Assignment #1: Strategic Thinking, Project Management and Their Importance to the Strategic PlanDevelopment and Implementation Process (Individual Assignment)In this assignment, the student will...

Running Head: DEVELOPMENT AND IMPLEMENTATION PROCESS            1
DEVELOPMENT AND IMPLEMENTATION PROCESS                    4
ASSIGNMENT #1: STRATEGIC THINKING, PROJECT MANAGEMENT AND THEIR IMPORTANCE TO THE STRATEGIC PLAN
Table of Contents
Introduction    3
Definition of Strategic Thinking    3
Definition of Project Management    5
Importance to the Strategic Plan Development and Implementation Process    9
Key Stakeholders    10
Conclusion    11
References    12
Introduction
Strategic thinking and project development both are two very important processes in an organization. The strategic thinking process involves extensive thinking on a certain matter or decisions, which can enable the organization, evolve. An organization is based on the success of different projects. With time, if the project quality can be increased then it will be better for any organization or industry in the longer run. This is the age of globalization and the market competition is fierce.
In order to stabilize the position within the market it is very important for the organizations to focus on the two most important variables, which are strategic thinking process and the project development procedure. The strategic thinking procedure helps to smoothen the decision making process within the organization, whereas the project development can make the organizational standards higher. This report will discuss about the concepts and the effectiveness of the strategic thinking process within the organization in order to provide great understanding on this topic.
Definition of Strategic Thinking
Strategic thinking is a very important part of any kind of organization. Strategic thinking is basically a planning process that discusses the upcoming steps and measures that the organization should take for the betterment. Other than that, the strategic thinking also helped in the innovative ideas to grow within the organization. The higher level of executives is involved in the strategic thinking process initially. This can help them to foresee the risks and the hazards that can come through while implementing a specific plan. In this way, the strategic planning helps the organization to grow from within.
An organization carry out different types of activities and that is the reason why every activity needs a specific set of strategic planning so that there will be no problems in the future while executing plan. Strategic thinking is comprised of two basic thinking, which are the what and why. Before taking the decision, the organization or the authorities needs to ask themselves whether they want to apply this decision or not. This final confirmation can be done through these two questions. Before taking the decision the authorities needs to ask themselves what will be the possible outcome of the decision or the plan. If the answer is satisfactory then the organization can move on with their plan.
If the answer is not that overwhelming then more changes and improvisation should be made in this context. Another question about this is the why behind every plan. If the reasons have clarity and integrity then the plan can be implemented without any hesitation (Nickols, 2016). This is a very crucial part of the strategic thinking and planning process, which needs to be executed within the organization. In this way, the decision-making process will acquire the proper stability and platform within the organization. Other than that, this will also work for the betterment of the organization in near future.
Strategic planning also includes the process of identifying the important members and the contribution of the different entities within the organization. The resources, which can be important for the upcoming event within the organization, are also identified through the strategic planning process. The strategic planning stands for the proper strategic to be implemented for the welfare of the organization itself. In this way, the different factors can go well for the betterment of the organizational planning. The strategic planning also deals with the inner environment of the organization. That is the reason why the strategic planning should be a very important part of the organization.
Other than that, strategic planning can also involves the identification of scopes and opportunities in the market circumstances (Al-Jawarneh, 2016). The people who have the power within the organization need to exhibit their potential in the strategic thinking process. The strategic thinking involves the contribution of the higher authorities. Along with that it much not be forgotten that the employees of the basic level have also important contribution within the organization. Focusing on the demands of the employees and the customers are also a part of the strategic thinking process.
    From the above discussion, the basic concept of the strategic thinking and the strategic planning can be derived in the context of the specific organization. Without the strategic thinking, the company or the industry cannot grow or improve. That can be harmful for the stability the organization needs to acquire to survive the fierce market competition within the international and local market context (Dhir, Dhir & Samanta, 2018). Another variable that goes hand in hand with the strategic thinking process is the project development procedure. The inner concept and the effectiveness of the project development aligning with the strategic thinking process will be discussed below. This will give brief...