Compare and contrast conventional strategic planning concepts with those of strategic intent thinking. Discuss how the differences in conventional strategic planning and strategic intent thinking concepts can lead to better business strategy practice.
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Conventional strategic planning is a guide that a business creates to map out or outline how it plans to reach its goals so that a foundation can be set for the whole organization to understand what will happen and what the company expects them to do. It is like a 'recipe' which states what to do and what resources to utilize to achieve the vision for the target market, and the company can serve their customers effectively, consistently, and profitably. It can also serve as a systematic, a management tool that management can use for problem solving, product development, market planning, and preparing business plans. The plan also aims to integrate all the aspects of the activities of the business in a system that is mutually supportive.
In contrary, strategic intent is not about planning but it arises when there is an ambition that is out of all proportion to resources and capabilities. Few characteristics of managers who think with 'strategic intent' have the quest for global leadership and obsession with winning to be able to achieve their goals. With these characteristics and a very motivated and inspired mindset, firms were able to capture the essence of being a winner, stability over time, ...
The solution compares and contrasts conventional strategic planning concepts with strategic intent thinking and how the differences can lead to better business strategy practice. References are included.