An Overview of Thinking Strategically‘our boss just told you to “think strategically”—but what does that mean? In the pages that follow, we'll take a closer look at several key aspects of thinking strategically—what it is, why it’s important, who needs to think strategically, what distin- guishes strategic thinkers, and what are the steps in the strategic thinking process. What is strategic thinking? In its most basic sense, strategic thinking is about analyzing oppor- tunities and problems from a broad perspective and understanding the potential impact your actions might have on others. Strategic thinkers visualize what might or could be, and take a holistic ap- proach to day-to-day issues and challenges. And they make this an ongoing process rather than a onetime event. Like other managers, you routinely encounter complex situa- tions, difficult problems, and challenging decisions. Your job is to deal with these situations as best you can by using the information you have. In an ideal world, you would have access to all the infor- mation you need to navigate through these challenges. Unavoid- ably, however, you have only a limited amount of information to work with. And because you sit in a particular part of your organ- ization, you have a limited view of the forces that lie outside your sphere of influence. 4 Thinking StrategicallyStrategic thinking helps you overcome these limitations. When you think strategically, you lift your head above your day-to-day ‘work and consider the larger environment in which you're operat- ing. You ask questions and challenge assumptions about how things workin your company and industry. You gather complex, sometimes ambiguous data and interpret it. And you use the insights gained to make smart choices and select appropriate courses of action. Moreover, you do all these things with an eye toward generat- ing the best possible business results tomorrow, using the oppor- tunities presented to you today. Why is strategic thinking important? When you and others in your organization think strategically, you generate important benefits for your organization: + You chart a course for your group that aligns with the overall corporate strategy. + You make smart long-term decisions that complement and align with decisions that others in your organization are making. + You gain your employees’ commitment to supporting your decisions. + You boost your group's performance and maximize business results. + You foster a culture that supports fresh thinking and embraces strategic initiative, ‘An Overview of Thinking Strategically 5