[[:encoded, "Today we are going to talk about What is Strategic Thinking and How to Apply it to Your Business.\n\nThe theory of strategic thinking has been gaining steam in the business world. While it follows the same outline as strategic planning, it differs in that it allows more flexibility, greater creativity, and more collaboration among multiple levels of management. \n\nEssentially, strategic thinking is a method outlining the following:\n•\tUnderstanding the implications of strategic actions\n•\tHolding the past, present and future in mind in order to make effective decisions\n•\tFocusing on the goal of the action with the intent of achieving it\n•\tCombining critical and creative thinking to all decisions\n•\t“Intelligent optimism,” the ability to respond to good opportunities\n\nEach of these steps is categorized into the 7 following areas. Let’s discuss them now.\n\nNow let’s talk about five steps to implementing Strategic Thinking in your business.\n\nStrategic Thinking is not a new way of thinking; many successful large organizations have used these practices to establish a clear and precise path on which to carry out their vision. It is essentially a critical thinking process in which all business details are written down in black and white, so that all team members work cooperatively to drive success in the most direct path with the least resistance. Applying Strategic Thinking practices to your small business will accelerate your success by allowing a crystal clear focus to drive daily tasks - for you and your team. \n\nTake advantage of the complimentary special report on Keys to Working Less, Making More Money, and Having a More Balanced Life by going to www.AccountabilityCoach.com. Join the Silver Inner Circle (IT’S FREE) and receive 10% off on all products and services in addition to having access to many assessments and complimentary resources so you can begin achieving your goals in the timeframe you want, so you can have the life you desire. Get started today by going to www.AccountabilityCoach.com and Join the FREE Silver Inner Circle. \n\nAim for what you want each and every day! \nAnne Bachrach\nThe Accountability Coach™\nAuthor of Excuses Don’t Count; Results Rule and Live Life with No Regrets. Get your copies today."]]
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Anne Bachrach
The Accountability Coach™
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(upbeat music) - Hello, and welcome to the Accountability Coach podcast, where we will discuss topics, ideas, questions, and issues related to having a totally balanced and successful life. This is Ann Bakrak. Today we're going to talk about what is strategic thinking and how to apply it to your business. In recent years, the theory of strategic thinking has been gaining steam in the business world. While it follows the same outline as strategic planning, it differs in that it allows more flexibility, greater creativity, and more collaboration among multiple levels of management. Essentially, strategic thinking is a new method outlining the following. Understanding the implications of strategic actions, holding the past, present, and future in mind in order to make effective decisions, focusing on the goal and the action with the intent of achieving it, combining critical and creative thinking to all decisions, and intelligence optimism, the ability to respond to good opportunities. Now, each of these steps is categorized into the following seven areas. So, let's talk about each one of these right now. Number one, vision of the future. Only the shape of the future can be predicted. The past and the present have already been set and cannot be changed. Number two, strategic formulation and implementation. Formulation and implementation are interactive rather than sequential and discreet. This is a more interactive way to strategize and involves multiple levels of managerial roles, providing creative input and potentially improving the results. Number three, managerial role in strategy making. Lower level managers have a voice in strategy making as well as a greater latitude to respond opportunistically to developing conditions. In the past, strategic thinking was generally reserved to close door meetings with the upper management. This method employs feedback with lower level management who has direct contact with team members, employees, and clients. Number four, control. Reliance on self-reference, a sense of strategic intent and purpose embedded in the minds of managers and employees throughout the organization that guides their choices on a daily basis in a process that is often difficult to measure and monitor from above. This empowers managers and employees to think strategically about their actions and resulting outcomes. Number five, managerial role of implementation. All managers understand the larger system, the connection between their roles and the functioning of that system, as well as the interdependence between the various roles that comprise the system. With an understanding, they will be able to recognize actions that support the system and lead others to do exactly the same. Number six, strategy making. See strategy and change as inescapably linked and assumes that finding new strategic options and implementing them successfully is harder and more important than evaluating them. This role puts ideas into action and places the importance of the application rather than extensive and time-consuming evaluation before action. We all are familiar with that. Change is happening all the time. So the time to implement the strategy is now and not later. So you can capitalize on the benefits. Number seven, process and outcomes. Seems, I'm sorry, it sees the planning process itself as a critical value adding element as a business owner. You know the importance of planning, but getting there can sometimes seem extremely tedious. The process is seen as a valuable piece since it brings greater creativity and potential with a broader managerial scope. Whether you run a small business or a large corporation, strategic thinking can help your business run more efficiently and effectively. Let's talk about five steps to implementing strategic thinking in your business. Step number one, have a vision for the future. This is the basis for all strategic thinking. If you don't know where your business is going, how do you know what to do when you get there? Write out a mission statement for your business. Remember to think big. Businesses that achieve great success always have a great visionary behind them. Step number two, have clear and focused goals and milestones. Once you've written your mission statement, you have the big picture. From there, create smaller milestones or goals that are very focused and specific. Be sure they include target dates, month, day and year. Your entire team should be on the same page in order to have the highest probability positioned to achieve all the goals. In other words, they should be doing what you're doing and you should be a good example. Step number three, learn to work efficiently and effectively. This takes a combination of building the right team, creating the right systems and processes and documenting them and delegating for optimal results. When your business runs at its optimal level, it's easier to see the positive results of leverage. Step number four, remain aware of the direction your team has headed. This does not mean you should micromanage, but you as a leader or manager should always have an understanding of how the actions of your team affects the future of your business. Look for ways to keep your team focused on the goals. Come up with creative ideas for supporting them, which will help them to remain enthused and go that extra mile. Step number five, keep your eyes open for golden opportunities. When you are prepared, you can take advantage of opportunities that your competition may not be ready to take. Support creative input from your team and teach them how to spot an opportunity that will create more opportunity and more growth. Strategic thinking is not a new way of thinking. Many successfully large organizations have used these practices to establish a clear and precise path on which to carry out their vision. It is essentially a critical thinking process in which all business details are written down in black and white so that all team members work cooperatively to drive success in the most direct path with the least amount of resistance. Apply strategic thinking practices to your business and it will accelerate your success by allowing a crystal clear focus to drive daily tasks for you and your team. My hope for our time together is that you got some value and an idea or two that will help you be even more successful, both personally and professionally. Take advantage of the complimentary special report on keys to working less, making more money and having a more balanced life by going to www.accountabilitycoach.com. Join the Silver Inner Circle. It's free and receive 10% off on all products and services in addition to having access to many complimentary assessments and resources so you can begin achieving your goals in the timeframe that you want. So you can have the life you truly desire. Get started today by going to www.accountabilitycoach.com and join the free Silver Inner Circle. Aim for what you want each and every day. Until next time, make it a great day. Today and every day. Thanks for listening. (upbeat music) Let me remind you that this recording is protected by copyright law and unauthorized distribution and copying is prohibited. (upbeat music) (upbeat music)
[[:encoded, "Today we are going to talk about What is Strategic Thinking and How to Apply it to Your Business.\n\nThe theory of strategic thinking has been gaining steam in the business world. While it follows the same outline as strategic planning, it differs in that it allows more flexibility, greater creativity, and more collaboration among multiple levels of management. \n\nEssentially, strategic thinking is a method outlining the following:\n•\tUnderstanding the implications of strateg...
