Question

This week’s materials focus on Strategic Thinking. This type of thinking employs the principles of Vision, Values and Mission.

Answer 1

Strategic thinking is that thinking process that leads to development of new ideas while pursuing a course of action within an organization. Strategic thinking entails critical thinking and creative thinking and requires sharp and in-depth business knowledge, insights and experience on the part of the managers. In other words strategic thinking is the ability of the managers to develop and implement effective plans that are in line with the goals and objectives of an organization in the context of the prevailing economic situation.

Strategic thinking takes into consideration the principles of vision, values and mission of an organization. Vision of an organization is the future oriented purpose and aspiration of an organization. Vision is what the company wants to be and what the company wants to achieve in the future. Values of an organization are its beliefs and guiding principles. Mission is an organization’s reason for being and purpose for being.

Strategic thinking involves development of strategy and the strategy flows directly from an organization’s vision. A strategy is intended to achieve the vision of an organization and in turn satisfy the mission of the organization. Strategic thinking takes into account vision, values and mission of an organization while developing its business model and course of action so that the purpose of the organization is upheld and the organization is able to develop measurable goals and objectives that are synchronized with the mission, vision and values of the organization.