Ever wondered what sets successful entrepreneurial or business people apart from the average workforce? Why are some people proud to be dubbed “Business Man or Woman”? Strategic thinking. What is Strategic Business Thinking?
It can be simply defined as a plan for running your business. It is thinking out a set of activities and processes including planning how to run operations through innovation so as to strategically outmanoeuvre competitors. To analyse information and use skills to make effective decisions, make for a successful strategic business man/woman.
Strategic Business Thinking primarily is done to determine what should be done and why. It is seen as setting strategic goals and objectives and determines how they will be met through using resources.
Elmarie Pretorius, from The Mindspa – a soft skills training company, explains that strategic thinking in your business is important because it provides an integrated framework to be followed in the daily running of the business. Strategic Business Thinking starts with innovation. Think outside of the box and examine all possible ways future objectives can be implemented and met so that the business stands out amongst the competitors. Every Strategic Business Thinker has certain habits that help them:
1. The bigger picture – Get in the habit of stepping outside of the daily running of the business and view it as an outsider. A strategic thinker is constantly scanning and assessing problems and opportunities with a firm eye on the future
2. Trusting relationships - A strategic thinker establishes relationships and values trust between employees and key business partners. It means you have people around who you can count on. Also, customer trust and relationships create loyalty, reoccurring business and future opportunities through referrals.
3. Schooling – Challenges are embraced. When you are a strategic thinker you create an environment for constant learning opportunities. You welcome change and you are not afraid of taking risks. You believe that you learn through failures and celebrate each success no matter how small. Some of the best growth opportunities for the business sprout out of failures.
4. Creative juice – By encouraging innovation a Strategic Business Thinker challenges day-to-day operations. Creative solutions, improvements and ideas should be supported and rewarded. Encourage employees to question everything and to improve the workflow and processes.
5. Info is Key – Information is extremely valuable to a strategic thinker. Customer and employee surveys, a lot of technology and free tools we have available to our disposal are just a few of the methods available to gather information and keep strategic thinkers up to speed with industry trends as well as keeping an eye on the competitors. A Strategic Business Thinker needs all the necessary information to assist them with making well-informed decisions.
The Strategic Business Thinker needs to measure the outcomes of previous plans and processes to determine whether or not the strategies implemented are effective or not. Without measurement of strategic actions, most companies and especially start-ups would be in the dark as to whether or not their plan is actually productive and successful. *
*The Mindspa Institute is a soft skills training company that supply soft skills training across the board, from public courses to tailor-made company course. What is more, is that they specifically design the course to take the uniquely South African workforce into account. They do a lot of strategic thinking workshops. Learn to think out of the box and create in-house strategic thinkers.
Herewith is the link to the course outline: The Mindspa Institute
