Effective Experiences in Developing Managers' Strategic Thinking: A Phenomenological Approach

Document Type : Research Paper

Authors

1 Associate Prof., Department of Leadership and Human Capital, Faculty of Public Administration and Organizational Sciences, College of Management, University of Tehran, Tehran, Iran.

2 Ph.D. Candidate, Department of Leadership and Human Capital, Faculty of Public Administration and Organizational Sciences, College of Management, University of Tehran, Tehran, Iran.

3 Associate Prof., Department of Public Administration, College of Farabi, University of Tehran, Qom, Iran.

4 Assistant Prof., Department of Business Management, Faculty of Business Management, College of Management, University of Tehran, Tehran, Iran.

Abstract

Objective
Strategic thinking, long recognized as essential for organizational success, is increasingly vital across various levels of management. This cognitive skill enables organizations to adeptly navigate and manage changing environmental dynamics, thus sustaining competitive advantages. Traditionally viewed as a senior management prerequisite, the need for strategic thinking has expanded to lower organizational echelons in response to escalating environmental complexities. This capability equips managers with the foresight to comprehend, anticipate, and strategically respond to future events. Instead of merely reacting to changes, effective strategic thinking empowers managers to proactively shape and influence these dynamics. Research on the developmental trajectory of strategic thinking is notably limited. A comprehensive understanding of how managers evolve into skilled strategic thinkers is a multifaceted endeavor, warranting exploration from diverse viewpoints. This study is dedicated to examining the evolution of strategic thinking, particularly focusing on the experiential dimension. It seeks to identify and elucidate the specific experiences and their impactful attributes that contribute to the cultivation of strategic thinking among managers in Iran's burgeoning financial technology (Fintech) industry.
Methods
Adopting a qualitative methodology, this research is anchored in the descriptive phenomenological approach, with an emphasis on deeply understanding experiences as they naturally occur. To uncover the nuances of how managers in the Fintech industry develop strategic thinking skills, the study utilized semi-structured interviews. These interviews were meticulously designed to align with the research objectives, offering participants the opportunity to richly reconstruct and reflect upon their relevant experiences. Participant selection employed non-probability and purposive sampling methods, complemented by snowball sampling to ensure a comprehensive representation. The study engaged 14 senior managers in the financial technology sector, delving into their personal and professional journeys. Data analysis was conducted using the Colaizzi method, which involves a thorough process of transcribing interviews, detailed reading and re-reading of the transcripts, extracting significant statements, and formulating meaningful interpretations for each statement. This process also entailed organizing these interpretations into coherent thematic clusters, integrating these themes into a holistic description of the phenomenon, and delineating the fundamental structure of the experience. Crucially, the research findings were presented back to the participants for validation, allowing for any necessary refinements to ensure accuracy and authenticity.
Results
This research successfully identified seven distinct and impactful experiences contributing to the development of strategic thinking among managers in Iran's Fintech industry, alongside the defining characteristics of these experiences. These pivotal experiences encompassed a range of factors: openness to new experiences, mentorship support, leadership in critical and challenging situations, a strong emphasis on personal development, extensive networking and communication, encountering and overcoming critical challenges, and leveraging failure as a tool for growth and development.
Conclusion
This study contributes to the existing body of research underscoring the significance of experiential learning. Conducted within the specific context of Iran's financial technology industry, the findings corroborate the instrumental role of experiential learning in the evolution of strategic thinking capabilities. The validity and reliability of the research outcomes were further reinforced through participant validation, ensuring the findings authentically represent the experiences and perceptions of those involved

Keywords


 
Alatailat, M., Elrehail, H., & Emeagwali, O. L. (2019). High performance work practices, organizational performance and strategic thinking: A moderation perspective. International Journal of Organizational Analysis, 27(3), 370-395.
AlQershi, N. (2021). Strategic thinking, strategic planning, strategic innovation and the performance of SMEs: The mediating role of human capital. Management Science Letters, 11(3), 1003-1012.
Bayazi Tahraband, A., Kordnaeij, A., Khodadad Hossaini, S.H. & Danaeifard, H. (2019). Identifying and Conceptualizing the Consequences of Strategic Thinking. Iranian Journal of Management Sciences, 13(52), 1-21. (in Persian)
Beck, C. T. (2019). Introduction to phenomenology: Focus on methodology. Sage Publications.‏
Bonn, I. (2005). Improving strategic thinking: A multilevel approach. Leadership & Organizational Development Journal, 26, 336-354.
Colaizzi, P. F. (1978). Psychological research as the phenomenologist views it. In Ronald S. Valle & Mark King (eds.), Existential-Phenomenological Alternatives for Psychology. Oxford University Press. pp. 6.
Creswell, J.W. (2003). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches (2nd Ed.). Thousand Oaks, CA: SAGE Publications.
Dhir, S. & Dhir, S. (2020). Modeling of strategic thinking enablers: a modified total interpretive structural modeling (TISM) and MICMAC approach. International Journal of System Assurance Engineering and Management, 11(1), 175-188.
Dhir, S., Dhir, S. & Samanta, P. (2018). Defining and developing a scale to measure strategic thinking. Foresight, 20(3), 271-288.
Dixit, S., Singh, S., Dhir, S., & Dhir, S. (2021). Antecedents of strategic thinking and its impact on competitive advantage. Journal of Indian Business Research, 13(4), 437-458.
Ebrahimi, E. (2021). Understanding the Meaning of Queen Bee Syndrome Phenomenon from the Perspective of Women Working in a Public University: A Descriptive Phenomenological Approach. Public Organizations Management, 9(2), 31-46.
(in Persian)
Ericsson, K. A., Prietula, M. J., & Cokely, E. T. (2007). The making of an expert. Harvard business review, 85(7/8), 114.‏
Goldman, E. F. & Casey, A. (2010). Building a culture that encourages strategic thinking. Journal of Leadership & Organizational Studies, 17(2), 119-128.
Goldman, E. F. (2007). Strategic thinking at the top. MIT Sloan management review, 48(4), 75-81.
Goldman, E. F. (2008). The power of work experiences: characteristics critical to developing expertise in strategic thinking, Human Resource Development Quarterly, 19(3), 217-239.
Goldman, E. F. (2012). Leadership practices that encourage strategic thinking. Journal of Strategy and Management, 5(1), 25-40.
Goldman, E., Cahill, T. & Filho, R. P. (2009). Experiences That Develop the Ability to Think Strategically. Journal of Healthcare Management, 54(6), 403-417.
Haycock, K., Cheadle, A. & Bluestone, K. A. (2012). Strategic Thinking and Leadership. Library leadership & management, 26(3/4), 1-23.
Johnson, P., Daniels, K. & Huff, A. (2001). Sense making, leadership, and mental models. In S. J. Zaccaro & R. J. Klimoski (Eds.). The nature of organizational leadership: Understanding the performance imperatives confronting today's leaders (pp. 79–103). Jossey-Bass/Wiley.
Karami, A., & Gorzynski, R. A. (2022). Connection to nature and sustainability in small and medium-sized environmental organizations: A dynamic strategic thinking approach. Business Strategy and the Environment, 31(1), 371-389.
Kolb, D. A. (1984). Experiential learning: Experience as the source o f learning and development. Upper Saddle River, NJ: Prentice Hall.
Liedtka, J. M. (1998). Strategic thinking: can it be taught? Long range planning, 31(1), 120-129.
Marshall, C., & Rossman, G. (2006). Designing Qualitative Research (4th Ed.). London: Sage Publications.
Mason, J. (1986). Developing Strategic Thinking. Long Range Planning, 19(3), 72-80.
McCall, M. W. & Hollenbeck, G. P. (2008). Developing the expert leader. People and Strategy, 31(1), 20-28.
Mehdi Zadeh Rostam, M., Mohebbi, M., Behzadi, M., Zarei, M. & Sanaei, N. (2021). Investigating the Impact of Strategic Thinking and Organizational Change and Reducing Burnout. New Business Attitudes, 2(5), 92-117. (in Persian)
Mellon, J. & Kroth, M. (2013). Experiences That Enable One to Become an Expert Strategic Thinker. Journal of Adult Education, 42(2), 70-79.
Merriam, S. (2009). Qualitative Research: A guide to design and implementation. San Francisco, CA: Jossey-Bass.
Mintzberg, H. (1994b).The fall and Rise of Strategic Planning. Harvard Business Review, 72(1), 107-114.
Nickols, F. (2016). Strategy, strategic management, strategic planning and strategic thinking. Management Journal, 1(1), 4-7.
Noe, R.A., Hollenbeck, J.R., Gerhart, B.A. & Wright, P. M. (2017). Human Resource Management: Gaining a Competitive Advantage (10th ed.). New York: McGraw-Hill Education.
Olaleye, B.R., Bojuwon, M., Ibrahim, R.I.M., Ali-Momoh, B.O. (2021) Nexus between strategic thinking, competitive intelligence and innovation capability: Managerial support as a moderator. Journal of Intelligence Studies in Business, 11 (3) 27-41.
O'Shannassy, T. (2006). Making Sense of the Strategic Thinking Literature to Help Build a New Model of this Mystrious Construct, Paper presented in ANZAM Conference, 2006, Queensland.
Robinson, G.S. & Wick, C.W. (1992). Executive development that makes a business difference. People and Strategy, 15(1), 63.
Roshani, A., Rahimi Nik, A., Vedadi, A., & Gholamzade, D. (2020). Developing a Success Model for Iranian Fintech Startups with a Value-Added Approach to Society. Iranian Journal of Educational Society, 13(2), 79-91. (in Persian)
Sackett, A. L., Karrasch, A. I., Weyhrauch, W., & Goldman, E. F. (2016). Enhancing the Strategic Capability of the Army: An Investigation of Strategic Thinking Tasks, Skills, and Development. Army Research Inst for the Behavioral and Social Sciences Fort Belvoir United States.‏
Salih, A. A., & Alnaji, L. (2014). Impact of strategic thinking and strategic agility on strategic performance: A case study of Jordanian insurance industry companies. International Review of Management and Business Research, 3(4), 1871.
Sanders, T. I. (1998). Strategic Thinking and the New Science. The Three Press, New York.
Seidman, I. (2006). Interviewing as Qualitative Research: A Guide for Researchers in Education and the Social Sciences (3rd ed.). Teachers College Press.
Shaik, A. S., & Dhir, S. (2020). A meta-analytical review of factors affecting the strategic thinking of an organization. Foresight, 22(2), 144-177.
Shosha, G. A. (2012). Employment of Colaizzi's strategy in descriptive phenomenology a reflection of a researcher. European Scientific Journal, 8(27), 31-43.
Spinelli, E. (2005). The interpreted world: An introduction to phenomenological psychology. Thousand Oaks, CA: Sage Publications, Ltd.
Stumpf, S. A. (1989). Work Experiences that Stretch Managers′ Capacities for Strategic Thinking. Journal of Management Development, 8(5), 31-40.‏
Tennant, M., & Pogson, P. (1995). Learning and change in the adult years: A developmental perspective. San Francisco: Jossey-Bass.
Tovstiga, G. (2010). Strategy in practice: A practitioner’s guide to strategic thinking. West Sussex, UK: John Wiley & Sons.
Van Manen M. (2001) Professional practice and ‘doing phenomenlogy’. In: Handbook of Phenomenology and Medicine (ed. Toombs S.K.), 457–474.
Wakabayashi, M., Kondo, M., & Chen, Z. (2001). Cross-cultural managerial skill practices: Filipino and Chinese managers under Japanese-style management. Global Business Review, 2(1), 15-35.
Weaver, G. J. (2014). Teaching" cause and effect" in business schools: A pathway to improved strategic thinking skills. Academy of Educational Leadership Journal, 18(3), 111-119.
Yamakawa, Y., Peng, M. W., & Deeds, D. L. (2010). How does experience of previous entrepreneurial failure impact future entrepreneurship? Academy of Management Proceedings, 2010(1), 1-5.
Zabriskie, N. B., & Huellmantel, A. B. (1991). Developing strategic thinking in senior management. Long Range Planning, 24(6), 25-32.