Strategy 07: Strategic Thinking

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Questions and Answers

What is strategic thinking?

A process used to view, weigh up, and create the future for oneself and others (correct)

A skill that is not valuable for personal or work-related decisions

A skill that focuses solely on short-term goals

A process used to analyze historical data for decision-making

How can strategy be defined?

Relying solely on resources available

Focusing only on long-term objectives

Bridging the gap between policy and tactics (correct)

Implementing short-term plans

What is an emergent strategy?

A strategy that was not initially planned but formed through consistent actions or solving unexpected issues (correct)

A strategy that does not consider available resources

A strategy that is rigid and inflexible

A strategy that is solely based on long-term planning

In the context of strategy, what does 'means and ends' refer to?

Having an end in mind and determining the means to reach it (A) Signup and view all the answers

What does strategic thinking help with?

Making good decisions related to work or personal life (B) Signup and view all the answers

What does a strategic thinking process involve?

Viewing, weighing up, and creating the future for oneself and others (B) Signup and view all the answers

How can strategy be thought of in terms of 'means and ends'?

Having an end in mind and determining the means to reach it (D) Signup and view all the answers

What are tactics in the context of strategy?

The actions used to execute a strategy (C) Signup and view all the answers

What forms an emergent strategy?

Consistent actions forming a pattern over time or solving an unexpected issue (D) Signup and view all the answers

What is the realm of strategy according to the text?

The deployment or arrangement of resources (B) Signup and view all the answers

What is the first step in applying Future-basing®?

Stimulate imagination by 'reviewing the future' (D) Signup and view all the answers

What is the purpose of creating a frame for success in Future-basing®?

To focus attention on streams of achievement (D) Signup and view all the answers

How are achievements listed in the development of the vision in Future-basing®?

In present tense and using positive terms (C) Signup and view all the answers

What is the fourth step in applying Future-basing®?

Analyzing feelings (C) Signup and view all the answers

What does the fifth step in Future-basing® involve?

Mapping out how you got to the ideal future (A) Signup and view all the answers

How can buy-in be achieved in Future-basing®?

Having as many stakeholders as possible when generating the vision (C) Signup and view all the answers

What is an essential aspect of developing a team's vision in Future-basing®?

Describing future vision as if it is already real (A) Signup and view all the answers

How can Future-basing® be cascaded across an organization?

By creating a central vision and training people in various divisions or departments to create their own parts of the vision and action (D) Signup and view all the answers

What role do feelings play in strategic thinking according to Future-basing®?

Feelings need to be noted as evidence from your achievements in an ideal future (C) Signup and view all the answers

Why is it important to phrase achievements in positive terms when developing a vision with Future-basing®?

To create a positive and encouraging outlook towards achieving those goals (B) Signup and view all the answers

What was the result of the trial run of the innovative leaflet at the London Baltic Exchange?

Increased sales and resolution of the printing problem (D) Signup and view all the answers

How did the company's innovative leaflet contribute to winning the largest container agency contract in the world?

Generated significant publicity (C) Signup and view all the answers

What does strategic thinking enable individuals to do?

Notice opportunities for efficiency and seize them (B) Signup and view all the answers

How is Future-basing® related to strategic thinking?

It is a specific method of strategic thinking involving creating a vision and operational plans (D) Signup and view all the answers

What was the impact of the company's growing container hire list on printing operations?

Led to tearing in the printing machines due to printing on both sides of the paper (B) Signup and view all the answers

What was unique about the suggestion made by the print department supervisor regarding the sales list?

Turning it into a simple, folded page on plain paper with color illustrations, which was unheard of at the time (D) Signup and view all the answers

Study Notes

The company's growing container hire list led to the need to print on both sides of the paper, causing tearing in the printing machines.
The print department supervisor suggested turning the sales list into a simple, folded page on plain paper with color illustrations, which was unheard of at the time.
The trial run of the first leaflet created a sensation in the London Baltic Exchange, resulting in increased sales and solving the printing problem.
The company won the largest container agency contract in the world due to the publicity generated by the innovative leaflet.
Strategic thinking allows individuals to be proactive and take the initiative to find ways to improve.
Strategic thinking can increase market share and profitability by contributing to building a vision for the future.
Strategic thinking can make a business more durable by enabling individuals to notice opportunities for efficiency and seizing them.
The group of radiography superintendents in a hospital applied strategic thinking to increase productivity and improve working relationships by delegating patients to their team members.
Strategic thinking involves planning for the future and designing the desired future to make it happen, known as the forecasting and creating forms.
Future-basing® is a specific method of strategic thinking that involves creating a vision, deciding how to achieve it, building operational plans, and generating motivation to act, encouraging creative thinking and a strong sense of purpose.

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Description

Discover the process of strategic thinking and its importance in shaping the future. Learn how strategic thinking can aid in making effective decisions for both professional and personal aspects of life. Gain insight into the connection between strategy, policy, and tactics.