Ep 71, Strategy Success: How to Communicate Your Gameplan | Summary and Q&A

TL;DR

Strategic communication is crucial to success in business and life. Strategy involves securing an organization's economic prosperity, while planning focuses on the order of operations. Leaders often underestimate the role of strategy and believe it is not their job, leading to misconceptions and mistakes.

Key Insights

• ❓ Strategy involves securing an organization's economic prosperity and allocating resources effectively.
• ❓ Many leaders underestimate the importance of strategy and believe it is not their responsibility.
• ❓ Strategy should involve constructive arguments and engagement with others.
• 🖐️ Communication plays a crucial role in strategy by enabling debates, empowering employees, and facilitating adaptation.
• 🧑‍🏭 Planning is focused on the sequence of tasks, while strategy involves engaging with other actors and adapting to changing circumstances.
• 😒 Effective communication of strategy involves clear logic, consideration of the audience's perspective, and the use of various communication styles.
• 🌱 Strategy should be seen as a continuous process of adaptation and revision, rather than a fixed plan.

Transcript

I passionately believe that strategic communication is critical to success in business and in life. But we must also think about strategy and how we communicate that. Many of us focus on our day to day work on just the tasks we need to complete and executing them well. Taking time to reflect on strategy in our organizations and our own life can hel... Read More

Questions & Answers

Q: How does strategy differ from planning?

Strategy is about securing an organization's economic prosperity and allocating resources, while planning focuses on the sequence of tasks. Strategy involves engaging with other actors and is more complex than planning.

Q: What are some misconceptions about strategy held by leaders?

Many leaders believe that strategy is not their job and see it as a top-down dictation. They may also view strategy as a one-time plan rather than a continuous process of adaptation.

Q: Why is communication important in strategy?

Communication enables constructive arguments and debates, allowing leaders to tap into employees' insights and adapt strategies. It is also crucial for explaining the reasoning behind the strategy, empowering and delegating tasks effectively.

Q: What makes a good strategy story?

A good strategy story should have a clear narrative and logical coherence, with assumptions that lead to a convincing conclusion. It should inspire and resonate with the audience while being adaptable to changing circumstances.

Summary

In this podcast episode, Matt Abrahams interviews Jesper Sorensen, a professor of organizational behavior at the Stanford Graduate School of Business. They discuss the importance of strategy in organizations, the misconceptions about strategy, and the role of communication in strategic leadership.

Questions & Answers

Q: How does Jesper define strategy and differentiate it from planning?

Jesper explains that strategy is about securing an organization's economic prosperity and explaining how to maximize profits or allocate resources. Planning, on the other hand, focuses on the sequence of tasks and actions needed to achieve specific goals. Strategy is more complex because it involves engaging with external factors and actors that are beyond one's control.

Q: What are some common mistakes or misconceptions about strategy?

One common misconception is that strategy is not the responsibility of all managers or leaders. Many people believe that strategy is something dictated from the top and they are just focused on execution. However, Jesper emphasizes that strategy is inherent in every role within an organization and everyone should be engaged in strategic thinking. Another misconception is viewing strategy as a one-time plan that doesn't need to adapt to changing circumstances. Jesper highlights the importance of continuous evaluation and adaptation in strategic decision-making.

Q: Why does Jesper argue that leaders should focus on building a strategy?

Jesper believes that strategy is essential for building great organizations and effecting large-scale change. Leaders need to allocate their time and resources effectively to achieve the organization's goals. By actively participating in strategic decision-making, leaders empower themselves and contribute to the success of the organization.

Q: How does communication play a role in strategy, according to Jesper?

Jesper explains that communication is crucial in strategy for two reasons. Firstly, effective communication enables constructive arguments and debates within the organization, leading to better decision-making. Listening to different perspectives and engaging in respectful discussions helps refine strategies and identify potential weaknesses or opportunities. Secondly, communication is essential in delegating tasks and empowering others. Leaders need to clearly communicate the rationale and logic behind their strategic decisions to gain trust and alignment from their teams.

Q: What does Jesper mean by "strategy arguments" and how can they help organizations?

Jesper defines strategy arguments as a set of assumptions leading to a conclusion about the investments and activities required to create and capture economic value. Strategy arguments serve as a framework for analyzing the connection between actions and outcomes, enabling sophisticated discussions about what is working and what needs improvement. By presenting strategies as arguments, organizations can foster constructive debates and enhance their understanding of the logic behind strategic decisions.

Q: How does storytelling factor into strategy communication?

Jesper believes that a good strategy story should have a clear narrative and logical coherence. By aligning strategy with storytelling principles, leaders can effectively communicate their strategies and make them more engaging and memorable. Storytelling helps package the strategy in a way that motivates people, facilitates better decision-making, and fosters alignment throughout the organization.

Q: How can leaders use storytelling to motivate people to align with the strategy?

Jesper suggests that leaders should communicate their strategies through storytelling, using the power of narratives to engage and inspire others. By clarifying the logic and rationale behind the strategy, leaders can help people understand the vision and goals of the organization. Sharing stories and conveying the reasoning and outcomes of strategic decisions can motivate and align individuals, increasing commitment and driving collective action.

Q: How can nonverbal communication contribute to effective communication?

Jesper highlights the importance of nonverbal communication in strategy. Being aware of nonverbal cues, such as body language and tone of voice, is crucial for effective communication. Nonverbal communication helps convey emotions, intentions, and authenticity, enabling leaders to connect with their audience on a deeper level. Nonverbal cues also facilitate feedback and productive disagreements, as they allow for a better understanding of different perspectives.

Q: According to Jesper, what are the key ingredients for successful communication?

Jesper emphasizes three key ingredients for successful communication. First, clarity of logic is essential, as it ensures clear thinking and effective writing or speaking. Second, considering the audience's perspective and anticipating their interpretation of the message is crucial for effective communication. Finally, Jesper advises individuals to be all parts of themselves, leveraging different communication styles and characters depending on the situation. Bringing one's whole self to communication allows for authenticity and relatability.

Q: How does Jesper view strategy as a collaborative process?

Jesper believes that strategy is both top-down and bottom-up in nature. While leaders provide strategic direction, they should also actively listen to frontline workers and managers who may offer valuable insights and suggestions. Strategy should involve constructive debates and discussions, incorporating diverse perspectives to enhance decision-making. By embracing collaboration and valuing input from all levels of the organization, leaders can create stronger and more adaptive strategies.

Takeaways

Strategic communication plays a pivotal role in organizational success. Strategy should be seen as a continuous process that involves everyone within the organization, rather than a directive from the top. Misconceptions about strategy can hinder effective decision-making, so it is important to clarify its definition and purpose. By viewing strategy as an argument and crafting strategy stories, organizations can facilitate constructive debates, motivate alignment, and enhance decision-making. Effective communication involves clarity of logic, understanding the audience's perspective, and leveraging diverse communication styles. Ultimately, strategy and communication go hand in hand, requiring continuous adaptation and collaboration to achieve organizational goals.

Summary & Key Takeaways

• Strategy is about explaining how to secure an organization's economic prosperity and allocate resources effectively, while planning focuses on the sequence of tasks to execute.

• Common misconceptions include the belief that strategy is not a leader's responsibility and that it is a set plan that rarely changes.

• Strategy should involve constructive arguments and engagement with others, as well as the ability to adapt and revise assumptions based on changing circumstances.