Strategic thinking - a practice that improves strategic planning, management, performance.

What is it about?

Strategic planning continues to be a necessary but often ineffective process for preserving and adapting competitive advantage in these volatile, unstable, complex, ambiguous (“VUCA”) times. What’s needed more than ever is strategic thinking – which should inform formal periodic processes like strategic planning, but also infuse everyday strategic management and strategic adaptation. The article defines strategic thinking, and clarifies how strategic thinking is distinct from, but highly complementary to both strategic planning and strategic management. It identifies examples of strategic and unstrategic thinking in entrepreneurial businesses and corporations, highlights barriers and provides practical guidelines for leaders to practice and amplify strategic thinking and doing throughout their enterprise, to create value, balancing entrepreneurial drive with legacy and values.

Featured Image

Photo by Nidheesh Kavalan on Unsplash

Photo by Nidheesh Kavalan on Unsplash

Why is it important?

Strategic planning alone does not improve resilience, adaptability, or performance -- but leaders can create a culture of multidimensional strategic thinking to build competitive advantage and spur innovation.