1737 Leadership with Strategic Thinking Institutes Rich Horwath
b'In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks with the Founder & CEO \\xa0of Strategic Thinking Institute, Rich Horwath.\\n\\n\\n\\nRich Horwath\'s Strategic Thinking Institute is a beacon for senior leaders who aspire to think, plan, and act strategically daily. The institute\'s primary focus is to help these leaders establish a cohesive strategic direction.\\n\\nRich emphasizes the importance of a strategy scaffold, which comprises three elements: purpose (mission, vision, values), business model, and plan (goals, objectives, strategies).\\n\\nRich provided valuable insights on how leaders can determine whether they are on track with their strategy. He stressed the importance of understanding one\'s position in the market and tailoring strategies accordingly.\\n\\nHe drew a clear distinction between market leaders, who aim to defend their position and attract new customers, and challengers, who focus on converting new users and capitalizing on the weaknesses of more prominent competitors.\\n\\nRich also discussed his approach to strategic coaching and his newest book, "Strategic: The Skill to Set Direction, Create Advantage, and Achieve Executive Excellence." He emphasized the importance of customizing strategic tools for each team or business based on their specific needs and goals.\\n
Key Points from the Episode:
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- Introduction of Rich Horwath and the Strategic Thinking Institute \\n \\t
- Importance of cohesive strategic direction \\n \\t
- Elements of a strategy scaffold: purpose, business model, and plan \\n \\t
- Identifying if leaders are off track or on track with their strategy \\n \\t
- Different strategies for market leaders and challengers \\n \\t
- Organizational resistance and the need for employee buy-in \\n \\t
- Concept of organizational flow and breaking down silos \\n \\t
- Key message for leaders: setting strategic direction \\n \\t
- Customizing strategic tools for specific needs and goals \\n \\t
- Importance of ongoing strategic development and individual coaching \\n \\t
- Rich\'s books: "Strategy Man" and "Strategic" \\n
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