The most popular articles of 2019 address continuous learning, responsiveness, and adaptability. Individual contributors, managers, directors and other leaders who need strategic thinking skills to gain better business insights and identify trends that can contribute to a more successful business strategy. Strategic thinking is an extremely effective and valuable tool. International journal of scientific and research publications, volume 6, issue 2, february 2016 126 issn 2250 3153. Proactive and widespread communication of your strategic. Strategic thinking is a distinct way of individual thinking which utilizes creativity and intuition and that builds an integrated perspective of the enterprise mintzberg, 1994. Mar 03, 2014 strategic learning in an organization is driven by strategic thinking 15 and is part of a learning culture.
They refer to strategic thinking as crafting strategic architecture but. Strategic thinking 25 weeks to better thinking and better living first steps to becoming a critical thinker by dr. Finally, the team executes through disciplined action. The article is focused on strategic thinking and it is analysed as a basic process in organization for future success. This article seeks to address these important issues by arguing that strategic thinking includes five elements. Wall street journal of corporate human resources and leadership. Jun 17, 2005 strategic thinking is a more comprehensive planning model that covers innovation, strategic planning and operational planning. But we will also encourage you to take responsibility and initiative for how you implement those strategies on a daytoday tactical level.
Heads, boards and strategic thinking 9 recommendations for school leaders consider several factors when identifying potential trustees. Unfortunately, in most companies the strategy resides solely in the head of the ceo. Strategic thinkers depict the future image and they have a pragmatic approach for challenges and daily issues. But how exactly should organizations accomplish this.
Role of strategic thinking in business planning business. The ideas correspond with three core activities of, firstly, understanding interrelationships, secondly, engaging with multiple perspectives, and thirdly, reflecting. The written communication, oral presentation, and contribution assessments include a strategic thinking content component that informs the assessment of the students mastery of the course learning outcomes and captured in the strategic thinking grade. Think big picture, no matter where you sit on the org chart. Demonstrating strategic thinking, on the other hand, requires that you are simultaneously a marketer, a salesperson, and a change agent. A strategic leader focuses on both the work to be done and the people doing it. To think strategically means to see and understand the bigger picture of what the organization. Take advantage of our experience and delve into this list of useful articles by graham kenny on strategy, strategic planning, performance measurement, executive compensation, corporate diversification and pricing. It is also to enable brainstorming of approaches that can help to meet the strategic intent and goals of a specific project or initiative. They help to focus on the values, vision, relationships and feel of organizational life. As management attempts to implement the strategy, the organization zigzags from event to event, lacking clear direction. Key to corporate survival, the authors explore the importance of truly understanding the nature of strategy and strategic planning. Some of the conceptual and methodological challenges associated with good strategic thinking are.
First, the term strategic thinking has become a business buzz phrase, so it can mean different things to different people. Strategic thinking deals with the analysis of opportunities and problems from a comprehensive look and considers the possible consequences of your actions on others. Strategic thinking is generally considered important to a companys performance. By understanding some of the components involved, a leader can begin to create conversations around critical issues and foster a shared understanding of who we are, where we are going, and.
Strategic thinking process decision processes international. Introduction strategy has never been more challenging, or more important, than in todays environment of global competition, in which, corporate strategies must transcend the borders of nations and markets. Over the years, large organizations have relegated strategic plans to the planning department and inadvertently created a bureaucracy. The importance of focus was clearly articulated by the noted military historian b. The litany of indictments against the types of planning processes in place at most large multinational firms is. Basil henry liddell hart, probably the foremost thinker on military strategy. Why is strategic thinking important to the success of. South african journal of economic and management sciences. Strategic thinking is vital to the sustainability of an organization and often contributes to the redevelopment or tweaking of an organizations mission statement, goals. In a true strategic thinking process, even if the only person involved is you, different perspectives will emerge.
It can, and must, happen at every level of the organization. Research article strategic thinking key for future. Strategic thinking and planning in a learning culture. Strategy refers to a general plan of action for achieving ones goals and objectives. It is in this process of choosing what not to do and who not to target as customers that the business focus emerges. For example, bailin 2002 defines critical thinking as thinking of a particular quality essentially good thinking that meets specified criteria or standards of adequacy and accuracy. Your company could have persistent operational problems that prevent it from maximizing success, so you and your employees must think critically about the root causes of problems. In contrasting strategic thinking from strategic planning, minzberg argues that both need different types of thinking. Selection of new trustees is a complex process that requires keen situational awareness, and.
If you believe that strategic thinking is only for senior executives, think again. A strategy or general plan of action might be formulated for broad, longterm, corporate goals and objectives, for more specific business unit goals and objec. Introduction to strategic leadership 3 in strategic leadership, we will help you develop that bigpicture understanding of how to guide your actions. Focused planning and strategic thinking will uncover the customer segments, market conditions, and product and service offerings that are in the best interest of your firm. In conjunction with updating our creating a strategic perspective workshop, were sharing both the structure and links to a subset of the relevant brainzooming content underpinning our strategic thinking workshops. Ask the participants to form pairs for a brief thinking activity create a triad if there is an odd number of participants. Strategic thinking for leaders impact factory london. Strategic thinking is the mental process you go through when pondering an openended question. Liedtka b ashing traditional approaches to strategic planning has become the favoured pasttime of lead ing business authors on both sides of the atlantic.
Conversely, strategic thinking focuses on intuition and creativity from an open systems. Feb 02, 2017 first, the term strategic thinking has become a business buzz phrase, so it can mean different things to different people. Jan 28, 20 strategic thinking is defined as the individuals capacity for thinking conceptually, imaginatively, systematically, and opportunistically with regard to the attainment of success in the future. It is also to enable brainstorming of approaches that can help to meet the strategic. A key distinction between strategic thinking and strategic planning is that the former occurs on a regular basis, as part of our daily. A key distinction between strategic thinking and strategic planning is that the former occurs on a regular basis, as part of our daily activities, while the latter occurs periodically quarterly, semiannually or annually.
This is an open access article under the cc bync nd license. A strategist is always looking for opportunities to win at low or, better yet, no cost. It arises from specific experiences personal, interpersonal, organizational and external which occur over 10 or more years. Selection of new trustees is a complex process that requires keen situational awareness, and decisions should be guided by the strategic plan. Strategic thinking is not the same thing as critical thinking. In many respects, it is even more important than strategic planning. We set out to be ethical at work, and we hope that in pivotal moments we will rise to the occasion. Dear reader, there is a difference between doing something and doing it well. Strategic planning is a systematic programme which develops an action plan using preidentified strategies. Strategic thinking is usually indirect and unexpected rather than headon and predictable. Strategic thinking in fast growing organizations merlin switzer executives in fast growing organizations are challenged to keep up with growth as they guide their respective organizations into the future.
Strategic thinking at the top expertise in strategic thinking is not the product of innate ability and pure serendipity. Articles on strategic planning and performance measurement. Strategic thinking extends both to the formulation and execution of strategies by business leaders and to the strategic performance of the total enterprise. On the other hand strategic thinking is a synthesized process which utilizes intuition and creativity. Strategic learning in an organization is driven by strategic thinking 15 and is part of a learning culture. It includes strategic analysis, strategic planning, organization and control and even strategic. The principles of war can be condensed into one wordconcentration. Dec 05, 2016 the shift that natalie made was conscious, pragmatic, and replicable. First, strategic thinking allows us to solve problems collaboratively and from varying perspectives. In strategic thinking, the future should be created based on todays capabilities which are the organizations. Introduction to systems thinking pegasus communications, inc.
A good strategic management online course will help you distinguish between these two in a more detailed manner. This hypothesis suggests that better, more strategic leadership can be developed by. Today, cultural thinking has to cut across cultures because as a global society, we have shifted our strategic thinking as being connected across boundaries, to the point where some even use global languages 16. In order to incorporate strategic thinking into planning processes, however, we must recognize three discrete aspects of the process. Execution planning in reality, eff ective strategic planning requires two very diff erent ongoing processes and teams if youre going to generate the kinds of results worthy of the eff ort that goes into a serious planning process. The 7 benefits of strategic planning strategic management.
Given all that strategic thinking content, its a good time to update our framework. Strategic thinking is defined as the individuals capacity for thinking conceptually, imaginatively, systematically, and opportunistically with regard to the attainment of success in the future. Scant attention has been paid in the literature, however, to describing specifically what the process of strategic thinking entails, the means through which it produces the benefits it is seen as creating, or how it can be incorporated into current planning practices. Strategic thinking is generally considered important to a companys per formance. Strategic thinking process a clear, wellarticulated strategy defines the corporate mission for those charged with carrying it out. Difference between strategic thinking and strategic planning purpose the purpose of strategic thinking is to envision or develop a solution. Its best done in a lowstress environment where you can freely think and not be easily distracted. Strategic thinking informs strategic planningmanagement. Strategic planning can produce several benefits, but there is no guarantee that it will. They do this through an ongoing process and do not consider it as an. Why strategic thinking is important strategic thinking leads to decisions that have lasting effects harrison, 1995. Instead, strategic planning is a leadership tool meant to enhance strategic thinking, acting, and learning. Strategic planning is the channeling of business insights into an action plan to achieve goals and objectives.
Difference between strategic thinking and strategic planning. Apr 26, 2017 strategic thinking is the mental process you go through when pondering an openended question. Over the years, large organizations have relegated strategic plans to the planning department and inadvertently created a. Below are five statements about strategic thinking that begin to form a foundation of thought based on current research and experience. Strategic thinking is better thought of as a style of thinking and not confused with organizational techniques or processes e. Strategic thinking is characterized by an allpervasive unwillingness to expend resources. Strategic surprisingly, here there is ready agreement. Strategic thinking also encourages you to take a long view of your companys business model and operations. The shift that natalie made was conscious, pragmatic, and replicable. Unlike the additional work that is created by the process of strategic planning, we can.
Purpose the purpose of strategic thinking is to envision or develop a solution. These sentiments are echoed by two other leading theorists in the field, prahalad and hamel 1989, who describe traditional approaches to planning as form filling. This article focuses on case studies of four executives in fast growing organizations who use strategic thinking and, to a lesser extent. And a strategic leader responds thoughtfully and appropriately to the. This is an open access article under the cc byncnd license. Perceptions from management graduates and students. The substantive content of the article appears as originally published.
Strategic planningmanagement gives voice, action and structure to strategic thinking. Strategic thinking is a thinking in the organization that links the past, present and future to each other. In working with our clients, we find that most have a relatively strong understanding and appreciation for the value of strategic planningmanagement. Strategy is also a bridge between the present current situation and future ideal situation. Her story exemplifies a hypothesis about the way people become effective leaders of large organizations, especially at times of turmoil and change.
Strategic thinking is a process that defines the manner in which people think about, assess, view, and create the future for themselves and others. Critical strategic thinking skills center for simplified. Articles take advantage of our experience and delve into this list of useful articles by graham kenny on strategy, strategic planning, performance measurement, executive compensation, corporate diversification and pricing. Past studies on the subject have been limited, typically focusing on singular teaching methods, experiences or planning processes.
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