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Strategic Thinking and Risk Attitude

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Strategic Design and Innovative Thinking in Business Operations

Part of the book series: Contributions to Management Science ((MANAGEMENT SC.))

Abstract

In recent years, strategic thinking and risk attitude are demonstrated among the most interesting topics in strategic management literature. However, when the literature on the subject is examined, it is seen that there is not enough comprehensive correlational studies, although it is understood that there is significant logical linking between the two subjects. The purpose of this study is to explore the relationships between strategic thinking and risk attitude, to carry out a pioneering step towards filling this gap in the literature and to encourage further work. Qualitative research method will be used in the study and conceptual association will be done by analyzing the secondary sources with the document review technique.

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Author information

Authors and Affiliations

  1. Faculty of Business, Düzce University, Düzce, Turkey

    Yunus Emre Taşgit & İstemi Çömlekçi

  2. Düzce University, Düzce, Turkey

    Kübranur Çakır

Authors
  1. Yunus Emre Taşgit
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  2. İstemi Çömlekçi
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  3. Kübranur Çakır
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Corresponding author

Correspondence to Yunus Emre Taşgit .

Editor information

Editors and Affiliations

  1. Istanbul Medipol University, Istanbul, Turkey

    Hasan Dincer

  2. Istanbul Medipol University, Istanbul, Turkey

    Ümit Hacioglu

  3. Istanbul Medipol University, Istanbul, Turkey

    Serhat Yüksel

Key Words Definitions

Strategic thinking

It is a synthesis process that basically associated with all these concepts that can be labeled as “strategic” and focused on findings and developing unique opportunities to create value by building a provocative and innovative dialogue among those who can influence a company’s vision.

Strategic thinking process

The process is consisting of three stages in it many of critical subject are taken into consideration: Firstly, asking influential questions to produce innovative options, Secondly, redirecting to activate the arrangement, Thirdly, thinking about alternative assumptions and research results.

The Elements of Strategic Thinking

There are five elements; system perspective, intent focused, intelligent opportunism, hypothesis-driven, thinking in time.

Strategic thinker

He is a person who has five basic features / habits such as entering game, accepting confusion and contradictory thoughts, assuring mental calm, managing thoughts, developing expression clarity.

Strategic Thinking and Managerial Competencies

In order to integrate strategic thinking into the organization as a critical element for achieving and sustaining organizational success, there are four areas of competence; organizational analysis, vision shaping, strategy formulation and organizational design can be used by high-performance managers.

Risk

It is defined as the probability of encountering unexpected outcomes in the future and includes both positive and negative deviations between the expected value and the actual value.

Risk management

It is defined as the planning, organization, management and control of the necessary resources and activities for controlling with the least cost the negativity and damages that may arise in the enterprises.

Risk Attitudes

The attitudes that a pattern of behaviors and repetitive behaviors that individuals possess to avoid from the risk or to take risk. They are influenced by factors such as the level of knowledge about the markets, past work experience, potential future business opportunities, age, gender, educational status and etc.

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Taşgit, Y.E., Çömlekçi, İ., Çakır, K. (2018). Strategic Thinking and Risk Attitude. In: Dincer, H., Hacioglu, Ü., Yüksel, S. (eds) Strategic Design and Innovative Thinking in Business Operations. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-319-77622-4_13

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