What is Strategic Thinking?

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Definition of strategic thinking, and why it is so relevant today

Transcript

Okay, we're going to section two strategic thinking. What is strategic thinking? Well, strategic thinking it's simple. You can look at the two words strategic means of high value, high impact, often long term and often very essential for success. So thinking out of the box thinking with high views on on what might happen in five years, what's the competition doing? That's all strategic is not they today is not operational is not task is the big picture.

So that's strategic. And then thinking is about generating new ideas, analyzing the market, understanding what the customers are looking for, and then making some synthesis so that you can combine them some strategic thinking is one of the most valuable skills for individuals, especially after you heard what I told you when I was setting the scene. The words is changing so fast that we need to be all much more strategic thinkers than in the past. So strategic thinking big picture, and then looking at options. A very simple approach to look at this is look at the market, look at the environment, understand the environment and what's happening, what's the big changes in drivers? That's step one.

Step two is what are the options? What can you do in that scenario? What what are the different alternatives which you could see don't don't judge them. Don't Don't take decisions at that level. But just look at options. It's a bit of brainstorming.

Third step is about assessing the three or four options that you came across in that environment. Look at processing cons, make a list, very simple. And then once you have the pros and cons of the scenarios, take a decision is very important to decide. And we'll see that later. decide which ones you will not done or do which ones you will not do Then the one you really want to focus put your time, invest your your money, your resources, your team, and that's about the whole process of strategic thinking. We're going to look at the next steps later on

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