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The Importance And Value Of Strategic Thinking

Companies these days face a lot more challenges than what they used to. Not only do they need to think about the profits they can improve, they must also give a lot of attention to the satisfaction of their customers. Add to this all the pressing economic and financial factors that businesses need to deal with. And with challenges like these, it can indeed be difficult to establish leadership in the business world these days. But difficult as it might be, it is still possible for companies to stay ahead of their competitors, especially when their executives and leaders exercise strategic thinking to develop a result based leadership.

We might well be familiar with strategic management and how it has helped a lot of companies survive amidst all the challenges they needed to face. However, there are still some of us who do not quite have a good understanding of what strategic thinking is and how it can impact a result based leadership. It is not all too different from strategic management, and in fact, it can be seen as a tool so that the different elements of strategic management can fall into place.

There are business experts who see strategic thinking as a process of focusing on finding and developing opportunities that create value, and this focus is best achieved through provocative and creative dialogues or discussions among the executives and leaders of the company or simply put, among those people who can affect the direction that the company will take. As have been mentioned, this is an input to strategic planning and management, and when done well, can uncover potential opportunities that can bring value to the company. It can also challenge the assumptions made on the value proposition of the company so that when plans are developed, the opportunities can be placed right on target.

When thinking strategically, executives and organizational leaders are able to review and evaluate the different factors that affect the performance of the company. These often include the competencies and skills of the company, its products and offerings, the environment and industry where it exists, the markets and customers it targets, its varied competitors and substitutes to what it offers, as well as its supplier and buyers.

Simply put, result based leadership can benefit much from strategic thinking, as it takes into account all the different factors that can spell success or failure to the company.

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