A new model of strategic thinking competency

Purpose This paper seeks to present new insights into strategic thinking, proposing a model of strategic thinking competency. Design/methodology/approach To find new knowledge, the research applies the Straussian grounded theory research method using multiple sources and techniques of data inquiry: in‐depth interviews, observations, literature review, and related published documents. The sample cases are business leaders of leading high growth companies in their respective markets, representing eleven different industries in Thailand. Findings Among many new knowledge, the study found seven characteristics of strategic thinking that impacts strategy formulation, strategic actions, and business performance: conceptual thinking ability, visionary thinking, analytical thinking ability, synthesizing ability, objectivity, creativity, and learning ability. This set of abilities and skilled are termed “strategic thinking competency”. Research limitations/implications In‐depth interview data inquiry method has potential bias towards positive information. Although the study covers many industries, the small number of sample cases limits degree of generalization. A constraint of qualitative research method in interpretation of the results is reduced by comparing empirical results to the literature. Practical implications The “strategic thinking competency” model offers a framework for developing strategic thinking of business leaders and managers which contributes to better strategy and better business performance. Human resource developers may apply the model for designing training programs to develop better strategic thinkers. Social implications Better strategic thinking could help improving efficiency and effectiveness of business and general management. Originality/value The study introduces a model of “Strategic Thinking Competency” with seven characteristics, proposing a new way of defining strategic thinking.