This strategic thinking training tool describes the characteristics of successful strategic thinking. It lays out a series of strategic questions, recommendations, and strategic options. It shows the traps to avoid. We recommend this as an excellent guide to all strategic planning processes. (3 pages)
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Introduction to Strategic Thinking
If you want to think strategically, we advise that you start with the end in mind. To have a sound strategy, you must be able to answer these questions:
– What are the products and markets in which you choose to compete?
– Exactly what do you expect to do differently or better than your competitors to be successful?
– What critical assumptions are you making about the competition and the environment? Are you sufficiently confident in them?
– What are the major tradeoffs you must make in order to achieve the strategy? What have you committed not to do?
– Where will you put your priorities in allocating resources (money and effort)?
Strategic Thinking Traps to Avoid
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