Welcome to the Financial Times Lexicon

Browse thousands of words and phrases selected by Financial Times editors and suggest new terms for the glossary.

 

Term of the day

system thinking

System thinking provides business managers with a holistic and inclusive way of looking at the world outside.

Most of the time, when we attempt to solve a problem we are tempted to split the problem into smaller pieces so we can fix small problems with the intent of solving the bigger one. This approach is called a reductionist approach. 

In contrast, system thinking means looking for connections in the area where the problem manifested, but it also means taking into account distant issues that we...