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8 Steps Of Strategic Thinking

Aug 23, 2008
Do you want to know the number one thing to ensure the long-term success of your business today? It is simple, thinking strategically and making plans for the future! However, there are far too many businesses today that fail to invest their time and resources into planning for the future. They are way to caught up in the day-to-day activities that keep their business running for that day, not two years down the road.

Sometimes businesses do take the time and devote the resources to create strategic plans, marketing plans and strategies, business plans, etc. only to let them rot on some shelf or in some filing cabinet. They don't understand that these documents need follow through; they need to be reviewed constantly, and need to be updated.

Business strategy is vital to a business's success and they need to commit to spending more time working on strategy and thinking strategically on a regular basis. I have put together eight steps that can help you and your management teams make the best use of time for strategic thinking.

1- Review your plans often and give yourself a reality check. Re-evaluate your strategies, company vision, mission, and goals. Then determine if any changes need to be made, if any.

2- You constantly need to look at the marketplace and your competition to see what has changed, if anything, that affects your plans in one way or another. You should take the time to see which strategies have worked and those that have not. You should also make new strategies for the future.

3- Always review and know the standing of your business finances. Take a good hard look at cash flow and the funding you are receiving for the upcoming year.

4- Maintain focus. You must have commitment in following your business plans, strategic plans, and vision for your business.

5- Come up with a crisis or contingency plan to deal with unexpected problems that may arise.

6- You should seek out strategic thinkers within your organization and group them into a strategic management team. This could be one of the biggest keys to helping your business grow and be successful.

7- You must set time aside every month for dedicated strategic thinking and planning. Make it a priority!

8- Always be a learning. See advice from others, including strategic thinkers, coaches, and others who might be able to assist you in your efforts.
About the Author
CMOE has been helping companies with strategic management and team building since 1978. Through strategic thinking and other innovative business techniques CMOE has established themselves a leader in the business world. Visit www.cmoe.com for more information.
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