Developing Strategic Thinking Essay Example | Topics and Well Written Essays - 2000 words

Developing Strategic Thinking - Essay Example The major competition came with the advent and enhancements of Google as it took the major chunk of the market share from Google, with its ever innovative stance towards its competition and Google did give a tough time to Yahoo. The biggest competition came with the innovative features and benefits that Google mail provided, compared to Yahoo mail. However, after suffering and losing its market share to Google, Yahoo began its revamping projects and today is doing quite well, in the existing competitive arena. Yahoo can actually be translated to be called as a SMART company2. SMART stands for Specific, Measurable, Achievable, Realistic and Timed3 – SMART objectives seek to define the future of a business alongside control. These are defined to mark long-term objectives and long-term goals of an organization. Yahoo or any other business would only be defined as SMART if it corporate these towards its strategic objectives. Fundamentally, this implies that the goals are precisely stated (specific), quantifiable (measurable) so easy to compare the achievement level, realizable (achievable) in terms of the possibility to attain them, practical (realistic) in viability, and specifically having a time horizon (timed) associated to it4. The business that sets its strategic goals using this benchmark is considered to be a SMART company. When it comes to the information technology-oriented structure of the industry such as the one in which Yahoo prevails, the significance of applying SMART objectives increases drastically, mainly because such industries are ever changing with drastic changes coming in, the out of the box ideas bringing in extreme changes overnight.  Assuming the example of Bill Gates who aimed at having a computer on palms of every user, and palm-tops has gained the momentum in sales today.