Managers’ Strategic Thinking: Essence, Problems and Approaches to Development

Abstract

The article considers the problem of developing managers’ strategic thinking in modern business education. Developing the ability to think strategically is one of the most needed, yet least understood areas of management. The purpose of the article is to reveal the essence of managers’ strategic thinking and also to show problems and approaches to developing strategic thinking in modern business education. The methodology of research is based on the methods systematic substantial analysis, systematization and generalization. The substantial analysis of literature and the critical review of evolution of approaches to understanding and treatment of managers’ strategic thinking are presented in the article. Until recently managers’ strategic thinking was treated as ability. During the past decade it has started being considered as a set of competences which are expected from managers. The essence of strategic thinking of managers is revealed, its main characteristics and components that provide understanding of the process of strategic thinking are shown. The problems disrupting the development of strategic thinking during training of managers are considered. The article provides understanding of strategic thinking competency, systematization and synthesis of its main characteristics and key components of strategic thinking that impact strategy formulation, strategic actions and business performance. Practical implications: the integrated approach to developing managers’ strategic thinking in modern business education which is based on competence-based, situational and process approaches is offered. The findings are of interest for such areas as Business Education, Strategic Management, and Strategic Human Resources Management.