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The Cognitive Foundations of Visionary Strategy

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  • Melissa A. Schilling

    (Stern School of Business, New York University, New York, New York 10012)

Abstract

Some strategic decisions will long be remembered for being remarkably successful, providing dramatic benefits to customers, investors, or social welfare. The individuals who make these decisions are often called “visionary.” But what enables some people to be visionary? Is it a gift or skill, and can it be learned? In this paper I identify three main cognitive processes that underlie the creation of visionary strategy: abstraction, idealism, and long paths of analytical reasoning. Using a combination of examples and cognitive science, I explain how they work individually and in combination, and how they may be cultivated.

Suggested Citation

  • Melissa A. Schilling, 2018. "The Cognitive Foundations of Visionary Strategy," Strategy Science, INFORMS, vol. 3(1), pages 335-342, March.
    • Handle: RePEc:inm:orstsc:v:3:y:2018:i:1:p:335-342
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    References listed on IDEAS

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    1. Sarah Kaplan & Rebecca Henderson, 2005. "Inertia and Incentives: Bridging Organizational Economics and Organizational Theory," Organization Science, INFORMS, vol. 16(5), pages 509-521, October.
    2. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and Sustainability of Competitive Advantage," Management Science, INFORMS, vol. 35(12), pages 1504-1511, December.
    3. Jay B. Barney, 1986. "Strategic Factor Markets: Expectations, Luck, and Business Strategy," Management Science, INFORMS, vol. 32(10), pages 1231-1241, October.
    4. Ingemar Dierickx & Karel Cool, 1989. "Asset Stock Accumulation and the Sustainability of Competitive Advantage: Reply," Management Science, INFORMS, vol. 35(12), pages 1514-1514, December.
    5. Rebecca Henderson & Sarah Kaplan, 2005. "Inertia and Incentives: Bridging Organizational Economics and Organizational Theory," NBER Working Papers 11849, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Shubha Patvardhan & J. Ramachandran, 2020. "Shaping the Future: Strategy Making as Artificial Evolution," Organization Science, INFORMS, vol. 31(3), pages 671-697, May.
    2. Giovanni Gavetti & Joe Porac, 2018. "On the Origin of Great Strategies," Strategy Science, INFORMS, vol. 3(1), pages 352-365, March.

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