How to Develop Strategic Thinking Skills in Business

I was recently assisted by Dr. Debri van Wyk and Ms. Lisa Shane, Industrial Psychologists, with my Personal Development Plan. The plan was derived from the results of a HOGAN ASSESSMENT done during October 2008.

One of the areas which I should put my focus on for developing purposes is “Developing Strategic Thinking Skills”. I thought it prudent to share the 8 (eight) steps to focus on with you, as it is a quick and easy way to understand Strategy.

Step 1
Examine the status quo. Strategic thinking skills require you to examine how things have always been done critically in order to determine if that is the way things should be done. Strategic thinkers are willing to look outside of the norm to find more efficient ways of doing things.

Step 2
Look at the forest, not the trees. Strategic thinkers are not mired down by the details of managing day-to-day issues. Strategic thinkers look at the organisation as a whole to assess attributes and areas of opportunity.

Step 3
Focus on the future. Strategic thinking is goal oriented and guided by a vision for the future of a company. When you are developing strategies for business growth, those strategies must have clearly defined goals that contribute to the overall vision for the company.

Step 4
Consider external forces when you develop a strategic plan. Governmental regulations, legal developments, market conditions, economic factors and technological developments can all affect how you plan for the future.

Step 5
Get feedback from within your industry. Market research, particularly in product-driven industries, can help you match the vision for your company to consumer expectations.

Step 6
Check the facts. Even though strategic thinking involves making predictions about the future, those predictions must be realistic. Gather hard data, including your organisations financial reports and analysis of your industry, to inform your predictions and help you develop goals based in reality.

Step 7
Consider the organisational structure of your business and assess how that team fits into your strategies for the future. You may have to reorganise your team to achieve your goals.

Step 8
Anticipate challenges. An important part of thinking strategically is being able to predict what issues will arise and devising a plan to confront those issues ahead of time.