Why Is Strategic Thinking Important to the Success of Business?

Strategic thinking involves making a series of decisions about what actions the company intends to take to become more successful. A company often goes through a strategic planning process once a year, creating a document that is, in essence, a guidebook for the management team to use in the upcoming year. Companies should strive to make strategic thinking an ongoing, year-round process. At the heart of strategic thinking is the ability to anticipate major shifts in the competitive marketplace and identify emerging opportunities.

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