strategic thinking & planning
TRANSCRIPT
STRATEGIC THINKING & PLANNING
What is Strategic Thinking?
“Strategic Thinking is a way of understanding the fundamental
drivers of a Business and rigorously (and playfully)
challenging conventional thinking about them.”
Focuses on finding and developing unique opportunities to
create value for the organization
Takes into account: Products & offerings, Markets,
Clients/Customers, Competitors, and Suppliers.
Input to strategic planning
What is Strategic Thinking?
Strategic Non-Strategic
Broad view with zoom in
Abstract with powerful
engagement of the imagination
Abstraction illustrated with
concrete examples
Important, non-intuitive,
framework breaking ideas
Embraces alternatives and
uncertainties
Aims to achieve an overarching
goal
Narrow view
Concrete with no engagement
of the imagination
Concrete illustration only
Generally understood ideas
that fit within a consensus
framework
Embraces neither alternatives
nor uncertainties
Focuses on supporting goals
What is Strategic Thinking?
The process of Strategic Thinking must ensure that business
strategies are:
Aligned: fit with business’s Mission, Vision, Competitive
Situation, and Operating Strategies
Goal-orientated: strategies’ outcomes must linked with
business’s goals
Focused: points out exactly what should be prioritized
Implementable
Benefits of Strategic Thinking
Uncovers potential opportunities for creating values
Challenges assumptions about an organization’s value
proposition
Help with understanding the fundamental drivers of a
business & challenging conventional thinking about them
Raises awareness of what needs to be done
Pre-Strategic Planning
Before commencing on Strategic Planning:
1. Understand the WHY – why you are in business in the
first place
2. Define your Vision (Vision Statement and Mission
Statement)
3. Set your Goals for the Business
4. Set your SMART objectives
Strategic Planning “Strategic planning is a structured process of thinking about
and writing down where you are, where you want to be, and
how to get there.”
Don’t get confused!
Strategic Thinking is different from Strategic Planning.
Strategic Thinking should be a continual habit,
while Strategic Planning should be a recurring
exercise.
Questions, Comments or Clarification?
Contact: Maverick Mentoring For Business
Email:
Phone: 61 3 9005 8275