In the business world, strategy is of utmost importance. Without the right kind of strategy and without carrying out strategic plans carefully and appropriately, a business organization can easily see its failure. This is one of the reasons why business executives should take the strategic management process seriously. And you might be wondering where the whole process starts. The whole process starts with strategic thinking and this is something that everyone in the company can develop. One does not really need an MBA to start developing this kind of ability or skill. Helping people to understand this whole concept can already help them to start thinking strategically.
In this modern wold, strategic thinking has become to point more clearly towards asking critical strategic questions. And the critical strategic question should not be “what” – it is more of asking “why” or “how”. In this way, everyone in the company can have a more integrated perspective of the organization. There are varying definitions of this concept but most management and marketing experts agree that it is a distinct but interrelated and complementary thought process from different members of an organization. It seeks to sustain and support one another so their can be a more effective strategic management process.
Several experts also agree that the role of strategic concept is to seek innovation and development through coming up with new and different futures. In this way, the company can use these as bases for redefining its core strategies and, at times, even its industry. Through this concept, executives and managers can realize and support strategies that have been developed and they can be able to integrate these strategies back into the business. You might think this is pretty much similar to strategic planning but most experts agree that these are two different concepts.
Nevertheless, the strategic management process involves both strategic thought and planning. They might differ in several areas, like the vision of the future that can be developed, the process of formulating and implementing strategies, the role that managers have in strategy-making, who has control over strategies, the role of managers in implementing strategies and so on but the bottom line is both concepts can be integrated so that the process of managing strategies can be improved.
It can help to bring in a management or marketing consultant into the organization to help in making the different members understand and appreciate the concepts of strategic thinking and planning. In this way, the organization can have a more effective strategic management process, which can pretty much define its future success.