strategic thinking

How you can improve your strategic thinking

April 21st, 2021 Posted by News 0 thoughts on “How you can improve your strategic thinking”
Reading Time: 2 minutes

What is strategic thinking?

 

  • Think ahead, identify trends and devise strategies to take advantage of opportunities.
  • Understand the range of issues and variables that impact company’s success and applies these to decision making.
  • Recognize vulnerabilities and competitor threats.
  • See farther into the future.
  • Think globally.

 

To improve in strategic thinking, ask yourself:

 

  • What do we do best?
  • What could we improve?
  • How can we turn our strengths into opportunities?
  • What obstacles do we face?
  • How can I challenge current assumptions about what we do?
  • Who will be our competitors five to ten years from now?
  • How will people use our products/services in the next ten years?
  • How will new technologies affect our markets?
  • What discoveries or trends in other fields will be useful to our business?
  • How can political and economic changes affect our business?
  • When did I last take steps to turn strategic vision into reality?
  • With whom should we partner to increase our competitive advantage?

 

Train your strategic thinking

 

  • Ask your manager for feedback on your understanding of business trends and global implications
  • Work to articulate the business issues of your team. Ask others to challenge your assumptions and projections.
  • Research a key competitor, analyze their products, presente recommendations for dealing with them at a staff meeting.
  • Collect data on your customers and what their needs and requirements are. Analyze what competitors are doing in respond to customer needs.
  • Discover how different units are working and how each might benefit from solutions and technologies that overlap.
  • Develop a forecast for the business future of your team or unit. Ask for feedback.
  • Develop a strategic plan to take advantage of the global business implications of your products/services. 
  • Identify a business problem or deficiency in your unit and write a plan to solve it. 
  • Think four years ahead and identify what different industries will have moved into your markets.
  • Get involved in a cross functional group and look at the business from different points of view.
  • Challenge your strategic thinking. Ask yourself if you are maintaining a balance between futuristic thinking and present need for accomplishments.

 

 

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