Search

Strategic thinking and strategic planning are usually used in a manner that elicits confusion. Strategic thinking is typically utilized to pertain to analytical, calculative activity, while strategic planning is generally used to pertain to a creative mental activity. However, although most authors are using both terms as per their accepted usage, there are other writers who utilize these terms in basically dissimilar approaches. A thorough analysis of available literature reveals that both terms have united, yet connected and supplementary mental processes.

A conference held in Budapest, Hungary, in Nov 1997 dealing with business innovation in Europe was attended by such noted social scientists and authors as Alvin Toffler and Tony Buzan. These and other speakers concluded that European firms can ride on the so-called 'third wave economy' effectively and even lead the rest of the world through a focus on human resource development. The key to power in the future is knowledge and its use as a driving force for information technology.

The Hay Management Consultants International Client Conference held in Nov. 1996 in Vienna focused on how Europe can become a successful competitor in the global economy. The main topics during the conference were the pursuit of effective leadership and the implementation of good change management in the rapidly transforming environment. It was pointed out that human resources function should play a more strategic role to enable European organizations to achieve sustainable competitive advantage.