How can you choose the right strategic thinking framework for your industry?

One of the outcomes of effective strategic thinking is that decisions are made with discernment and judgement that contribute to the strategic priorities and objectives of the organisation. There are two areas of emphasis that I find valuable in coaching executives: 1. Does that thinking contribute to strategic outcomes? 2. What informed your thinking? Increasing self-awareness into not just 'What was the thinking..' but also INSIGHT into 'Why did I think that way?' We tend to have a directional bias in how we think - Past, Future, Big Picture or Detail, among many others.

There is no one silver bullet strategic thinking framework. As the Brits say, its horses for courses. Choose the framework that fits your situation. Use multiple frameworks to get different views on the same situation. The purpose of any strategic framework is to help you organize your thoughts to address a vexing strategic decision.

🌲In the vast landscape of strategic thinking, identifying the goal is akin to charting a course through a dense forest. 🧭Techniques such as SWOT analysis, scenario planning, and value chain analysis act as compasses, guiding industrial designers towards their destination. By defining clear objectives, they can navigate the terrain of strategic frameworks with purpose and clarity. 🕵🏻♂️Just as a skilled navigator reads the stars to find direction, understanding the goal allows designers to select the most suitable framework, ensuring their journey through strategic decision-making is both efficient and effective.

To pick the right strategic thinking framework for your industry, assess your unique challenges, trends, and goals. Choose a framework that aligns with these factors and can be tailored to your organisation's specific needs, ensuring it’s actionable and supports your strategic direction.

A helpful first step is to look up and analyze the market and your customer insight. We too often establish goals/objectives in silo. Even the most successful companies have missed the "boat" on capitalizing on their strength to take things to the next level. After having a true picture of how the world looks, then you SWOT and start making assumptions and setting targets (both stretch and run the business).

🗺️Understanding your context is like studying the landscape before embarking on a journey. 🛣Industrial designers must analyze market trends, competitor actions and technological advancements, much like explorers assessing terrain and weather conditions. Techniques such as PEST analysis, Porter's Five Forces, and market segmentation act as maps, revealing the intricacies of the environment. 📊By comprehensively grasping the context, designers can choose the strategic thinking framework that aligns with the unique challenges and opportunities of their industry, ensuring a well-guided and successful expedition through the realm of strategy.

Contexts are basic factors within/around an environment that can influence actions or outcomes. Understanding the context of your industry as well as the problem you are trying to solve will do more than just optimize your strategy, it will also ensure that every step you take critically aligns with the context. It will also help you avoid force-fitting a framework or strategy.

I think this is the most important aspect of any communication.If you don't understand your audience, how do you know you are offering something they are interested in? How do you know they understand your message? In order to think like people in your industry, you need to listen and learn from them. That's why I like the content on LinkedIn. It's such a great way to get to know the people you are working with our trying to reach.

Oddly, the most effective way to determine the right strategic thinking framework, is to carefully analyze, and understand the core political, socioeconomic, & organizational idiosyncrasies that are already an integral part of the industry. Then, compare and contrast the key elements of the top three three strategic thinking frameworks in your industry, and find the framework whose tenets are most closely aligned, with the industry, or entity within an industry. In a sense the strategic thinking framework will identify itself, by containing elements that are most likely to achieve the best results.

Choosing the right framework is an important step that should be followed by a thorough analysis of each option and its alignment with your organization’s vision and mission. This process involves optimizing the results of the survey to ensure that they support your company’s strategic direction and goals. By carefully evaluating and refining insights from these processes, organizations can develop a customized strategy that not only aligns with their overarching objectives but empowers them to execute their program effectively.This process of selection and refinement ensures that the chosen program is appropriate not only to current needs but to the long-term aspirations of the organisation which support long-term aspirations as well.

👨🏻💻In my journey as an industrial designer specializing in kitchen cabinet, I've found immense value in learning from others to select the most suitable strategic thinking framework for our industry. 📚By attending industry conferences, networking events, and engaging with peers, I've had the opportunity to gather insights and perspectives from seasoned professionals and thought leaders. Through these interactions, I gained a deeper understanding of various strategic frameworks and their applications in our field. I've participated in collaborative workshops and discussions where diverse viewpoints were shared, allowing me to assess different frameworks' relevance and effectiveness in addressing our specific industry challenges.

I believe testing and seeking advice from others are two ways you can also develop a strong strategy. Connecting with others in your industry will provide you with a sounding board. Then, once you’ve come to an idea where the intention is understood, you test the strategy. I have also found it difficult to evolve my strategy if I don’t learn from others, thus why collaboration is so important.

Always be learning from others. Truly smart people know they don’t know everything. Listen to the experts. Show everyone in the org you are open minded.

Reverse engineer as many strategies in your industry as possible. Look at each company’s actions and figure out the why behind the choices they made. As I always say, incentives dictate behavior, so dig into those incentives as they dictate more of the strategy than the outward actions. When doing this exercise, recognize that there are a number of internal factors to consider that might not necessarily be visible to the outside - M&A research, funding decisions, new vertical innovation, etc. just follow what you can, and walk in that new information accordingly. Keep a little profile of these companies handy so you can understand how to navigate them especially when differentiating your own corporate strategy.

I have worked on expanding digital products in multiple geographies. In my perspective learning from other markets/peers is a key determinant of the amount of time and cost saved in doing a particular project It’s a very important step and will ensure that the wheel is not reinvented. It’s also adds a perspective of challenges faced by others which can make one’s journey a lot smoother

🔰In my role as production manager in kitchen cabinet industry, selecting the right strategic thinking framework for our industry involves a thorough assessment of our unique challenges, goals and market dynamics. 🔗One approach I've found effective is to conduct a comprehensive analysis of our industry landscape, including market trends, customer preferences and competitive forces. 🔗I collaborate closely with cross-functional teams to gather diverse perspectives and insights, ensuring a holistic understanding of our organization's needs. 🔗By considering factors such as our company's SWOT analysis, we can identify and tailor strategic frameworks that align with our specific objectives and drive sustainable growth.

You can study about your industry in the most refine way, by going to government websites which are built for foreign investors. You will find detailed information about every sector and up to date because the government maintains the accuracy by themselves. Apart from this many research houses also cover industry report yearly basis.

Different frameworks suit different goals and contexts. I can share how I use two frameworks: Porter's Five Forces and Business Model Canvas. - Porter's Five Forces helps me analyze the industry environment and the competitive forces. It helps me find opportunities and threats, and position my business accordingly. It also helps me assess the industry's attractiveness and profitability. - Business Model Canvas helps me design and test the business aspects, such as the value proposition, the customer segments, the revenue streams, and the cost structure. It helps me define and communicate my business idea, and validate it with customers and stakeholders. It also helps me improve my business model based on feedback and learning. -

Always consider convenience (for all stakeholders). Convenience could arguably be one of the most appealing and desirable universal strengths in any industry, internally (employees) and externally (customers).

Bring all of yourself to the table. Every job you have ever had, every position you have ever held, and every hobby you have ever engaged in all taught you for valuable lessons. Step outside of your industry and pull from all of your resources, using a holistic approach, and miracles will happen. A multidisciplinary perspective is a game changer. Do not be locked into a single lane, and bring things from other lanes into whatever lane you are currently working in. The introduction of new ideas is what changes the world. This is the benefit of cross disciplinary, thinking.