Current strategic leaders: Skip to CTA at end.
Early in my career I was with Fortune 100 company. We tracked top 300 employees. Planned their careers with them. Then reviewed plan with employee every year. Taught me to look to future. For company and employees. Eliminated surprises.
Those striving to become true strategic leaders? Identify where you are in this process. What additional do you need to do?
We are seeing resumes of people who have been in leadership positions 3 months. They are referring to themselves as Strategic Leaders. That got me thinking. I know many VP’s who are and have been strong leaders for years. But I don’t consider them strategic leaders.
I have been in position of leadership for decades. I’m strategic. But that’s not what makes me a strategic leader.
Why am I making a distinction?
Our blog has tags for Leadership and Strategic Leadership. Strategic Leadership is written for Chairmen, Presidents, CEO, and few EVP’s.
Many leaders are reading strategic leadership blog. That’s great! Glad to see more leaders striving toward strategic leadership positions. They are needed.
Technology is moving faster. Performance timelines are shrinking. Hospitality Industry needs people who can transition to strategic leaders. Think bigger picture than their current role.
But what distinguishes the terms? Where are people on their journey?
What are identifying characteristics of each:
-Being strategic
-Leadership, and
-Strategic leadership
Going through this has clarified our company thinking. What role are people filling? It’s eliminated confusion between people and departments.
It also clarified terms and steps for employees. They have identified clearer career paths.
Being Strategic focuses beyond next quarters results. Looking down road at least a year. Concentrating on the “what” and “why” of the business.
Instead of the “how”. “How” is operational. “How” impacts the outcome of strategy, but it comes from operational perspective.
Before people can become leaders of others, they need to become strategic. In their own thinking. In their communications to others.
4 traits of people who think strategic.
They think big picture. Broader than immediate area of responsibility. Question to ask: Does their responsibility contribute directly to bigger vision of company?
Strong focus on “why.” Validating decisions against end goal. Without taking shortcuts.
Many people, including many leaders, take short-cuts. Make the easiest decision. All to look good today, versus next month. Short-term thinking versus big picture.
That’s not being strategic or a leader. People willing to take short-cuts will never be true leaders.People that are strategic, anticipate opportunities and challenges. Before they arise. People that are not strategic react. When we are interviewing we draw out candidates.
Being strategic means allocating resources. They allocate, whether it’s time, budget or energy.
What’s difference being strategic and being leader?
We can train ourselves to be strategic. We need opportunities to become leaders.
Leadership focuses on coaching people. Building morale. Identifying how to align teams.
Leaders concentrate on short-term performance. So do people who are strategic. What is difference?
Leaders concentrate how performance of their division affects overall company. How to better tie other divisions or products/services. How to do things more efficiently.
Leaders are over one or more teams, departments, etc. Part of company decisions.
People who are strategic have not had opportunities leaders have. They are anxiously waiting.
Strategic people are in the trenches. Leaders are going between trenches. Leaders need broader perspectives and viewpoints. Ability to think beyond the immediate results and goals. Beyond just their department, division, area, or region.
Traits of Strategic Leaders.
Strategic leaders, by definition are in top 1% of employees. They are involved in all aspects of company. Only the largest Hospitality companies have more than 5-10 strategic leaders.
Question we get asked often. Can a strategic leader be responsible for one area of the company? Like AI, Finance, IT, Operations, Marketing. Answer “depends.” Does position involve overall company? Sit in on major decisions affecting company outside their specific responsibilities
4 keys to strategic leadership:
1. Involved in long-term vision and planning of company. Then take it step further.
2. Anticipate how market in their industry is shifting.
3. Opportunities the shift creates or takes away. New products/services shift opens.
4. How to navigate uncertainty. To drive lasting changes to company.
7 skills strategic leaders have cultivated:
Concentration on what needs to be done next and why.
How to guide company, to new opportunities.
Lead through major transformations within company.
How things company does impacts them. Competitors. Allied industries.
Think BnB. Apartments renting out rooms in downturns. Hotels converting to government housing. New types of “packaging” not envisioned yet.
Always focus on what’s coming and how it can benefit them.
Willing to make decisions based on partial information.
Knowing they will be wrong sometimes. Be required to adapt and adjust on the fly.
Carefully consider role you are in. Then role you want. The preparation you need.
Strategic: Focusing operationally looking at next quarter or year.
Leadership: Focuses on specific area within company. Solves problems assuring area of company runs smoothly.
Strategic Leadership. Continually looks forward. Involved with all parts of company. Understands how external changes benefit or challenge company. Take immediate action to solve.
CTA-Strategic Leaders:
Where are key employees on the path?
Do they know where they are?
What steps they need going forward?
Is there time frame set?
CTA-Future Strategic Leaders
Where are you in the 3 step process.
What one trait needs most work. Tackle it, don’t worry about rest.
Where are your team members in the process? How can you help them?
Enjoying Strategic Leadership? What can we do better? What is missing? We would appreciate your perspective.
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Tom Ferree is the founder of Ferree & Associates and SecureEmploy, organizations focused on helping companies find exceptional talent and helping professionals advance their careers. Since founding Ferree & Associates in 1977, Tom has worked extensively with hospitality companies, executives, and rising leaders across the industry. Through SecureEmploy, he shares practical career strategies, leadership insights, and real-world advice to help professionals grow their careers and help organizations build stronger teams.
