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Strategic thinking is a mental or thinking process applied by individuals and within organizations in the context of achieving a goal or set of goals.. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization.
Porter's four corners model is a predictive tool designed by Michael Porter that helps in determining a competitor's course of action. Unlike other predictive models which predominantly rely on a firm's current strategy and capabilities to determine future strategy, Porter's model additionally calls for an understanding of what motivates the competitor.
The output of strategic planning includes documentation and communication describing the organization's strategy and how it should be implemented, sometimes referred to as the strategic plan. [10] The strategy may include a diagnosis of the competitive situation, a guiding policy for achieving the organization's goals, and specific action plans ...
Another example would be that we can think of the war in Iraq differently by reflecting off the concepts of oil security, Imperialism, aggressive capitalism, liberation, or democracy. The concept-driven approach to strategy formulation involves setting and using a set of linguistic pragmatic concepts.
Strategic planning is a means of administering the formulation and implementation of strategy. Strategic planning is analytical in nature and refers to formalized procedures to produce the data and analyses used as inputs for strategic thinking, which synthesizes the data resulting in the strategy. Strategic planning may also refer to control ...
Miles and Snow identify three types of competitive strategies, those adopted by defender, analyzer and prospector types of organization, and a fourth, non-strategic type of organization, whose competitive behaviour is reactive to the perceived environmental conditions within which it operates. [2]
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Thinking Strategically: The Competitive Edge in Business, Politics, and Everyday Life is a non-fiction book by Indian-American economist Avinash Dixit and Barry Nalebuff, a professor of economics and management at Yale School of Management. The text was initially published by W. W. Norton & Company on February 1, 1991. [1]