Strategic thinking is the process of developing a strategy that will create a successful future for an organization or individual. The five key elements of strategic thinking are:
1. Vision: Developing a clear picture of the desired future state for the organization or individual. This gives the team members and stakeholders the direction they need to reach that goal.
2. Objectives: Creating attainable and measurable objectives that will lead to the desired future state. This helps identify what needs to be done to reach the desired outcome.
3. Goals: Establishing clear, realistic and achievable objectives that can be accomplished in the short-term. This helps to keep the team focused on progress.
4. Strategies: Developing the actionable steps that need to be taken to reach the goal. This ensures that the objectives can be met while focusing the team on the activities that will lead to success.
5. Execution: Implementing the strategies and taking the necessary steps to achieve the objectives. This is where the rubber meets the road and the strategy is actually executed. Without proper execution, strategic thinking will be of little value.
