Based on Chief Executive Magazine strategic thinking is regarded as probably the most valuable skill a leader can possess. But it is estimated that only 30 percent of all managers are indeed strategic throughout their thinking. Bad strategy is the main cause of bankruptcy in today?s world, so it is essential to consider strategically or risk going out of business.
Fortunately, strategic thinking training is available for companies who wish to create a competitive edge on their rivals. This training provides management teams and even entire organizations with the required skills to maximize their leadership potential. After completing the training individuals will discover a higher business acumen, and also the company will enjoy increased profits and greater productivity.
Developing as well as finding unique opportunities is really a major focus in strategic thinking training. This can enable a creative exchange of ideas among critical people within the organization. By doing this, it is easier to uncover potential opportunities that can be contained in the business plans. Challenging traditional thinking in conversations with others can help reveal the fundamental strengths and weaknesses of a company.
Analysis of a company?s good and bad points can help figure out how to develop a unique advantage over competitors. A strength may be superior technology to produce high quality products. Weaknesses could include inexperienced management, poor distribution channels along with a high price structure. The internal factors affecting the success of a business are these strengths and weaknesses.
SWOT is an acronym that stands for Strengths, Weaknesses, Opportunities, and Threats. Internal factors are considered to become strengths (e.g., superior technology) and weaknesses (e.g., inexperienced management). External factors include opportunities (e.g., new markets) and threats (e.g., strict government regulations). A SWOT analysis may help develop effective business and marketing strategies.
Strategic thinking training shows you how to use a SWOT analysis. One way is to match an internal variable like strength by having an external variable like opportunity. As an example, a butcher could use his superior tasting meat (a strength) to open a restaurant (an opportunity). Weaknesses and opportunities can also be matched in a similar way. A business with inexperienced management (a weakness) can hire consultants before you take advantage of a fresh opportunity.
Going for a strategic thinking training program can tell you that the ways to develop strategies are required to follow certain guidelines. The strategy should fit with a company?s mission statement and vision in the future. Clearly defined company goals shouldn?t be thwarted by a new strategy. The strategy is really a method to reach the goals. A company that can contemplate multiple alternatives will succeed over a company that may only see one outcome.
Only real data can support the most effective strategies. Even educated guesses need to be determined by facts. There are also options to be made when developing the strategy. Prioritizing activities and determining how resources should be deployed may not make all people happy. However, you still must be focused entirely on the clear guidance needed to carry out the strategy.
Sandra has been doing business strategy books for a number years. She has learned the ins and outs for the right solutions to accomplish great strategic planning training level.
This entry was posted on Tuesday, February 21st, 2012 at 12:09 pm by Darren Bradley and is filed under Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
Source: http://house-home-centired.co.za/2012/02/let-strategic-planning-help-your-business/
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