CEOs are not equipped to forecast the future direction of their industry. In fact, in our recent assessment of nearly 25,000 respondents across 175 countries, we found that predicting competitors’ potential moves and likely reactions to new products or initiatives ranks weakest among strategic behaviors. And out of six key elements of strategic leadership, the “ability to anticipate” consistently ranks at the bottom.
Strategic thinking emphasizes the need to balance today’s performance with future opportunity in order to manage risk and navigate through the uncertainty of the business landscape. The ability to think strategically sparks new ideas and future business propositions that are the lifeblood of long-term success, but many CEOs and senior executives continuously struggle to look past the present and put the future in focus. In fact, Chief Executive magazine has previously reported that a staggering seven out of 10 leaders don’t consider themselves to be strategic. So, where have all the strategic leaders gone?