The Strategy Paradox

Over 90% of executives say that “strategic thinking” is the most important part of their job. Most don’t make time to do it.

This is a paradox, and our new research sheds light on the issue.

For the last few months, we’ve had a short survey in the field asking leaders how they spend their time. Although our sample size is too small to generalize, here’s what we know so far:

• Everyone (95%) considers it part of their job to think strategically. This shouldn’t surprise us: the people in our networks who have taken this survey are CEOs and leaders who are expected to develop and execute strategic plans.
  

But then the data gets more interesting.

• Over two-thirds of respondents (68%) admit that immediate, tactical issues take up the largest share of their reading for work.

• Only 17% spend most of their time learning about changes in their industry and 7% on emerging issues beyond their industry.

In rank order, respondents’ most time is spent as follows:

1. Task-focused, e.g., email, agendas, prep for the next meeting (68%)

2. Industry-focused, e.g., industry news and insights. (17%)

3. Professional development to improve my performance or effectiveness (7%)

4. Emerging issues outside my industry that could impact my industry or organization (7%)

• Over three-fourths of respondents (76%) spend 90 minutes or less per month talking to their teams about long-term (beyond 2025) issues. FYI: spending 30-90 minutes per month equates to 1.5-4.5 minutes per day.

• What would respondents give up to have more time for futures-focused work? Meetings (61%), Emails (46%), and Commuting (32%).

This is the strategy paradox: those who are paid to think strategically do it for only 1.5 to 4.5 minutes per day. Is it any wonder that we’re caught flat-footed when things change?

So what?

What would have to change - within you or your organization - to give leaders more time to think strategically about the future? Here are some techniques popular with our team.

• Greg McKeown’s Essentialism - to focus on the “vital few” and do less, better.

• Cal Newport’s Deep Work - to make time for what really matters; and A World Without Email - to consider systems and work cultures that enable deep work.

• One hour each week for Signals and Sensemaking with a small team. This will help you develop a futurist’s mindset and flex your foresight muscles.

What about you?

• Find out how you rank compared to others by taking the survey.

• Let us know what techniques you use to make time for strategy.