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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.
Strategic planning became prominent in corporations during the 1960s and remains an important aspect of strategic management. It is executed by strategic planners or strategists, who involve many parties and research sources in their analysis of the organization and its relationship to the environment in which it competes. [1]
3. Better Productivity. Project management is important because it ensures there’s a proper plan that outlines a clear focus and objectives to allow the team to execute on strategic goals.
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of resources and an assessment of the internal and external environments in which the organization operates.
In this model, strategy is both planned and emergent, dynamic, and interactive. Five general processes interact. They are strategic intention, the organization's response to emergent environmental issues, the dynamics of the actions of individuals within the organization, the alignment of action with strategic intent, and strategic learning.
The purpose of articulating the strategy is to translate the strategy into a form where managers and stakeholders agree consensually on what needs to be achieved [4] [8]. The strategy articulation will describe the strategic outcomes to be achieved, preferably expressed in the form of quantitative or qualitative goals. [9]
Strategic planning always includes analysis, but it may or may not involve serious foresight on the way to developing a plan, or taking an action. A consideration of possible futures (alternative futures) and of probable futures (forecasts, predictions) is important to developing a preferred future (plan), even the simple mental plans made ...
The intent is to illustrate the hierarchical structure and relationship of events, accomplishments, criteria, and tasks. In the United States Department of Defense , the Integrated Master Plan ( IMP ) and the Integrated Master Schedule (IMS) are important program management tools that provide significant assistance in the planning and ...