Business Strategy Question:
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What is strategic thinking in business strategy?
Answer:
Strategic thinking is a MINDSET or way of thinking about a business or organization. It can be distinguished by non-strategic thinking by several characteristics:
★Focuses on long term rather than short term
★Involves systems thinking, and focusing on the big picture, NOT just the small one
★Focuses on identifying leverage (how can we use what we have to maximum advantage)
★Is both analytical and creative processes
★Involves examining assumptions, "the way things have been done around here" and a critical approach that questions what we believe.
★Takes into account that our thinking is going to be partly based on inaccurate information and/or conclusions, and treats any conclusions as tentative or hypotheses.
★Focuses on long term rather than short term
★Involves systems thinking, and focusing on the big picture, NOT just the small one
★Focuses on identifying leverage (how can we use what we have to maximum advantage)
★Is both analytical and creative processes
★Involves examining assumptions, "the way things have been done around here" and a critical approach that questions what we believe.
★Takes into account that our thinking is going to be partly based on inaccurate information and/or conclusions, and treats any conclusions as tentative or hypotheses.
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