In the global marketplace, intuition and strategic analysis both play a crucial
role in effective strategic decision making. In various firms, intuitive process is
used under the strategic management to develop effective decisions for
attaining organizational goals and objectives. Intuition indicates to solve the
problem with the help of using sensing and without using rational process. It can
be discussed as a process to reach at the conclusion with the help of fewer
information those are required for taking appropriate decisions. It is a built-in
capacity that is used by the individuals to reach at the solution of the problem
effectively. At the same time, it is negatively related with the stable competitive
environment. Intuition is used as a business tool in many organizations to conduct
and run the business successfully.
None of us starts a career with the expertise we need. We learn as we go, we
develop the intuitive thinking skills we need. Some of us broaden our skills better
than others because we pay attention, notice what works and what doesn’t, and
build a repertoire of experiences (both good and bad). The first way to attain a
proficient intuitive thinking are: First, be the best. There’s no guarantee you’ll be
an intuitive savant, but this strategy is backed up by empirical evidence. Pay
attention to your first impulses when faced with a tough call. Second, use
analysis to support your intuition. Imagine which actions your impulse suggests
taking; then anticipate what could conceivably go wrong. Third, put more energy
into understanding he situation than into deliberating over what to do. Fourth,
don’t confuse desire with intuition. Intensely wanting something to happen is not
a reason to ignore commonsense intuition. Fifth, override your intuition. When it
misleads you. Intuition is fallible. Your mind excels at holding onto inaccurate
beliefs and faulty biases. Try forming an alternate story to get unstuck from a
stubborn mindset. Sixth, think ahead. Intuition helps us create expectations,
connect the dots, flag inconsistencies and warn us of potential problems. A “pre-
mortem” discussion helps teams run through a strategy to see how it will play
out. In short, learn to foresee problems. Seventh, use the right decision-making
strategy. There’s a time to rely on intuition and a time to analyze all of the factors
that go into a decision. If the issues are complicated and no one has good
intuitions about the situation, analysis makes more sense. Lastly, consult the
experts. If you’re in unfamiliar territory, learn to trust the intuitions of experts
with experience. Experts will see cues you won’t notice and will introduce options
you may never envision. Strategic thinking skills are any skills that enable you to
use critical thinking to solve complex problems and plan for the future. These
skills are essential to accomplish business objectives, overcome obstacles, and
address challenges—particularly if they’re projected to take weeks, months, or
even years to achieve. There are four ways to attain proficient in strategic analysis
are: First, ask strategic questions. If you want to improve your strategic thinking
skills, one of the simplest things you can do is ask more strategic questions. Doing
so allows
you to exercise your planning skills, become adept at spotting opportunities, and
develop a more strategic mindset you can leverage throughout your career.
According to the Harvard Business School Online course Disruptive Strategy,
strategic questions can relate to a challenge, opportunity, or ambiguity you face
in your current situation, whether personal or professional. They might, for
instance, relate to launching a new business or product, beating a competitor, or
structuring your organization for innovation. Second, observe and reflect. In
addition to asking strategic questions, you need to answer and address them
skillfully. One of the most effective ways of accomplishing this is to observe and
reflect on your current situation, ensuring any strategy you conceive is grounded
in facts. Instead of blindly following an assumption, gather as much information
as possible to use when crafting your strategy. Understanding why new customers
are attracted to your product can enable you to tailor your marketing strategy
and product development to better embrace their needs. Third, consider
opposing Ideas. Once you’ve landed on a strategy that can help your organization
reach its goals, question your assumptions, and put your hypothesis through
rigorous testing. By doing so, you can ensure you’re not overlooking another
possibility. Playing devil’s advocate with your ideas can allow you to preemptively
identify weaknesses in your argument, and equip you to defend your strategy
when others ask questions. It can also help you sharpen the logic skills you need
to communicate and execute your strategy. To develop this skill, get in the habit
of questioning yourself any time you’re about to make an assertion. Should you
consider a different perspective? Is there another possibility you may have
overlooked? Lastly, embrace formal training. By practicing the methods described
above, you can improve your strategic thinking skills at your own pace. However,
there are other learning options you can pursue. If you need to quickly ramp up
your strategy skills—to address a pressing need your organization is facing,
position yourself for a new role, or finally launch your own business—formal
training might be your best option.
Intuition and analysis are genuine management tool in the strategic decision
making, as these are interrelated with the managerial skills and knowledge to
solve the high degree of organizational issues. Although, intuition is important
part of the firm’s strategies, yet there are some barriers on this those indicate to
the loophole of this concept in strategic decision-making process. The first barrier
is related to understand the meaning of intuition and confusion about it in
context of surrounding.
