Mauricio is president of the European operation for a Fortune 500 manufacturing firm, and his firm has had its trials lately. The company recently took a hit on the stock market. One of its major suppliers is under an ethics investigation resulting in significant delays. And a very visible acquisition under Mauricio’s leadership is struggling.
Keeping Your Strategy Meetings Focused on the Long Term
Senior executives need to balance the long- and short-term demands of their businesses. But often when they meet to discuss strategic issues, short-term concerns and immediate crises take over the agenda. How do you keep the focus on strategy?
There are three reasons that the short-term can distract executives from a strategic discussion. First, executives are hesitant to discuss topics outside their area of expertise, especially if they’re new to senior leadership. Second, leaders like to solve problems and check them off, and short-term items provide us with visible ways to mark progress. Finally, executives sometimes treat a strategic discussion the way they would a short-term issue — they may grab the first idea that seems viable and solve for it, rather than viewing the problem from multiple angles first.
Fortunately, there are ways you can avoid these traps as you plan your own strategic meeting. Consider the following tips:
- Design a learning environment, so leaders will be more confident in their abilities to participate in strategic meetings.
- Detach operational meetings from strategic ones.
- Explore strategic issues from multiple angles.
- Declare your intention to discuss strategy and stick to it.