BMS4667 Laboratory Leadership and Management Dr. David Ricketts

MSc/PgDip Biomedical Science

Postgraduate Course Feedback Lesson 2: Thinking and planning strategically

Learning outcomes Understand the difference in mind sets for thinking strategically Understand forward planning Understand the need for milestones and reviews

Strategic thinking the wiki view Strategic thinking, a key thought process of strategic management framework; is defined as the generation and application of unique business insights and opportunities, to create competitive advantage for a firm or organisation. It can be done individually, as well as collaboratively among key people who can positively alter an organisation's future. Group strategic thinking create more value by enabling a proactive and creative dialogue, where we gain other people's perspectives on critical and complex issues which is an important benefit in today's highly competitive and fast-changing business landscape

Strategic planning the wiki view Strategic planning is an organisation's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. In order to determine the direction of the organization, it is necessary to understand its current position and the possible avenues through which it can pursue a particular course of action. Generally, strategic planning deals with at least one of three key questions: "What do we do?" "For whom do we do it?" "How do we excel?" In many organisations, this is viewed as a process for determining where an organisation is going over the next year or—more typically—3 to 5 years (long term), although some extend their vision to 20 years.

Group dicsussion What are the differences between the two in terms of thought process?

Vision Strategic thinking looks at the future and predicts scenarios and aspirations and tries to mould them Strategic planning looks at what is known and more certain and applies resources to that model. It is more specific and predictable than the thought process used in thinking

Formulating plans and implementing them Strategic thinking This has to be interactive by definition with changes made as new ideas are inputted Strategic planning This is more structured with individuals and organisations given tasks and roles based on the plan

Management Strategic thinking A wide variety of input and suggestions as blue sky thinking is essential and gathering business intelligence is required. Strategic planning A top down approach of assigning tasks and not everyone necessarily needs to know everything

Process Strategic thinking Planning is a critical value adding part of the whole process Strategic planning The objective is to come up with the plan

The Harvard view Watkins in 2007 blogged about the skills needed to develop strategic thinking Immersion Mentoring Simulations Game theory training Case-based education Cognitive reshaping

Immersion Watkins argued you need time to immerse yourself in a given field to be able to think strategically It is difficult to achieve if you move from project to project or field to field A deep understand of the now is needed to predict the future direction of an industry This I describe as business intelligence

Mentoring It is important to help develop the strategic thinking mind set by using a mentor. Bounce ideas off of each other and develop the thought processes. The mentor must have a track record in strategic thought rather than just a higher pay grade!

Simulations Run through scenarios or use commercial packages to develop the skills. This allows reruns and adaptations to the thought processes. A low tech option is a table top exercise with a moderator.

Research Review the literature and engage with senior management. To strategically think you must understand the direction you peers and you industry is looking ot move in and plan scenarios around that.

Class exercise Strategic thinking for developing a service making widgets. Discuss how, what and when.

Strategic planning (taken from smartdraw.com)

Planning phase Decide who leads Decide who is on the team Decide how to feedback Decide how to manage conflict and disagreements

Analysis map (from the same source)

Divide roles

Plot issues

SWOT analysis Strengths Weaknesses Opportunities Threats

Plan

Milestones and reviews What is a milestone? When do you review? Gantt charts

Gantt chart

Questions Thank you