model), intra-industry analysis (e.g., strategic mapping),
customer/competitor analysis (e.g., game theory), industry change models
(e.g., PLC, technology S-curve, etc) and internal analysis (e.g., strengths and
weaknesses, core competence matrix).
What is often lacking is an emphasis on "strategic or critical thinking" in
the process of developing strategy. The ability to approach problems in a
logical while asking the “right” questions is a skill that should stay with
students long after they forget the details of specific analytical techniques
have passed from memory.
What are the characteristics of strategic thinking? Mostly, it's about
asking the right questions. It's also about challenging the answers provided
to these questions with even more questions.
Everything must be questioned and examined from multiple perspectives
(e.g., marketing, finance, economics, history, politics, psychology, etc).
Research, homework, due diligence, or however we refer to the process of
understanding the situation in-depth must be completed. Assumptions must
be surfaced and their reasonableness questioned. Dissenting opinions need to
be heard. A variety of sources must be used to gather information, rumors,
insights, and creative ideas. The key principles are not how to perform a