Question

Is strategic thinking enough? Why do we engage in strategic planning? Include in your discussion elements of strategic planning.

Answer 1

Strategic thinking is very important to any organization but it cannot alone make the company successful. Strategic thinking can be described as finding ways to reaching outside opportunities and challenges, being more innovative and to perform more efficiently. An organization must have senior staff and managers that have values that coincide with the strategic thinking and plans of the company or it will not be successful.

Strategic planning is the process of defining its strategy. It involves settings goals, determining action to achieve the goals. It is important because it provides a direction and outlines measurable goals. It is basically a tool helps in day to day decisions and changes approaches when moving forward. It helps in knowing where we are and where we want to go .so that the threats and opportunities can be minimized.