A strategic plan needs a clear statement of your company’s purpose, its reason for existing in the first place. Taken together, these elements are capable of creating superior value, in hard to initiate ways, that make organizations more adaptable to change. 53 0 obj <> endobj Once there is a consistent definition of strategy enterprise-wide, organizations should include strategy skills into their leadership development programs. A few days earlier, with the <> Key Elements of a Strategic Framework. A strategic framework is your road map for moving your business forward. stream 67 0 obj <>stream Dr. Liedtka says: “Strategic intent provides the focus that allows individuals within an … Implement the plan. endobj The most effective tool to develop your strategic thinking skills is that you are led by someone who is highly strategic. [ 13 0 R] x��WT�ֆ�wgTr�9�� 1�JN��DDP���A� #A ��%��d1��]s{�ӄ6̽wf�Y�X��ԩ�Z��U�j���B�P( Coined in the 1980's by Frederick W. Gluck and his McKinsey Consulting firm colleagues Stephen P. Kaufman and Steven Walleck, strategic management has four basic elements: finance-related planning, forecast-based planning and externally-focused planning. <> 11 0 obj <> endobj General leadership 5. Think of a vision statement as what your small business looks like in an ideal situation. '-O��,[�,7'opp�G� ���a\�ÿ�n ��#��B���oO����1/'�j����N>+0::v��u�5��Bb(KBT"�/ #��i�B���������m ����J�Iy��������7�n�i��3����=}�t��"���Z�5#S����4Mn�y����x�q�v�A��>�&��?�߲y����(. In order to advance in your career, you need to demonstrate them. <> ��"� Strategic thinking 2. Skills for leading at the strategic level are more complex than those for leading at the tactical and operational levels, with skills blurring at the seams between those levels. endobj You'll need to consider some key elements to build that strategy. <> It will, however, be the combination of applying design tools with a strong understanding or organisational innovation that identifies the strategic value of design thinking. 2 0 obj x�͘]k�H�� ���ϧ4*���ni�@�z�:[4��ָ4���=#���F뎫@ �G�d���zG�˝��ӥ���ѥ��rm��vtUX[l>��[3�IWY�ڬ�G��G�n�. "�η���?9�D�P(�E޾}M4PBTz��a�w��_�իW��<66��z������sg���##����6Z���":Z��ɏ�?Un�kCSAюV�����ǎf0���ָ�e���82~�����e��P(�_(vzZ���tOLX��B}��ݠ� U%5%y���^ endobj Ability to work across functions 3. [Abstract]: Leadership of organisations are currently faced by what are termed 'post normal' times. The Liedtka Model of Elements of Strategic Thinking Liedtka (1998) developed a model that defines strategic thinking as a particular way of thinking, with very specific and clearly identifiable characteristics. Thinking about Strategic Culture I 35 were formed prior to the nuclear revolution and the development of American nuclear doctrine. A mission statement is your overall, lasting formulation of why your company exists and what it hopes to be. Results of the present research indicate that the main elements of strategic thinking at the individual level include having vision, ability to analyze, having systems thinking, ability to question, creativity, ability to make synergy and ability to create advantage. �B�P( <> endobj Core financial understanding Recent research by authors Carroll and Mui underscore the importance of strategic thinking at the organizational level as well. endstream endobj startxref kv�1\M'�_�G u��q���8�3���� ������5FI�aq��1�G�����M8>�`�7�V%6 ��J? Implement the plan, and so forth. Summary. The first element is a systems perspective. 1 0 obj These steps capture the essence of the strategic thinking public relations managers use to make their organization or unit more effective. 0 9 0 obj Refine the plan. More recently, Poister and Streib (1999) added performance management —pro-viding direction and control over the work of managers and employees to ensure their efforts focused on achiev- The answer to that question helps an executive drive organizational strategy through various ways to maximize results in minimal time, maintain a bird’s-eye view of the big picture and ensure the team aligns its goals with those of the organization. By working on a strategic plan together a team can: What goal do you want your business to accomplish that seem far fetched, but can still be achieved? One of the essential elements in strategic thinking is having desired information that can help leaders in increasing their thinking beyond day-to-day. Our findings show that the most important cognitive elements of strategic thinking are creative, visionary, rule oriented and quick insight learning. A strategic thinker has a mental model of the complete system of value creation from beginning to end, and understands the interdependencies within the chain. 4 0 obj This is marked by complexity, flux and contradictions in all aspects of the operating environments within which the organisations function. Buy Copies. endobj endobj These are the five elements that make up strategic thinking as described by Dr. Jeanne M. Liedtka, a faculty member at the University of Virginia's Darden Graduate School of Business and former chief learning officer at United Technologies Corporation. Strategic thinking boils down to one simple question: What is the desired outcome? This essentially means looking at the definition of strategy and how it can be linked to leadership. endobj endobj 6 0 obj endstream 17 0 obj Format: The workshop format included a series of keynote presentations ... “Strategic Thinking in a Complex World” — Ms. T. 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In short, one may define strategic leadership as the ability of an experi- Strategic thinking is built on a systems perspective, intent driven, hypothesis driven, intelligently opportunistic (capitalizing on new possibilities as the situation changes), and involves the ability to think in time (linking past, present, and future endobj 8 0 obj endobj 13 0 obj 10 0 obj directly from strategic goals and objectives, and links be-tween strategic plans and budgets, as critical elements of the strategic management process. By Erica Olsen . Developing your strategic thinking skills isn’t enough to get you promoted. Ability to drive results 4. <>/Metadata 4447 0 R/ViewerPreferences 4448 0 R>> endobj endobj stream Plan. 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In order to understand what the strategic framework looks like in action, you need to dissect it. <>/ExtGState<>/XObject<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 612 792] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> <> It requires a holistic framework that unifies all of the different elements in an event ... strategic partnerships and conferences at the Consumer Technology Association, which produces CES, the primary strategy behind the �B�P( h�bbd``b`�)@�q?�` �����$ ��~ �M� Strategic planning is a disciplined process for making key decisions and agreeing on actions that will shape and guide what an organisation is, what it does, and why it does it. �B�P( �B���o��6<�ӛ���"%!-"(*0[pί�#0KW�ĥ�����[�_��1(0(iWR�̻w�555 ��v�( Furthermore, you need to examine the purpose of strategic leadership, as it can Figure 1 illustrates the five elements of strategic thinking. %PDF-1.7 ��3������XwWwGGGx����wtuu������~����]M ����}R���ō�z?Y6���tC}C��=�{�� Jnl`��n�d^������W�t�RpЖ�w}��!�qq;�e�d���ʠV�?B�P(9��E׋� M�`õ�Y����4�W. 7 0 obj Planning and Strategic Thinking Practitioners learn to think in terms of a formula of steps. Instead of doing what seems like the next best thing, you can stop and take the time to develop a strategy. Intent focused. This occurs via strategy formulation, strategic planning, and strategy deployment (i.e., putting it all into action). 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The authors studied 750 bankruptcies of <> endstream endobj 54 0 obj <> endobj 55 0 obj <>/ProcSet 66 0 R>>/Rotate 0/Type/Page>> endobj 56 0 obj <>stream endobj What would your company be doing if it were operating in an industry with no risks or challenges? 10. a. H������0���w�q� ��M����������flH���l�n��p3��[��R��"��P�*���q`I��p��눭RX.�ePo�O_R(�4I} ����DY��I�}�F�|, �O2yR��g�?�� [7g������Ai��`o�pB݃����q�@��ׂ�{Jm� ��73�_�c�"��[H�%I ��+YqhQ�o�îU^ў�DX��I9��� k��^Ir�gw78dih�3>�|~����H�Q���� g�4�d�ӷv�/����6��a|�Vtho^Uc�{��sRvC��Gud�r����'%��{\��ŎF��y�]���� =Ȓ�����Q�O�ݧ0�o y|]�1~���A+)zj���Z6#��8��� 58 0 obj <>/Filter/FlateDecode/ID[<58F60333B6C7074D79476795D90F03E7><37C55ED4F7C2874293063CA6458CF9CE>]/Index[53 15]/Info 52 0 R/Length 49/Prev 38107/Root 54 0 R/Size 68/Type/XRef/W[1 2 1]>>stream (These may also be referred to as stretch goals.) %%EOF A tactical thinker is sequential, focusing on one thing followed by another. Elements of a Strategic Plan A plan spells out where an organization is going over the next year or more and how it is going to get there. %���� endobj Key Elements of a Strategic Plan. �G�^��`��f���+��T�M\,j�!�\�=� �M}����B�P��>�o��3Zc. <> 12 0 obj A tactical thinker avoids complexity. Six common components include: 1) tools for analysis; 2) strategic purpose; 3) values; 4) … 18 0 obj The Strategic Thinking Framework is a good place to start when deciding on a common approach to strategy. <> 1. elements in strategic thinking, whereas students have a simplified understanding of strategic thinking, only focusing on a few elements. A strategic thinker works to make sure the right things are on the list in the first place. �B�P( Research. %PDF-1.3 %���� <> A strategic plan is a ... ate a culture of strategic thinking, so your strategic planning does not become an annual retreat but, instead, a part of daily decision making. 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