In a game, strategy refers to a player\'s plan for winning. In military terms, s

Question

In a game, strategy refers to a player's plan for winning. In military terms, strategy means outmaneuvering the enemy. In the world of business, "strategy" is used to maintain successes and achieve growth.

a. Compare and contrast conventional strategic planning concepts with those of strategic intent and skill-based strategic thinking. Explain how the differences in these concepts can lead to better business strategy practice.

b. Explain the relationships between business models, business strategies, and strategic intent and skill-based strategic thinking. Include an explanation of how these concepts can help avoid myopic business strategy development.

Explanation / Answer

a) Strategic Intent - Trimming ambitions to match resources, search for advantages that can be sustained.

Strategy can be separated into two concepts, strategic thinking, and, strategic planning. In both the approaches, there is a link between strategic management, and, leadership. Strategic thinking is creative, innovative, and, a right-brained process. It encourages solutions to meet dynamic, unpredictable challenges. Strategic planning is a logical, and, systematic application of strategies. When faced with dynamic environmental change, strategic thinking creates a dynamic competitive advantage.

b) The relationship between business models, strategic intent, and, strategic thinking

Liedtka proposed a strategic thinking model of interrelated attributes. The attributes are:

These enable organizational constituents to identify emerging opportunities, and, to be open to transition. The test of leadership is an organization performing tasks related to the organizational mission. The connection is evident in goal formation, and, overarching direction. Leaders set the goal for learning, and, strategic competence.

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