SALT LAKE CITY--(BUSINESS WIRE)--A number of large corporations have suffered significant downsizing and bankruptcy recently. These companies have been around for a long time, but failed to adjust their vision and strategy to survive the constantly changing market. Zenger Folkman data reveals that Strategic Vision is one of six critical competencies for any leader to possess. The key to survival is to be able to see beyond the day-to-day execution of projects.
What does strategic vision do for organizations and individuals? “It transforms insights into action,” said Joe Folkman, president of Zenger Folkman. "Organizations that excel in strategic vision have continual growth and not just a one-time unique position in the market. They are always adding value.”
In a study on over 47,000 global leaders, Zenger Folkman found the biggest single differentiator between top management and middle managers was their strategic vision. Sadly, this is a competency that most middle and lower management struggle grasping.
Zenger Folkman also discovered in a study on derailed leaders that a “lack of strategic vision” was one of the top reasons leaders are let go from a position. Some of the typical comments they received were:
- “Operations-oriented, not strategic”
- “Couldn’t lead an organization or set strategy for the future: over-reliance on narrow set of technical expertise”
- “Handled narrow roles well, but floundered in organizational navigation and setting strategic direction”
Many leaders struggle to understand how to be more strategic in their jobs. “First you need to understand your organization,” said Jack Zenger, CEO of Zenger Folkman. "Know their strategies, goals, and how they make money. Then analyze the competition and what makes them successful. Be able to articulate threats, opportunities, and link specific work goals to strategy. Many have the belief that strategic thinking is something reserved for the chosen few who are at the apex of the organization. It was Georges Clemenceau, the French Prime Minister, who is reputed to have observed, 'War is too important to be left to the generals.'”
To learn more, register for Zenger Folkman’s webinar, How to Develop Strategic Vision- 8 Critical Behaviors, on Wednesday, April 27, 2016. For more information on these findings, and how to incorporate them into a leadership development plan, visit www.zengerfolkman.com.
Zenger Folkman is the authority in strengths-based leadership development. Their award-winning programs employ research-based methods that improve organizations and turn good managers into extraordinary leaders.