Strategic Thinking

Abstract

This study attempts to address the present concern on the value added by strategic planning to orientate the adoption of strategic decisions by top management team, and how to overcome it with a strategic thinking. Since learning to think strategically can be understood as equivalent to learning to make strategic decisions, the first step is to define what strategic decisions are and what are the drivers that shape them. This chapter revises the different paradigms have been applied to the analysis of the complex nature of strategic decisions and the factors that influence them). The review of these explanatory frameworks for the strategic decision-making process starts with the rational-analytical model of strategy, based on strategic planning, before then reviewing and criticizing it from the perspective of the adaptive, satisficing, cultural, political and visionary strategic approaches. Third, the authors attempt to provide a well-founded explanation of what strategic thinking is and what skills are required of people who want to develop powerful strategic thinking.