Perhaps all of you must have experienced the tension of dealing with the urgency of today yet knowing that we must keep an eye on the horizon in this fast changing global economy. What opportunities or challenges lie on the horizon?
Have you ever faced problems dealing with limited resources of man, money and time? Have you ever thought about how will the business be affected with changing global economy? What are the competitive threats that will arise at local as well as international level? Have you been under constant pressure to grow as an organization? What is a solution to such problems? How can we manage them effectively? Answer to the problem is Strategic Thinking. Strategic thinking is the tool that the leaders of today should employ to balance the tension of the moment with the worry of the future. It should be central element of management philosophy and should be an ongoing process it cannot be episodic.
Strategic Thinking is a planning process that applies innovation, strategic planning and operational planning to develop business strategies that have a greater chance for success.
The purpose of Strategic Thinking is to create a strategy that is a consistent and integrated framework for decisions especially about direction of the business and resource utilization.
Following are some insights on strategic thinking:
For this strategic change to be successful it is important for every employee in the organization to fully incorporate the change in everything they do. This can be done by establishing vision and mission that will ensure that the organization is successful in achieving its strategic goals.
So let us engage employees at each level to contribute to the strategic plan so that departmental strategies link to the overall corporate strategic plan. Let us strive to make strategic thinking an ongoing, year-round process to anticipate major shifts in the competitive marketplace and identify emerging opportunities.
Written and Published By: Faber Mayuri Pandya
Mayuri Pandya is Head Research & Analytics and one of the core members of Faber Infinite Consulting,with operations in Asia Pacific,Africa & Middle East. She holds a masters degree in Marketing Management with her 1st degree being in IT Engineering