This document discusses strategic thinking skills. It defines strategic thinking as a deliberate thought process that examines factors that will affect long-term success or failure of a company. Strategic thinking requires analytical skills to analyze inputs, problem solving skills to address problems, and management/planning skills to implement solutions. It is important for organizations to engage in strategic thinking to anticipate changes, opportunities, and solve problems. The document outlines different types of strategic thinking skills and provides tips for improving strategic thinking abilities.
2. What are Strategic
Thinking Skills?
Any skills that allow you to think strategically are
those that can be used to solve difficult problems
and plan for the future. These skills are crucial to
reach business goals, overcome obstacles, and
solve problems, especially if they take weeks,
months or years to achieve.
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4. “
Strategic thinking simply refers to a
deliberate and rational thought process
that examines the critical factors and
variables that will affect the long-term
success or failure of a company, team, or
individual.
5. Outline
Business priorities
Strategic thinking is the careful and deliberate
anticipation and exploitation of vulnerabilities and
threats to protect against, and opportunities to
pursue. Strategic thinking and analysis ultimately
lead to a set of goals, plans and new ideas that will
allow you to thrive in a changing, competitive
environment. This type of thinking must take into
account economic realities, market forces, as well as
available resources.
Why is it important
Any organization can be affected by the changing
competitive landscape. You may need to be able to
capitalize on new trends quickly or you could fall
behind. You will be more adept at anticipating,
forecasting and capitalizing on opportunities if you
incorporate strategic thinking into your daily life and
work routines.
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6. These skills are called strategic
thinking.
Analytical skills:
In order to create a strategy that will
help your organization achieve its
goals, you need to be able analyze
a range of inputs, including financial
statements KPIs, market
conditions, emerging trends and
internal resource allocation. It is
essential to do this initial analysis in
order to create a strategy that
matches the current reality of your
organization.
Problem solving skills:
Strategic planning can be used to
address problems such as missing
financial targets, inefficient
workflows or a new competitor. To
implement a strategy that
addresses your central problem,
you must first understand the
problem and the potential solutions.
You can then create a strategy to
solve it.
Management and planning
skills:
Strategy doesn't only involve
thinking about a solution, it also
involves the implementation of
that solution. After data analysis,
understanding of the problem,
and finding a solution, strong
planning and management skills
are required to bring it all
together.
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7. Good Communication is
Needed
Think Strategically with Resources
Strategic thinking allows you to think strategically
on an individual level. It also helps you become
more important to your company and shows that
you are capable of managing greater resources.
Communicate
Solid communication skills are essential for any
company regardless of size. Strategic thinking
requires the ability to communicate complex ideas,
collaborate and build consensus with external and
internal stakeholders.
8. Analytical Strategy, or Intuitive
Strategy?
Overview
My experience shows that there are at least two
styles of thinking managers use when developing
their strategy. Managers may prefer to think more
intuitively, while others prefer to think more
analytically.
AS or IS?
It is important to note that neither intuitive nor analytical
is the best. Each one is unique and each one is best
suited for a specific situation. Important to remember
that different personalities (as Myers Briggs will
indicate) have different personality "make-ups". Some
people are naturally intuitive while others are analytical.
To elevate one way of thinking above the other is to,
perhaps, declare a significant portion of human society
superior to another. This is something I'm not keen on.
Both styles have their strengths and weaknesses, so it
is important to recognize these. Managers may be able
to identify and combine these strengths, particularly
where they can overcome the weaknesses of each
style, and find more effective ways to address strategic
issues by combining both analytical and intuitive
thinking.
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9. How can you improve your strategic
thinking skills?
Asking Questions
Ask strategic questions - If you are looking to improve
your strategic thinking skills, it is easy to ask more
strategic questions. This will allow you to improve
your planning skills and help you spot opportunities. It
also allows you to develop a strategic mindset that
you can use throughout your career.
Mindset
A strategic mindset can be developed by self-
exploration, critical questions, and formal training,
regardless of whether it is for the long-term or short-
term.
A strategic mindset means learning how to think, not
what to think. Even though you may not always
know the answers, strategic thinking skills will allow
you to see new opportunities and address emerging
challenges.
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11. Thank you
To develop great strategic thinking skills, you need to be
exposed to various roles and have the ability to
synthesize large amounts of information. High-potential
and senior leadership development programs often
include job rotations and cross-functional projects. This
helps to accelerate the development and application of
strategic thinking.