Business Analysis Essays

Submitted By srobinson68
Words: 476
Pages: 2

Conventional Strategic Planning, Strategic Intent and Skill-based Strategic Thinking
Stephanie Robinson
Walden University

Conventional strategic planning is define as tend to be oriented toward looking at problems based on current understanding, or an inside-out mind set. Strategic plan is essentially a plan or guide created by a business or organization to map out how it will reach goals, and set a foundation so the entire company knows what will happen and what is expected of them. This guide or plan can also serve as a systematic, management tool for problem solving, market planning, product development and preparing business plans. Strategic intent is define as a readily grasped declaration of the course that the management of a business plans on taking the company in over some future time frame. The strategic intent of a business needs to be easily understood by every member of the firm so that all staff can be working toward a consistent overall goal (www.businessdictionary.com ). Skill-based strategic thinking is defined as a process in which you develop a vision for your business and then work backwards to develop a plan to accomplish that vision. Without vision, a business will have no direction, but it's impossible to achieve a vision without a strategy. Strategic thinking involves developing skills in creativity, problem solving, teamwork, critical thinking and flexibility. Strategic thinkers are able to see the big picture, as well as how to attain it. Conventional strategic planning, strategic intent and skill-based thinking in comparison are all need management. They all play a role in strategic management. Each helps a manager in decision making, analyzing and actions in an organization undertakes in order to create and sustain competitive advantages. In the article “Value innovation: a leap into the blue ocean” the author talks about how blue ocean assist…