How to Think Strategically

Davide Sola is professor of Strategy and Management at ESCP Europe and visiting faculty at Business School in Finland, India and Italy. He is also a Principal at 3H Partners, who work with multinational organisations and governments in Europe, US and Africa. Jerome Couturier is an associate professor of strategy and management at ESCP Europe. He is the author of several articles, policy papers, book chapters, case studies and papers presented at international management conferences. He is also co-founder and president of 3H Partners

• INTRODUCTION  PART I: STRATEGIC KNOW-HOWChapter 1 – What is Strategy?What strategy is - and what it isn’t.The Key Elements of StrategyIdentifying the Core challengesCoordinated, creative and sustainable actionsCreating value  Chapter 2 – What is Strategic Thinking?What is thinking?What is strategic thinking?What does it take to think strategically?The Strategic Mind.The strategic thinking process.  Chapter 3 - Turning Strategic Thinking into StrategyThe Link Between Learning And Strategic ThinkingHow to Maximise Strategic Learning  Chapter 4 – What is Business Strategy?The importance of Competitive advantageHow do you create Competitive Advantage?The right ingredients: the sources of competitive advantageA recipe: the value creating options  PART II: THE STRATEGIC PLANNING PROCESSChapter 5 –  Managing the Invisible HandWhat is the invisible hand?Where does it come from?How does it become visible?How can you manage it?  Chapter 6 – Assessing the current situationAre you in the right place?Macro Environment FactorsIndustry-related FactorsDo you have a competitive Advantage?Where does superior value creation come from?Value propositionKey activitiesResources and competencesValue NetworkOrganisational culture  Chapter 7 – Identifying the core challenges.How to identify challengesHow to validate challengesHow to select core challenges - the importance of trade-offsDefining what success will look like – Strategic Objectives and strategic Guidelines  Chapter 8 – Solving the core challengesReducing the complexity of the core challengeIdentifying the key constituents of the core challengeUnderstanding the importance of its constituentsDeveloping potential solutionsLateral thinkingSolution shop approachCo-creation workshopsPractical tools for generating solutionsThe Blue Ocean StrategyThe 7 degrees of freedomSelecting the best potential solutionsTiming the initiatives  Chapter 9 -Reducing uncertaintyExperimenting to reduce uncertaintyPhase 1:  Stating the underlying assumptionsPhase 2:  Testing assumptions about ValuePhase 3:  Testing assumptions about growthPhase 4:  Testing assumptions about sustainabilityOngoing testing and learning  Chapter 10 – Managing ExecutionA will to act.A coordinated approach.Setting the scene.Launching and spreading change.Creating a compelling story.Using Role Models.Accelerating the speed of change.Consolidating change.  Glossary: Key concepts and definitions

‘Quite a tour de force! Davide Sola and Jerome Couturier have managed to produce a thoughtful and practical strategy handbook, full of step-by-step advice and concrete examples. A must read - and a must use - for any leader eager to position their business for success.’  Hubert Joly, President and Chief Executive Officer, Best Buy Co., Inc. ‘Finally... a clear and comprehensive guide that sets out, step by step, how to create a compelling and actionable strategy. This book is a must read for anyone who needs to create a strategic plan and then execute it! The book gives straightforward and practical advice on how to think and act strategically. Best of all, it is written in plain English and not full of impenetrable business speak.’  Andy Ransom, Chief Executive Officer, Rentokil    ‘With strategy, timing is everything. This book is a reminder that strategic thinking is the first step to change management and success. It makes it clear that strategic thinking should not be daunting compared to the other day to day challenges we all face; it might even make those challenges easier! I love it, it helps me to clarify and structure my entrepreneurial ideas.”  Eric Babolat, President and Chief Executive Officer, Babolat  " The authors are masters at integrating deep strategic thinking with wisdom and actionability. Clear, concise, effective, brillant!"  Gianemilio Osculati, CEO of Wealth Management at SanPaolo  Assicura   ‘This is a truly inspirational book which clearly sets out the steps to strategic success. It is a very useful tool for managing in the current very uncertain strategic context.’  Nicolas Petrovic, Chief Executive Officer, Eurostar    ‘In a sea of very useful frameworks and great cases about strategy, what really strikes me is the lean testing methodology which is truly compelling. This is a great way to hedge uncertainty across cycles, geographies, business models and also personal biases. I really see a way to transform the strategic process into a learning process for my organisation.’  Aldo Bisio, Chief Executive Officer, Ariston Thermo  ‘I have been impressed by both the quality and practicality of the book. On one hand it is built as a guidebook that managers can use on an ad-hoc basis, particularly for large transformational initiatives. On the other hand, it reads fantastically well in one go, providing a holistic and fascinating view of what strategic thinking is about. The ideas and tools proposed in the book are definite success factors for all organisations.’  Nicolas Japy, Group Chief Operating Officer, Sodexo  ‘This book is an absolute must read for anyone who aims to successfully manage a business. Jerome and Davide have definitely succeeded in redefining strategic thinking, in a vibrant, thought-provoking and convincing manner. This book is really about the future of management.’  Albert Bourla, President & General Manager, Established Products Business Unit at Pfizer  ‘How to Think Strategically provides a simple and useful approach to the most misused word in business: strategy. Together with the app, it helps to focus on what is relevant.’  Daniel John Winteler, Chief Executive Officer, Miroglio Group  ‘How can you move from the simple desire to be strategic to actually having in place robust a