The construct ‘mindset’ has become central to research and practice, yet there is no consensus on the meaning of the concept, with various definitions proposed. This paper systematically reviews mindset definitions in the management and business literature to address the conceptual confusion surrounding mindset and to enhance concept clarity. A qualitative content analysis of 76 publications reveals eight categories of defining mindset components: ability, behaviors, belief systems, cognitive processes and attributes, knowledge, mental states, personal dispositions and behavioral tendencies, and personal perspectives and worldviews. These categorizations reveal that according to the management and business literature, a mindset comprises stable, dynamic, and action-related characteristics. In addition to examining similarities and differences between definitions of mindset, this study identifies several research gaps encompassing an ambiguous use and understanding of mindset, a lack of engagement with prior research, and a lack of empirical studies on the nature of the construct. Based on these gaps, the author proposes a promising path for future studies to address the fuzziness of mindset definitions and to unpack the defining components more fully.