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Strategic Thinking
Strategic thinking is a mental or thinking process applied by individuals and within organizations in the context of achieving a goal or set of goals. When applied in an organizational strategic management process, strategic thinking involves the generation and application of unique business insights and opportunities intended to create competitive advantage for a firm or organization. It can be done individually, as well as collaboratively among key people who can positively alter an organization's future. Group strategic thinking may create more value by enabling a proactive and creative dialogue, where individuals gain other people's perspectives on critical and complex issues. This is regarded as a benefit in highly competitive and fast-changing business landscapes. Overview There is a generally accepted definition for strategic thinking, a common agreement as to its role or importance, and a standardised list of key competencies of strategic thinkers. There is also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Goal
A goal or objective is an idea of the future or desired result that a person or a group of people envision, plan, and commit to achieve. People endeavour to reach goals within a finite time by setting deadlines. A goal is roughly similar to a purpose or aim, the anticipated result which guides reaction, or an end, which is an object, either a physical object or an abstract object, that has intrinsic value. Goal setting Goal-setting theory was formulated based on empirical research and has been called one of the most important theories in organizational psychology. Edwin A. Locke and Gary P. Latham, the fathers of goal-setting theory, provided a comprehensive review of the core findings of the theory in 2002. In summary, Locke and Latham found that specific, difficult goals lead to higher performance than either easy goals or instructions to "do your best", as long as feedback about progress is provided, the person is committed to the goal, and the person has the abil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mintzberg
Henry Mintzberg is a Canadian academic and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. Early life Mintzberg was born on September 2, 1939, in Montreal, Quebec, Canada. He is the son of Jewish parents Myer and Irene (Wexler) Mintzberg. His father, Myer Mintzberg, was a manufacturer. Education Henry Mintzberg completed his first undergraduate degree in mechanical engineering at McGill University in 1961. During his time at McGill University he was in two honor societies, was a student council representative, a ''McGill Daily'' sports editor, a student athletic council chairman, and more. Mintzberg then went on to complete his second undergraduate degree in 1962. This degree was a Bachelor of General Arts and he received it from Sir George Williams University, which is now known as Concordia Universit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Planning
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets. In its entirety, this document serves as a road-map (a plan) that provides direction to the business. Written business plans are often required to obtain a bank loan or other kind of financing. Templates and guides, such as the ones offered in the United States by the Small Business Administration can be used to facilitate producing a business plan. Audience Business plans may be internally or externally focused. Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders. These plans typically have detailed information about the organization or th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Management
In the field of management, strategic management involves the formulation and implementation of the major goals and initiatives taken by an organization's managers on behalf of stakeholders, based on consideration of Resource management, resources and an assessment of the internal and external Market environment, environments in which the organization operates.qn, date=June 2018 Strategic management provides overall direction to an enterprise and involves specifying the organization's goal, objectives, developing policy, policies and plans to achieve those objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision-making in the context of complex environments and competitive dynamics. Strategic management is not static in nature; the models can include a feedback, feedback loop to monitor execution and to inform the next round of planning. Michael Porter identifies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Systems Thinking
Systems thinking is a way of making sense of the complexity of the world by looking at it in terms of wholes and relationships rather than by splitting it down into its parts.Anderson, Virginia, & Johnson, Lauren (1997). ''Systems Thinking Basics: From Concepts to Causal Loops''. Waltham, Mass: Pegasus Comm., Inc. It has been used as a way of exploring and developing effective action in complex contexts, enabling systems change.Sarah York, Rea Lavi, Yehudit Judy Dori, and MaryKay OrgilApplications of Systems Thinking in STEM Education''J. Chem. Educ.'' 2019, 96, 12, 2742–2751 Publication Date:May 14, 2019 https://doi.org/10.1021/acs.jchemed.9b00261 Systems thinking draws on and contributes to systems theory and the system sciences.Systemic Thinking 10Russell L Ackoff From Mechanistic to Systemic thinking also awal street journa(2016) Systems Thinking Speech by Dr. Russell Ackoff1:10:57 History Ptolemaic system versus the Copernican system The term ''system'' is polysem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Intuition
Intuition is the ability to acquire knowledge without recourse to conscious reasoning or needing an explanation. Different fields use the word "intuition" in very different ways, including but not limited to: direct access to unconscious knowledge; unconscious cognition; gut feelings; inner sensing; inner insight to unconscious pattern-recognition; and the ability to understand something instinctively, without any need for conscious reasoning. Intuitive knowledge tends to be approximate. The word ''intuition'' comes from the Latin verb translated as "consider" or from the late middle English word , "to contemplate". Use of intuition is sometimes referred to as responding to a "gut feeling" or "trusting your gut". Psychology Freud According to Sigmund Freud, knowledge could only be attained through the intellectual manipulation of carefully made observations. He rejected any other means of acquiring knowledge such as intuition. His findings could have been an analytic turn of h ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jeanne Liedtka
Jeanne M. Liedtka, (born March 2, 1955) is an American strategist and professor of business administration at the Darden School of the University of Virginia, particularly known for her work on strategic thinking, design thinking and organic growth. Biography Born in Trenton, New Jersey, Liedtka received a B.A. in accounting from Boston University in 1976, an M.B.A from Harvard Business School and a D.B.A. in management policy from Boston University in 1988. She taught previously at Simmons College and at Rutgers University, and is United Technologies Chaired Professor of Innovation and Design Thinking at the Darden School of Business, University of Virginia. Work Liedtka is particularly known for her work in corporate strategy. Beginning her career as a strategy consultant with the Boston Consulting Group, she has written and consulted on topics surrounding strategic thinking for over 30 years. Formerly the Executive Director of the School's Batten Institute, a foundat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Mintzberg
Henry Mintzberg is a Canadian academic and author on business and management. He is currently the Cleghorn Professor of Management Studies at the Desautels Faculty of Management of McGill University in Montreal, Quebec, Canada, where he has been teaching since 1968. Early life Mintzberg was born on September 2, 1939, in Montreal, Quebec, Canada. He is the son of Jewish parents Myer and Irene (Wexler) Mintzberg. His father, Myer Mintzberg, was a manufacturer. Education Henry Mintzberg completed his first undergraduate degree in mechanical engineering at McGill University in 1961. During his time at McGill University he was in two honor societies, was a student council representative, a ''McGill Daily'' sports editor, a student athletic council chairman, and more. Mintzberg then went on to complete his second undergraduate degree in 1962. This degree was a Bachelor of General Arts and he received it from Sir George Williams University, which is now known as Concordia Universi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Planning
Strategic planning is the activity undertaken by an organization through which it seeks to define its future direction and makes decisions such as resource allocation aimed at achieving its intended goals. "Strategy" has many definitions, but it generally involves setting major goals, determining actions to achieve these goals, setting a timeline, and mobilizing resources to execute the actions. A strategy describes how the ends (goals) will be achieved by the means (resources) in a given span of time. Often, Strategic planning is long term and organizational action steps are established from two to five years in the future. Strategy can be planned ("intended") or can be observed as a pattern of activity ("emergent") as the organization adapts to its environment or competes in the market. The senior leadership of an organization is generally tasked with determining strategy. It is executed by strategic planners or strategists, who involve many parties and research sources in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Decision Making
In psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action. Research about decision-making is also published under the label problem solving, particularly in European psychological research. Overview Decision-making can be regarded as a problem-solving activity yielding a solution deemed to be optimal, or at least satisfactory. It is therefore a process which can be more or less rational or irrational and can be based on explicit or tacit knowledge and beliefs. Tacit knowledge is often used to fill the gaps in complex decision-making processes. Usua ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
