Strategic Thinking and Strategic Planning: Two Pieces of the Same Puzzle

19 Pages Posted: 3 Aug 2010

Date Written: June 14, 2009

Abstract

An organization’s strategy consists of many factors that form a formula or road map to provide guidance concerning the organization’s goals, how it will go about attaining these goals, and the tactics and policies that are needed to attain those goals Porter (1980). Thus, one can ascertain that there are many components of strategy. Management’s understanding and use of strategy as a tool to ensure business success has been an important issue for many decades. This paper’s purpose is to determine establish the critical components of strategic management. To accomplish this purpose, the analysis first compares and contrasts the relationship between strategic planning and strategic thinking and their relationship to strategic management. Second, the paper evaluates the strategic management process within the framework of its strategic planning and strategic thinking components. Third and last, the analysis makes conclusions as to the critical role of strategic management in organizational success.

Keywords: Strategy, Management, Strategic, Planning, Thinking, Organization, Organizational, Structure, Strategies, Innovation, Success, Leadership, Goals, Strategist

Suggested Citation

Lowder, B. Tim, Strategic Thinking and Strategic Planning: Two Pieces of the Same Puzzle (June 14, 2009). Available at SSRN: https://ssrn.com/abstract=1418793 or http://dx.doi.org/10.2139/ssrn.1418793

B. Tim Lowder (Contact Author)

Saint Leo University ( email )

33701 State Road 52
PO Box 6665
Saint Leo, FL 33574-6665
United States
843-245-7583 (Phone)

HOME PAGE: http://www.saintleo.edu

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