What we’re seeing in this economy is ‘survival of the strategic.’ If a management team isn’t thinking and planning strategically today, they run a real risk of not having a business tomorrow.
Barrington Hills, IL (PRWEB) June 06, 2011
Fortune 500 companies are often applauded for their innovative business practices and success in the public sphere, but when put to the test, many of their managers demonstrate a distinct lack in strategic thinking. The results of the Strategic Thinking Assessment completed by nearly 900 managers shows the average respondents’ score is 60 out of 100, or in school terms, an ‘F.’
“It’s understandable that the number one cause of bankruptcy is bad strategy, because very few managers actually have that skill. In most cases, they simply haven’t been given the knowledge and tools to think that way,” said Rich Horwath, president of the Strategic Thinking Institute.
This new data follows the Harris Interactive study from 154 companies that revealed only three out of every ten managers are strategic.
Horwath instructs Fortune 500 companies in workshops for leadership development training to move managers from tactical to strategic methods. His latest book, titled Deep Dive, provides a roadmap for managers at all levels to generate new insights and focus resources on a daily basis.
“What we’re seeing in this economy is ‘survival of the strategic.’ If a management team isn’t thinking and planning strategically today, they run a real risk of not having a business tomorrow,” said Horwath.
After completing Horwath’s strategic planning training, companies saw a 30 percent increase in advanced thinking capabilities, with the average score being 90 percent. Though many Fortune 500 companies scored poorly on the initial assessment available online, Horwath demonstrates how a change in corporate strategy can lead to statistically rewarding results.
About Rich Horwath:
Rich Horwath is the founder of The Strategic Thinking Institute and is a former chief strategy officer and professor of management at the graduate level. He is the author of four books, including Deep Dive: The Proven Method for Building Strategy. He has published more than 75 articles to help individuals, management teams and corporations develop a competitive advantage.