massive impact.
The Strategy Process
The third is the strategy process. Such a process allows an organization to focus on the most critical strategic variables and use a feedback mechanism to steer the business towards success. William Bratton used not just the broken window theory but also a strategy process when turning around the new york city.
In short, you need three things to become a high impact strategist.
Strategic absorptive capacity
Strategic thinking skills
The Podcast Link
Listen to the entire story of Bratton and the essence of a strategist in my podcast linked below.
The link to the podcast is: