Strategic thinking and decision making: literature review
Purpose ‐ The paper seeks to examine both management and psychological literature on strategic decision making. Design/methodology/approach ‐ A review of the management and psychological literature is undertaken, with particular focus
on factors affecting strategic decision making. Findings ‐ The literature review reveals that managerial cognition as well as individual and corporate values can have an impact on strategic decision making. The review also finds that strategic competencies are important
although there is no agreement within the literature on what those competencies are. Originality/value ‐ Strategic thinking and strategic decision making have been discussed within the psychological and management literature for decades. Psychological and management
theoretical perspectives and empirical research have been discussed separately and failed to consider both together. The current paper reviews both psychological and management literature to provide an understanding of the strategic thinking and decision making process and factors that may
affect the process.
Keywords: Competencies; Individual values and beliefs; Organizational culture; Psychometric-objectivist model; Strategic decision making; Strategic management; Strategic thinking
Document Type: Research Article
Publication date: 09 August 2011
- Access Key
- Free content
- Partial Free content
- New content
- Open access content
- Partial Open access content
- Subscribed content
- Partial Subscribed content
- Free trial content