White paper - Essential strategic thinking models: A leadership playbook

Executive summary

This white paper by Ken Thompson outlines a practical framework for leaders and strategists by introducing eight essential models of strategic thinking. These models are mapped to seven common strategic challenges that leaders frequently face—from initial problem analysis to operational refinement. The guide serves both as a reference and a toolkit to support structured, effective strategic decision-making in a business context.

Key areas of strategic thinking

1. General strategy development
   Model: Quick start strategy
   Focuses on seven core questions that help evaluate any strategic initiative from its current state to desired outcomes, including forces for and against change.
2. Business strategy formulation
   Models: The value disciplines & five choices framework
   The value disciplines model guides organisations to choose a dominant strategic focus (e.g., product leadership, operational excellence, or customer intimacy).
   The five choices framework, drawn from Procter & Gamble’s leadership, redefines strategic formulation by focusing on where to compete, how to win, and what capabilities are needed.
3. Strategic execution
   Model: Strategic execution checklist
   A practical checklist to ensure alignment and coherence between strategy and operational implementation.
4. Strategic choices
   Model: Risk-reward-cost matrix
   Provides a structured matrix to evaluate strategic options based on cost, risk, and expected reward. Encourages analysis of the “do nothing” option as a baseline.
5. Competitive strategy
   Models: SWOT analysis & Porter’s five forces
   Traditional models used to assess internal strengths and weaknesses, and external opportunities and threats in relation to competitive dynamics.
6. Scenario planning
   Model: PESTLE analysis
   Supports long-term planning by analysing political, economic, social, technological, legal, and environmental factors to build future scenarios and resilience.
7. Enhanced operational thinking
   Model: Lens-based thinking
   Encourages leaders to adopt multiple perspectives (internal, external, and team-focused) to detect early warning signals and challenge existing assumptions.

Conclusion

The paper emphasises that these models are cognitive aids, not solutions in themselves. Their value depends on thoughtful application and thorough understanding of the organisation’s context. As succinctly put in the white paper: “A fool with a tool is still a fool.”