Buy custom Strategic Thinking - A Cursory Analysis
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| Topic: |
Business
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| Number of pages / Number of words: |
3 / 818 |
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As reported by Bonn (Bonn, 2001) in her attempt to stress the importance of formulation of strong strategic vision, she draws on the results of a survey carried out (Collins and Porras, 1998 cited in Bonn, 2001, p.66 ) on a number of companies, some of who had focused, well-thought-through strategic visions while others had much less deliberate, haphazardly formulated vision statements or vision statements which had no been reviewed for a length of time...
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The results were clear: over an 11 year period, those with focused strategic vision made a whopping average of 1500% more profit for its shareholders!
Strategic thinking allows for a thorough evaluation of:
- A company’s competencies and skills, thus determining its strengths and weaknesses and their implication on the performance of the company;
- The portfolio of a company’s products/services, and thus their relevance within the markets which the company competes;
- The environment in which the company competes in relation to its products/services as well as other interrelated industries, and the drivers to which it is subjected;
- A company’s target market (and potential target markets) and its needs;
- Direct and indirect competitors and their current and potential effect on the company’s competitive advantage; and
- Capacities of suppliers and buyers which the company interacts with...
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