Business Strategy Essay Example | Topics and Well Written Essays - 2000 words - 15

Business Strategy - Essay Example strategic thinking is through brainstorming for new ideas and through the application of possibility thinking with an aim of developing strategic goals and direction .It is a way that has specific purposes and characteristics and a well-defined way of thinking. Studies conducted by the Wall Street Journal assert that corporations emphasized on strategic thinking as the skill they sought most after in an executive above other skills. Strategic thinking involves challenging assumptions that have been rooted in an industry, the ability to embrace change and current trends, visualizing as to the direction a company should take and providing leadership for the future. It also involves developing new opportunities that create value today and into the future. A strong foundation promoting critical thinking is important to facilitate the growth of any critical thinking platform. It should also be coupled with a deep understanding of the fundamental drivers affecting an organization and challenging the traditional way of thinking. Strategic thinking has been described as an imaginative strategy which is used to rewrite the rules relating to the competitive game and pursue the potential future by dealing with current realties and creating alignments. Strategic thinking main goal is to create strategies that are in alignment with the organization’s vision in order to gain a competitive edge over its competitors. Strategic intent is a statement by a company from high level management stating its desire to achieve its vision. It has been termed as a statement of design responsible for the creation of a better future and it is simply a company’s vision of what it aims to achieve in the long term. However, strategic intent must convey a sense of discovery, opportunity and direction that can be advantageous to the employees (Pitt 2001). It is not a fit exercise but a stretch exercise. This is because strategic intent formulates a picture of a customer’s daily routine and