Strategic Thinking in Developing Effective Strategies

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Universiti Utara Malaysia Strategic Thinking in Developing Effective Strategies A Review of the Literature BPMN 6023: Strategic Management Lecturer: Assoc. Professor Dr Saari Prepared by: Lim Yew Wei 1.0 Introduction 3-5 2.0 Definition of Subject 5-6 3.0 1st Articles : Implication of Intuition for Strategic thinking: Practical Recommendations for Gut Thinker 6-9 4.0 2nd Articles : Management Framework Guiding Strategic Thinking In Rapidly Changing Markets 10-15 5.0 3rd Articles : Thinking Strategically About Thinking Strategically 15-19 6.0 4th Articles : Strategy Thinking - Learn to Optimize Its Power 20-22 7.0 5th Articles : The Need for…show more content…
All managers have resources (time, talent and capital) to varying degrees within their organizations. So, technically, all managers are strategists. The reality, however, is that not all managers are good strategists. Herein lies the pearl of great opportunity: the deeper you can dive into the business and resurface with strategic insights, the more valuable you’ll become to your organization. Effective resource allocation drives profitability (more resources invested in the right activities) and productivity (fewer resources invested in the wrong activities). The result is a high-performance organization in which all levels of management are encouraged and equipped to shape its strategic direction. 2.0 Definition of Subject 3.1 What is Strategy and Why is it Important Why every company needs a sound strategy to compete successfully, manages the conduct of its business, and strengthens its prospect for long-term success? A company’s Strategy consists of the competitive moves and business approaches that managers are employing to compete successfully, improve performance, and grow the business. Strategy is the process by which individuals and organizations make choices about scarce resources so as to satisfy wants over time. In making their choices individuals and organizations are constantly assessing market and non-market forces as vehicles to enhance economic welfare but they do so in an environment of complexity and
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