Strategic thinkers practice the ability to reframe their perspective to look at systems, processes and markets in a unique way.

Pattern recognition. Strategic thinkers must be trend spotters, able to recognize patterns that emerge in social, political, economic and technological change. This ability to “connect the dots” among seemingly unrelated trends, think through the implications for the business, and react quickly and appropriately is essential to strategic thinking.

Seeing risk. A key component of strategic thinking is the ability to take a clear-eyed, realistic view of an organization’s risk profile. Strategic thinkers have a constant, restless sense of low-level paranoia that drives them constantly to test their assumptions and beliefs about the risk of the business.

Creating purpose. One less-frequently mentioned ability of strategic thinking is the capacity to create a unifying sense of purpose in an organization. Purpose adds depth, richness and direction to strategic action.

Innovation. The fragmented nature of the construction industry and a generally shared belief that construction is fundamentally a tactical business limit the infusion of innovation as a competitive advantage. Strategic thinkers practice the ability to reframe their perspective to look at systems, processes and markets in a unique way.

Developing sound strategy requires a firm understanding of the context in which the company operates. One of the first steps is to prepare the background information to define your company’s environment. Before you can understand where opportunity exists, you must fully understand the 4Cs of context:

The 4Cs of Context:

• Climate: All the external factors and forces that influence your business, e.g., economic forecasts, surety capacity, commodity prices, politics, demographics.

• Customer/Market: Everything about customers, e.g., changes in buying behavior, unmet needs, drivers of their business and industry.