About This Chapter
Strategic Thinking in Making Business Decisions - Chapter Summary
Strategic, critical and creative thinking are all important factors when making business decisions. This mobile-friendly business chapter outlines several thinking methods/strategies that organizations and managers use to make effective decisions. The chapter also covers the five attributes of strategic thinkers. When you're finished with a lesson, try the accompanying self-assessment quiz to make sure you fully understand the information. We've also included an Ask the Expert feature if you need any extra help with the material. When you're finished working through the lessons and quizzes, you should be equipped to:
- Define strategic business thinking, critical thinking, brainstorming and big-picture thinking
- Recognize the attributes and habits of strategic thinkers
- Explain why creative and critical thinking is important in business contexts
- Describe the importance of creative decision making
- Summarize the history of the Blue Ocean Strategy and theory of Blue Ocean Leadership
1. Strategic Business Thinking: Definition & Examples
During this lesson, we'll define the term 'strategic business thinking' and provide examples of the process. The lesson will also expound on each component that makes up strategic business thinking.
2. The Five Attributes of Strategic Thinkers
There are five key attributes that strategic thinkers use to manage their businesses. Use the steps and examples in this lesson to strengthen your own strategic thinking skills.
3. Habits of Strategic Thinkers
Developing the habits of a strategic thinker can change mediocre plans into exceptional ones. This lesson provides helpful suggestions for becoming a strategic thinker.
4. What is Critical Thinking? - Definition, Skills & Meaning
Critical thinking is a term that we hear a lot, but many people don't really stop to think about what it means or how to use it. This lesson will tell you exactly what it means and make you realize that the average person largely ignores critical thinking.
5. Creative & Critical Thinking in Business: Importance & Examples
Businesses are aware that the need for creative and critical thinking is essential to their success. This lesson explains creative and critical thinking and shows the importance of both in business.
6. Creativity in Decision Making: Importance & Examples
Creativity can take many forms, including the way that decisions are made for business success. Understanding the process of making creative decisions - and implementing some steps to improve your creativity - can help you make better decisions.
7. Brainstorming & Other Big Picture Thinking Strategies
Brainstorming, removing boundaries and focusing on possibilities are just a few ways to increase big picture thinking in a business. This lesson focuses on coming up with innovative, fresh ideas and solutions in business.
8. What is the Blue Ocean Strategy? - History, Definition & Example
Companies often compete with one another to gain shares in crowded markets, but what if there was a more effective way? In this lesson we look at a different approach: the Blue Ocean Strategy, which avoids competing and instead looks to create demand in untapped markets.
9. The Theory of Blue Ocean Leadership
Blue Ocean Leadership Theory discusses how management should see their employees as customers to whom they are offering a service of effective leadership.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Business 316: Strategic Decision Making course
- Introduction to Strategic Decision Making
- Decision Making Models for Business
- Statistical Tools for Decision Making
- Quantitative Tools for Decision Making
- Financial Data for Strategic Decision Making
- Technological Support for Strategic Decision Making
- Strategic Decision Making & Risk Management
- Group Dynamics in Strategic Decision Making
- Strategic Decision Making for Managers
- Decision Making in International Businesses
- Analyzing Business Decisions
- Communication in Strategic Decision Making