The paper "From Strategic Planning to Strategic Thinking" is a great example of management coursework. Whenever a company is operating under turbulent times, proper planning needs to be embraced, organizations need to go beyond mere visioning, planning and forecasting. In today’ s rapidly changing business and economic world, all necessary substantive issues of business and corporate strategy have been issues of proper implementation. Today business strategizing is more concerned with matching between companies internal capabilities with its external environment. In these turbulent times, there are quite a number of challenges businesses are being faced with, there is the issue of global financial crisis which has even threatened to bring some of the best economies on its knees, more pressure is being felt at the corporate level, with newly increased competition from the newly industrialized economies, dwindling market share, uncertainty in the stock market, crushing of the real estate sector which is the main driver of the global economy, unemployment numbers soaring, increased cost of energy, corruption, escalation of medical care, the soaring cost of education, counterfeits. However, despite the challenges, there are new opportunities emanating especially in the Information and Communications Technology. To begin with, telecommunication companies subscription numbers are at the record highest, this is evident by the number of new operators, there is also the hype of newer services such as the anticipated 4G technology, there is the mushrooming of web 2.0 services, for the first time laptop sales have eclipsed the PC market worldwide, smartphones sales are at the peak and finally the “ Netbooks” these are the smaller version laptops, have taken the computer industry by storm, however, there is still a lot of debate whether all this is being attributed to the global financial crisis or the natural success of the product ” Netbooks” . During these turbulent times organizations need to become competitor oriented, they must always organize themselves to pursue the right competitive advantages & strategy, these means they should avoid their competitor’ s strength, and at the same time look for their weak points.
Organizations ought to implement some unique value-based strategy by combining organizations internal resources and capabilities that competitors will find extremely hard to replicate across. However, there is a difference in performance between various industries across the world.
The stock market in New York however big is not the same as the stock market in China, the real estate sector in Dubai is a different story with what is being witnessed in Malaysia or Singapore, the Tourism industry in Kenya is not the same story as the tourism industry in South Africa. In this report, we are going to critically analyze the different sector independently and make a conclusive conclusion at the end of the analysis whether we should change tact in implementing some of our business strategies. In a period of drastic changes, there should always be a shift from strategic planning towards strategic thinking and strategic management (Henry Mintzberg, 1994).
However, there has been a lot of debate whether the term “ Strategic planning” should be dropped because it is being believed to have profoundly impeded strategic thinking.
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