Compare and contrast conventional strategic planning concepts with those of strategic intent and skill based strategic thinking. Explain how the differences in these concepts can lead to better business strategy practice. Strategic Planning is a necessary process that must occur for any organization to thrive and prosper. Strategic planning provides a roadmap for the organization to follow in achieving its goals. Conventional strategic plans does not account for change or learning new things. In this type of planning change becomes the enemy. This could cause problems for a business or eventually failure of a business. http://www.studymode.com/subjects/conventional-strategic-planning-concepts-vs-strategic-intent-thinking-page1.html Strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways.
In this McKinsey Award–winning article, Hamel and Prahalad describe four techniques that Japanese companies use: building layers of advantage, searching for “loose bricks,” changing the terms of engagement, and competing through collaboration. http://hbr.org/2005/07/strategic-intent/ar/1 Western companies focus on trimming their ambitions to match resources and, as a result, search only for advantages they can sustain. By contrast, Japanese corporations leverage resources by accelerating the pace of organizational learning and try to attain seemingly impossible goals. These firms foster the desire to succeed among their employees and maintain it by spreading the vision of global leadership. This strategic intent usually incorporates stretch targets, which force companies to compete in innovative ways. http://hbr.org/2005/07/strategic-intent/ar/1
The Business plan on Strategic Financial Planning
Financial planning is the task of determining how a business will afford to achieve its strategic goals and objectives. Usually, a company creates a Financial Plan immediately after the vision and behavior have been set. The Financial Plan describes each of the activities, resources, equipment and materials that are needed to achieve these objectives, as well as the timeframes involved. The ...
1. Strategic thinking takes a holistic or systems view
Strategic thinking requires an orientation to the whole, rather than a focus on just part of the whole. The possible techniques which deliberately foster this attribute are: various kinds of stakeholder mapping, any value system analysis, and conferences which focus on building the future, whatever the exact method adopted.
2. Strategic thinking focuses on intent
Strategic thinking involves purpose – it is not aimless, but has a definite
