While the need for and benefits of critical thinking is clear, there’s another aspect to these skills that companies often don’t address. A strategic plan formalizes the school district’s mission, vision, values, goals, and objectives. Values are enduring, passionate, and distinctive core beliefs, and they’re an essential part of developing your strategy. We’ve seen this play out time and time again. This requires more strategic thinking at all levels or organizations to be successful,” Weed stresses. 5 Reasons Why You Need Strategic Thinking On All Levels Of Your Organisation. This insight early on helps the team develop a more targeted strategic plan and builds community support. Aside from keeping your company on an even keel, mastering the art of strategic thinking maximises your efficiency and strengths as a business leader. The 3 Best Ways to Avoid Bad Decisions Caused by Groupthink, 5 global trends that could influence your business in 2021, 5 economic trends that will influence your business in 2019, 5 Wirtschaftstrends die Ihr Geschäft im Jahr 2019 beeinflussen, 5 Signs Indicating You Need Strategy Coaching, 5 Common Strategic Planning Mistakes SMEs Should Avoid. This article is excerpted, with permission of the publisher, from Now, Build a Great Business: 7 Ways to Maximize Your Profits in Any Market by Mark Thompson and Brian Tracy. However, in most cases executives are not at the touchpoints, but rather normal employees, like salespeople or customer service staff. In many companies this doesn’t work properly, with the result that the board is every year surprised why the employees don’t properly execute their ingenious corporate strategy. The previous experien… Employees, on the other hand, are frustrated by decisions, which are frequently decoupled from their reality at the operational level. Leaders need to also shift with these changes—or run … Centrally-managed hierarchical companies bring considerable costs due to efficiency losses. Many successful companies, like for example Alphabet (formerly know as Google) or Lego, have discovered how important it is to create and sustain agile organisational structures. They are the beliefs that guide the conduct, activities and goals of your organization. When you subscribe to our blog and become a CMOE Insider. Here are three of many reasons: 1)Provides a focus. To take the example of looking for a place to situate your new business, don’t just go with your gut. Why Critical Thinking Is Important: Take the Next Step. Part of the strategic planning process involves engaging the community and other stakeholders in feedback sessions. Below are three additional benefits that result when strategic thinking guides and informs the decisions of you and your team: 1. Why Critical Thinking Is Important: Take the Next Step. And it is wrong in today’s business environment. Values ar… Create Cross-disciplinary and Innovative Teams Analytical thinking skills are critical in the work place because they help you to gather information, articulate, visualize and solve complex problems. Even with comprehensive training, there will be many times where you will be put on the spot to think analytically and the right or wrong answer could make a difference with regard to […] Business people can become more proficient at strategic thinking skills through using strategic thinking exercises and tools. It is an important task involving all the basic management functions—planning, organizing, leading, and controlling. It helps you think logically and take the most direct route towards achieving your objective. By improving the quality of both your decisions and your thoughts, critical thinking can significantly improve your life, both personally and professionally. In comparison, leaders who are less attentive to the world around them or consumed by their daily demands are more susceptible to being caught off guard by unwelcome surprises, and they often miss windows of opportunity that open up. Many of these new developments will be first registered at the touchpoints, where company and customers come into contact. Where do we want to take the business? It also does the following: Helps build your competitive advantage Communicates your strategy to staff Promotes Curiosity . And it is wrong in today’s business environment. That’s why we don’t buy it when someone says he or she isn’t strategic. Why do we need strategic thinking? Organization-wide goals are annual statements that are specific, measurable, attainable, responsible and time bound. strategic thinking is closely related to the ability to anticipate and have a long-term vision in order to understand the upcoming changes and challenges in the business, and subsequently be able to advise the organization the most successful pathway to take. Different people are interested in different aspects of the big picture. Without gathering this intelligence, it is difficult to know where you are headed and what you may face along the way. However, an agile organisation can only function with employees who think strategically. It’s important that those decisions are made in a rational, level-headed state of mind, weighing all the options fairly. For a profit-making business, this process involves many questions: What’s the mission and purpose of the business? Only if you consider the big picture in your operational work, the gap between corporate strategy on executive level and strategy implementation on the operational level can be closed. How can we improve our position? They work hard to stay informed and tap into valuable sources of information that give them clues about where they need to go and what they need to avoid. Some competitive secrets (for example, about products under development) may need to remain hidden, but employees need a broad base of information if they are to become strategic leaders. This might sound basic to be the key to something so important, because, after all, observation is something you use daily as a research method. Critical Thinking: Its Importance and Ways to Develop It. Good risk management is also important to help you avoid things going wrong, and manage when they do. Critical Thinking is a domain-general thinking skill. Because the work processes were designed in a way that it was not desirable and necessary. People often approach a problem with a preconceived solution in mind. Project management and project planning are also helpful skills for both managers and leaders. When the full picture comes into view, people are better able to plan for the future, and planning for the future is the mark of a strategic leader. Focus on developing the skills that … The successful application of critical thinking often results in more efficient work processes. Being a strategic thinker requires you to see the bigger picture. Only through agility can enterprise respond appropriately to fast changes caused by innovative technologies, changed customer needs, and new competitors. Most importantly, they seek to understand the strategic direction and priorities of the business. Start a conversation about the things influencing your operation and get as many insights as you can. 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