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This is indeed a wonderful tool for learning! This is regarded as a benefit in highly competitive and fast-changing business landscapes. 1963 that strategic thinking “is a mental process, at once abstract and rational, which must be capable of synthesizing both psychological and material data. There is no generally accepted definition for strategic thinking, no common agreement as to its role or importance, and no standardised list of key competencies of strategic thinkers. Most agree that traditional models of strategy making, which are primarily based on strategic planning, are not working. However, both thought processes must work hand-in-hand in order to reap maximum benefit. In the view of F.
Graetz’s model holds that the role of strategic thinking is “to seek innovation and imagine new and very different futures that may lead the company to redefine its core strategies and even its industry”. Strategic planning’s role is “to realise and to support strategies developed through the strategic thinking process and to integrate these back into the business”. Mintzberg argued that strategic thinking cannot be systematized and is the critical part of strategy formation, as opposed to strategic planning exercises. Only the shape of the future can be predicted.