If you’re working on your company’s strategy, you’ll need to engage in analysis, problem-solving, decision making, and leading through change.Īs you create a strategic direction or plan, you’ll analyze: What are the Components of Strategic Thinking?
#SECDEF STRATEGIC THINKERS PROGRAM HOW TO#
They must decide how to best structure enroll others to achieve important objectives and to avoid putting resources at unnecessary risk of loss. What is Strategic Thinking in Leadership?īusiness leaders and stakeholders use strategic thinking and analysis to decide what product mix they’ll offer, what competitive landscape to compete in (or not compete in), and how limited resources will be allocated such as time, employees, and capital.
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Leadership teams should periodically examine their strategic initiatives to ensure execution is taking place, review, and sustain the effort across the organization. Leaders then choose and plan specific actions that will accomplish these strategic initiatives.īusinesses also need to schedule a time for strategic thinking and reviews throughout the year. This document will guide the company into the future for a defined period of time.
What is Strategic Thinking in Business?ĭuring an organization’s annual strategic planning process, leaders often compile, analyze, and synthesize external and internal data and ideas to develop its strategic intent and build a strategic narrative. On an individual level, thinking strategically allows you to make a greater contribution in your role, become more essential to your organization, and prove that you’re ready to control greater resources. By incorporating everyday strategic thinking into your work and life routines, you will become more skilled at anticipating, forecasting, and capitalizing on opportunities. New trends may emerge quickly and require you to take advantage of them or fall behind. The competitive landscape can change quickly for any organization. Strategic thinking requires research, analytical thinking, innovation, problem-solving skills, communication and leadership skills, and decisiveness. This sort of thinking must account for economic realities, market forces, and available resources. Ultimately strategic thinking and analysis lead to a clear set of goals, plans, and new ideas required to survive and thrive in a competitive, changing environment. Strategic thinking includes careful and deliberate anticipation of threats and vulnerabilities to guard against and opportunities to pursue. Strategic thinking is simply an intentional and rational thought process that focuses on the analysis of critical factors and variables that will influence the long-term success of a business, a team, or an individual.
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