361: Transform Your Strategy at Every Level with the 3 As Framework with Rich Horwath
The Modern Manager
Understanding Strategic Thinking: Avoiding Common Pitfalls
This chapter explores the key components of effective strategic thinking and identifies common mistakes leaders make in their planning processes. It underscores the necessity of embracing risk and avoiding the pitfalls of relying solely on best practices to foster innovation and competitive advantage.
Do you ever feel like you’re just going through the motions at work, unsure about the exact strategy to guide your decisions? This episode will change that.
In the business world, the word “strategy” is quite the buzzword. But what does it really mean to think and lead strategically? And what can you do as a manager to get better at it?
If you want to stop wasting time and start making powerful strategic decisions no matter your position, today’s guest is here to unpack everything you need to know about being strategic.
Today’s guest is Rich Horwath, CEO of the Strategic Thinking Institute. Over the past 20 years, Rich has helped more than one million managers around the world learn how to think, plan, and act strategically. He is a New York Times bestselling author of 8 books on strategy and his vision is to teach the world to be strategic.
In this episode, Rich shares his insights on how strategy is often misunderstood and why it’s crucial for everyone—from individual contributors to senior leaders—to think strategically.
He breaks down the difference between strategy and tactics, explaining how understanding the distinctions can lead to better decision-making. He also shares a practical framework for everyday strategic thinking and how to manage your time, allocate resources wisely, and pivot when necessary to stay on course
Plus, in the extended episode available to Podcast+ members, Rich delves into what isn’t strategic thinking and the tools that will help you act more strategically.
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Conversation Topics
- (00:00) Introduction
- (00:23) The difference between strategy and tactics explained
- (04:10) Why strategy matters at every level of the organization
- (06:08) The 3 As framework: Acumen, Allocation, and Action
- (07:57) What it looks like to apply the 3 As framework in practice
- (12:06) Making smart decisions through resource allocation
- (18:34) How to stay strategic in a constantly changing environment
- (22:39) A real-world example: Adjusting tactics to align with strategy
- (25:30) A great manager Rich has worked for
- (26:39) Keep up with Rich
- (27:27) [Extended Episode Only] What it looks like when you’re not being strategic
- (30:59) [Extended Episode Only] Tools to help you act more strategically
Additional Resources:
- Get the extended episode by joining The Modern Manager Podcast+ Community for just $15 per month
- Read the full transcript here
- Follow me on Instagram here
- Visit my website for more here
- Upskill your team here
- Subscribe to my YouTube Channel here
Keep up with Rich Horwath
- Follow Rich on LinkedIn here
- Subscribe to his YouTube channel here
- Listen to the Strategic Minds Podcast here
- Check out StrategicThinking Institute here for more
Book Giveaway - 5 copies of Strategic AND Free White Paper on Delegation
Rich is giving away five copies of his book STRATEGIC: The Skill to Set Direction, Create Advantage, and Achieve Executive Excellence, which Inc. Magazine described as “A top 4 must read business book to kick off the year.” In the book, Rich shares practical tools, tips, and techniques he’s developed over two decades that can help you think, plan, and act strategically in every area of your business.
And, members of Podcast+ can download Rich’s White Paper: Lead at Your Level, which addresses the importance of delegation to a leader’s success. In the article, Rich shares the four factors that are crucial to effective delegation and the ability to unlock dozens of hours of extra time each year.
To get this bonus and many other member benefits, become a member of The Modern Manager Podcast+ Community.
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The Modern Manager is a leadership podcast for rockstar managers who want to create a working environment where people thrive, and great work gets done.
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