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How to Develop SMART Objectives and Implementation Programs
SMART objectives plus the ability to develop a strategic action plan is the third critical skill for strategic thinking. Set SMART objectives and know how you will implement them. Break down each objective into tasks and make a list of needed resources and a specific timeline for each task . When we say “SMART objectives […]
Continue readingA Clear Focused Vision and Strategic Thinking
A clear, focused vision is a critical skill for strategic thinking. There are three key benefits to having a clearly defined and focused vision. 1. A good vision will draw you forward, and define the larger undertaking that drives your activities. Think about the difference between NASA in the 1960s, when they – and the […]
Continue readingWhole Brain Thinking Is One of the Critical Strategic Thinking Skills
The ability to analyze issues using both “left brained” and “right brained” thinking is critical to really great strategic thinking. In business, many of us have a tendency to lean on one or the other type of thinking. Truly strategic thinking, however, involves a more holistic understanding of situations. This is at least partly because […]
Continue readingHow to Think Strategically Beyond Profits
One of the big issues we run into in strategic planning is the overwhelming pressure to maximize profits. I’m not saying profit is a bad thing. Profit is, after all, what attracts investors and often, good management. In our society, it’s accepted that the primary responsibility of the company and its management is to optimize […]
Continue readingIndustry Ecosystems
“Ecosystem” is a funny word to use when talking about strategy. Historically, the term has been used to talk about natural ecosystems. So how can we use that understanding for a better sense of how our strategy can work? In nature, one of the key concepts we can use to understand ecosystems is a dynamic […]
Continue readingWhy We Aren’t Bold
Pursuing a competitive advantage strategy One of the biggest struggles in strategy is pushing a bold, distinctive identity for your company and brand. This is so common that we start the strategic planning process assuming that we haven’t pushed the envelope. We need solid reasons to venture out into (sometimes uncomfortable) new territory. There are […]
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