Strategic thinking is a practically common phrase that gets thrown around and used, especially during business meetings and conferences. Such a widespread use of the phrase makes it easy to assume that everyone is on the same page on what is meant by the phrase “strategic thinking”. A lot of theorists came up with various theories defining the phrase in different ways. But in the real world, what is strategic thinking? How does it apply to us in our day-to-day lives?
First and foremost, strategic thinking is a way of thinking that can be used in both personal and business realms. It is a way of viewing anything – a business, a relationship, even a family – as a complete and dynamic system with variables (people) that work together interdependently. It is a way of seeing the big picture and everyone’s role in the system.
Strategic thinking focuses on the long-term. It is a mindset that is open to questions and questioning. It assumes that the way things are being done isn’t necessarily the best or the only method, and basically questions the way things are done. It is an attitude that assumes no information is set in stone, that any information is imprecise and inexact, or simply open to investigation. Thus, whatever conclusions that can be derived from such information are, at best, guesses or supposition. Working from this point of view then makes any decision-making process more dynamic.
Strategic thinking involves being focused and concentrated on your intent and your goals, and not getting distracted. You develop a plan for the future. You focus on the system’s strengths and improving the system’s weaknesses to increase the chances for success. At the same time, you plan and anticipate the unexpected by having backup and contingency plans. You also have to consider past mistakes, present conditions and future possibilities in mind. You must also keep an open mind that is open to new ideas and opportunities. Flexibility and responsiveness are traits that are important in strategic thinking.
Most people believe that business leaders and managers should have strategic thinking as a core competency. However, it pays to have even those who are not in a leadership position to utilize strategic thinking. It requires a change in perspective, a manner of approaching issues from different points of view. Sometimes it even calls for looking at things by totally turning it inside and out, upside down. Everyone can benefit from having an outlook that sees change as constant, hence the need to strategize to address it.