- strategic thinking is the generation of insights on a continual basis to achieve advantage. It should occur on a daily basis
- strategic planning is the channeling of those insights into an action plan to achieve goals and objectives
- in business, strategic thinking is your ability to use your resources, time, talent and budget more effectively than the competition
- strategic thinking framework…Action, Acumen & Allocation. Allocation is focusing resources through trade-offs, Action is executing strategy to achieve goals & the discipline number one is Acumen where someone must dive below the issues to uncover insight.
- a strategic insight is an idea which combines two or more pieces of data to effect the overall success of the business and lead to competitive advantage.
- maximize potential of resource of allocation. Having the most amounts to nothing but what matters is the allocation of resources. Resources allocation is at the core of strategy.
- strategy is the intelligent allocation of limited resources.
- what trade offs will I make to allocate resources
- levels of strategy include corporate, business and functional
