Refers to a person's habitual mindset, viewpoint, or approach to interpreting things. Often used in phrases like 考え様によっては (depending on how you look at it).
Depending on how you look at it, even failure can be a good experience.
His way of thinking is always positive.
Compound of 考え (thought, thinking) and 様 (way, manner). The exact historical derivation is uncertain, but the combination naturally yields 'way of thinking'.