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Strategic thinking

Strategic thinking. All strategy starts with strategic thinking. Strategic Management = strategic thinking + strategic planning. Porter (1987): “There are no substitutes for strategic thinking.

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Strategic thinking

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  1. Strategic thinking

  2. All strategy starts with strategic thinking

  3. Strategic Management = strategic thinking + strategic planning

  4. Porter (1987): “There are no substitutes for strategic thinking. Improving quality is meaningless without knowing what kind of quality is relevant in competitive terms. Nurturing corporate culture is useless unless the culture is aligned with the company's approach to competing.”

  5. Garratt (1995) defines strategic thinking as … A process by which senior executives can rise above the daily managerial processes and crises to gain a different perspective of the organization and its changing environments.

  6. Strategic thinking involves asking two critical questions … • First, what is the structure of your industry, and how is it likely to evolve over time? . . . • Second, what is your own company’s relative position in the industry? (Porter, 1991)

  7. Elementsofstrategicthinking

  8. A number of writers have talked about the dictation between strategic thinking and strategic planning.

  9. Strategic Thinking and Panning are analogous to Right brain and left brain

  10. The purpose of strategic thinking is to discover novel, imaginative strategies which can re-write the rules of the competitive game and to envision potential futures significantly different from the present Thought process: Synthetic Divergent Creative Strategic management The purpose of strategic planning is to operationalize the strategies developed through strategic thinking, and to support the strategic thinking process Thought process: Analytical Convergent Conventional Strategic planning Strategic thinking

  11. Strategic Thinking and Planning Strategic thinking Synthetic Divergent Creative Intuitive Innovative Role of strategic planning:to realize and support strategies developed through strategic thinking process and integrate these back into the business Role of strategic thinking:to seek innovation and imagine new and very different futures that may lead a company to redefine its core strategies and even its industry Strategic Management Logical Systematic Conventional Prescriptive Convergent Strategic planning

  12. Heracleous (1998) made a distinction between strategic thinking and planning by an analogy to single-loop learning and double-loop learning.

  13. Actions Feedback Environment o Single-loop learning: Adapting or adjusting as usual, without critically re-examining guiding assumptions (O denotes Organization) Environment Critical thinking Actions Feedback o Double-loop learning: Enlightened, creative action with results from critical re-examination of guiding assumptions (O denotes Organization)

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