Strategic thinking is critical when it comes to being an effective leader.   It is the very essence of being able to look forward and forecast the future direction of your industry and your business. Thinking strategically involves problem solving and critical thinking skills, combined with teamwork.  These are critical skills for contemplating new possibilities, planning for and implementing development, as well as confronting unforeseen changes.

At TMG Advisors, we understand the power of strategic thinking to help you envision what you want your business to become.  Having this vision enables you to formulate a plan for how to reach your goals. When you’re ready to learn more about business forecast methods, email us here.

The five principles of strategic vision.

There are five different principles that will help you develop a strategic vision and business forecast for your business.  They will also help you establish steps that will make your vision a reality.

1. Organization of your business involves its structure and the resources required to make it all work, including the participation of your employees:

  • What structure will best enable your vision?
  • How will your systems be arranged?
  • What is the best way to combine these elements to achieve your goals?

2. Observation makes you aware of what motivates people.  Strategic thinking gives you a bird’s eye view, which increases your powers of observation.  This results in being better able to distinguish between possible alternatives and leads to more effective problem solving.

3. Views are merely different ways to think about something.  Strategic thinking typically employs the following viewpoints when developing your business strategy:

  • The project view
  • The measurement view
  • The marketplace view
  • The environmental view

These perspectives help you identify key elements, consider the potential effects of your actions and adapt your decisions accordingly to achieve your goals.

4. Driving forces are what make your vision a reality.  They let your employees know what you want them to focus on.  Examples include organizational as well as individual incentives—and a well-defined vision, with goals and values. Driving forces also include productive factors (such as having a mission statement), and quantitative aspects, such as experience or a track record of results. A commitment to efficiency, productivity and value also play key roles.

5. Ideal Position. This includes the market niche your business will occupy, existing or future opportunities, the necessary conditions for a productive business (including core skills and competencies), and finally, the tactics and strategies you will use to set your strategy in motion.

Strong strategic thinking is the sure path to business forecasting (and achieving) growth. Email us now to customize the most effective path for you.