Applying Visionary Thinking to Strategy

Vision plays a critical role as a new element of strategic thinking and visionary thinking forms part of strategic management. However, vision is not just an inspiring story told and shared, it is an action program to be realised. The power of visionary thinking lies in it’s a synoptic and integrative approach to strategy. Visionary thinking is an intrinsic part of an advanced and participatory form of strategic management. It involves the creation and successful fulfilment of a dynamic and shared vision of how the organisation can and should – meet new challenges.

Visionary action would include:

Visionary decisions are appropriate when the future is assumed to include discontinuities and when the arena of opportunities is assumed to be generically uncertain. Visionary companies compete with their strategies. New skills and visionary thinking are needed to reframe the business, the purpose is to maintain the excellence of performance, create novel options, and provide for survival in the long run.

The application of visionary thinking is always proactive. It strives to define new business areas for the company and it comprises the creation of new capabilities and organisational competence and the acquisition of new expertise and skills. The visionary thinking process ends up with a clear vision to renew strategic options and position the company in the industry.