Strategy Practice

Running Head: STRATEGY PRACTICE 0
STRATEGY PRACTICE

STRATEGY 1
Contents
Overview....................................................................................................................................2
Strategic Thinking......................................................................................................................2
Systems Thinking.......................................................................................................................3
Complexity Outlook...................................................................................................................4
Complex Adaptive Systems.......................................................................................................5
The Practice Outlook..................................................................................................................5
Interpreting how management vary in strategizings..............................................................6
Conception of strategic management in relation to environment..........................................6
Exploration of Business Environment with strategic tools....................................................7
Strategic Change Management..............................................................................................8
Strategic Risk Management...................................................................................................9
Conclusion................................................................................................................................10
References................................................................................................................................11

STRATEGY 2
Overview
In the present business environment, there are various intricate and dynamic variables having
significant impact on the business decision-makings (Teece, 2010). The idea of managing
enterprise has evolved in recent decades and this cause rises the importance of system
thinking perspectives. To make the business successful and develop strategies appropriately,
it is very important to scan internal and external environment of an organisation and thus
strategic system thinking helps in examination of various north worthy patterns that helps in
the decision-making and the planning for execution at the business level. Strategic thinking
and system thinking are two integrated aspects and it is imperative to acknowledge the
operations of every part of the system to identify the influence on various aspects. “One of
the major developments in how we comprehend and direct change in our organisation is
system thinking and system theory” (GIZ Global Campus 21 Academy, 2015).
For accepting the significance of both strategic and system thinking in a business enterprise,
it is important to know what systems are. In addition, for evaluating system tools and
strategic system thinking in business, we need to first explicitly define both systems and
strategies and that requires understanding of various approaches in relation with strategic
thinking and system thinking. Complexity perspectives and complex adaptive system is also
stated below and this will help us to gain knowledge regarding the complexity of
organisational system and its various related aspects.
Strategic Thinking
According to Parsons and Titman (2008), corporate strategy is termed as the direction an
organisation takes with the goal to gain business success in the long run as this will benefit
for the business organisations in aid with various resources in, align with the changing
environment to meet the expectations of customers and stakeholders.
Strategic thinking simply refers to the thinking about the strategy. As per Goldman and Casey
(2010), “strategy thinking involves thinking concerning the values, purpose in aligns with
individuals processes and other resources”. Goldman (2012) argued that strategic thinking is
related to the business strategic growth, through inventiveness and innovation to develop a
vision for a business future. Strategic thinking also helps organisation in determining

STRATEGY 3
competitive approaches to position enterprise future direction based on forecast environment
circumstances.
There are five elements in the strategic thinking and in the face of complex and dynamic
business environment, organisation take advantage of strategic thinking to move forward as
their vision and successful future. It also assesses the current state of the organisation (where
the organisation is) and the future state (where it want to be) and explores the gap for creating
alternate approaches for providing solutions (Pagani, 2009). It helps the management to look
at the business goals and the procedure to gain these goals. Moreover, a strategy would be
improved with the help of system thinking, as it will explore every aspect of the business and
bring several benefits in form of sustaining competitive edge in the industry.
The strategies implemented by management for attaining the set objectives are greatly
influenced by their perception in relation to the business environment. Ansell and Gash
(2008) state that strategies may be formally organised that focus on central direction and
hierarchies. This also links with strategic planning with involvement of only top management
of an organisation. The two sorts of strategies i.e. emergent and deliberate differ from one
another in various aspects. Deliberate strategy is process based build by synergetic efforts and
usually enforced on operational processes. Emergent strategy evolved from daily events and
decisions adaptive to a situation where the business dynamically refines their strategies as
opportunities and practical information (Bodwell and Chermack, 2010).
Strategic thinking is an approach in which the leaders in organisation think and builds the
future for their enterprise. It also is known to be as proactive process focuses on anticipating
long-term issues and opportunities for the business. It helps the business to adopt new
environment changes in align with the organisational vision.
Systems Thinking
System thinking is a part of every step of a strategic process in order to help the enterprise to
sustain in this competitive environment. The advancement of system thinking is taken by the
management operating in multifaceted dynamic environment. In addition, management plays
a significant role in the transformation exertions of an enterprise (Augier and Teece, 2009).
Leadership is also needed to clinch change and build an qualifying setting that reassures