Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Communication in leadership
Communication in leadership
Strengths and weaknesses of a strategic plan
Don’t take our word for it - see why 10 million students trust us with their essay needs.
1. UNDERSTAND THE RELATIONSHIP BETWEEN STRATEGIC MANAGEMENT AND LEADERSHIP
1.1 Explain the link between strategic leadership and management.
Strategy management can be characterized as "the precise investigation of the elements connected with clients and contenders (the outside environment) and the association itself (the inner environment) to give the premise to keeping up ideal administration rehearses. The goal of vital administration is to accomplish better arrangement of corporate strategies and key needs".
As it were, Strategy management is the procedure of indicating an association's goals, creating strategies and arrangements to accomplish these destinations, and apportioning assets in order to execute the arrangements. It is
…show more content…
• Strategic management is fluid and complex. Change creates original combinations of conditions requiring shapeless non-repetitive responses.
• Strategic management affects the entire group by providing way.
• Strategic management involves both strategy formation, called it content) and also strategy implementation, called it process.
• Here management is partially planned and partially unplanned.
• This management is done at several levels: overall corporate strategy, and individual business strategies.
• It involves both theoretical and logical thought processes.
On the other hand we have the explanation of strategic leadership: Strategic leadership is the process of using well considered tactics to interconnect a vision for a group or one of its parts. Strategic leadership typically manages, motivates and persuades staff to share that same vision, and can be an important tool for implementing change or creating organizational structure within a
…show more content…
In the choice making process the supervisor is the key leader who does not permit his kin to contribute in the choice making procedure, rather they are offered headings to take after. This authority style is best for representatives who are normal or poor entertainer on the grounds that in this approach the pioneer watches out for his kin why should assumed perform the assignment on the given headings; this will expand the execution of workers and additionally the
Generally, strategic management is a set of managerial decisions and actions that determines the long-term performance of a company, involving both internal and external environmental scanning, strategy formulation, strategy implementation, and evaluation and control. According to the study of strategic management, the corporation should concentrate on monitoring and appraising outside opportunities and threats based on an organization’s strengths and weaknesses (Thomas Wheelen and David Hunger, 2012).
The leadership effectiveness depends upon the leadership style that is most compatible with the motivational need of the followers (Maslow, 1954).Strategic leadership involves developing strategies and empowering people to put those strategies to work throughout the organization. This includes knowing the firm’s strategic direction, aligning the strategy with the firms culture, communicating and modeling high ethical standards, and when necessary initiating changes. The link between strategy formulation and strategy execution is described as effective strategic leadership. And the exertion of effective strategic leadership isn’t always easy. Leaders have leadership styles that are distinctive of themselves. A style is described as consistent
Strategic management is the ongoing process of ensuring a competitively superior fit between the organization and its ever-changing environment (Kreitner, G13). Strategic management serves as the competitive edge for the entire management process. It effectively blends strategic planning, implementation, and control. Organizations that are guided by a coherent strategic framework tend to execute even the smallest details of their mission in a coordinated fashion. The strategic management process includes the formulation of a strategy/strategic plans, implementation of the strategy, and strategic control. A clear statement of the organizational mission serves as the focal point for the entire planning process. People inside and outside the organization are given a general idea of why the organization exists and where it is headed. Working from the mission statement, management formulates the organization's strategy, a general explanation of how the organization's mission is to be accomplished. Then general intentions are translated into more concrete and measurable plans, policies, and budget allocations. Implementation is the most important part of the strategy. Strategic plans must be filtered down to lower levels to be success. Strategic plans can go astray, but a formal control system helps keep strategic plans on track. In the strategic management process general managers who adopt a strategic management perspective appreciate that strategic plans require updating and fine-tuning as conditions change. Given today's competitive pressures, management cannot afford to let strategic plans sit as is. A strategic orientation encourages farsightedness. Sun Microsystems Inc. is one company that developed a strategy to become the competitive leader and become the most reliable in the net business. I will explain how Sun's strategy integrates their marketing, management, technology, and service functions into one effective strategy. First I'll discuss who Sun is and what encouraged them to develop their strategy.
Evaluate the suitability of the emergent and intended approaches to strategy management for your chosen organisation.
Strategic management is an ongoing strategic plan that not only addresses the
“Strategic management is an ongoing process that evaluates and controls the business and the industries in which the company is involved; assesses its competitors and sets goals and strategies to meet all existing and potential competitors; and then reassesses each strategy annually or quarterly [i.e. regularly] to determine how it has been implemented and whether it has succeeded or needs replacement by a new strategy to meet changed circumstances, new technology, new competitors, a new economic environment., or a new social, financial, or political environment” (Lamb, 1984: ix).
Additionally, a concept referred to as strategic management is a new way to implement an organization’s strategic plan. According to Crosby (1991), it is possible to develop a strategic plan without giving much thought to the actual management of that plan. However, Crosby (1991) conveyed that it is probably impossible to manage an organization strategically without having developed a strategic plan. Engaging staff in these processes and phases is very important to the success of the plan.
Strategic leadership is a leadership process that uses certain tactics that help increase the communication of vision for the organization. It manages and motivates those in the organization to share in that same vision. To me strategic leadership also is an important tool to aid in implementing change that is needed to move a church or organization forward.
Strategic managers think in terms of three levels of strategy; Corporate, Business and Functional Level strategy. Corporate-level strategy is concerned with the strategy of the organisation as a whole, and includes all the units and product lines that make up the corporation (Samson & Daft, 2012). AirA...
Strategic management is the process of formulating and implementing strategies in organizations. Strategy formulation is the first strategy in strategic management, which is the process of creating strategy and that involves assessing existing strategies, develop new strategies and strategic plans. The second strategy in strategic management is called strategy implementation, which is the process of allocation resources and putting strategies into action.
Strategy formulation is the process of establishing the firm's mission, goals, and choosing among alternative strategies or plans; it involves and implies that preparing the best approach to respond to the circumstances of a firm's environment, whether or not its conditions are known in advance; being strategic and tactical, then, means being clear about the management's aims; being aware of the company's resources, and incorporating both into being consciously responsive to a dynamic environment (SM, 2010). As nearly all businesses have limited resources, top leaders and management must determine which alternative plans or strategies will do well to the organization most; strategic management requires attention to the big picture and the motivation to adapt to circumstances, and consists of the following aspects:
"The strategy formulation can develop competitive advantage only to the extent that the process can give meaning to workers in the trenches." —David Hurst (David, 2011). Strategic management can be defined as the art and science of formulation, implementation, and evaluation of cross-functional decisions that enables an organization to achieve its objectives. So, strategic management focuses on integration management, marketing, finance, operations, R&D and information systems to achieve organizational accomplishment. Strategic management is all about gaining and maintaining competitive advantages. When an organization can do something that rival cannot do, or owns something which competitor desire, that is referred as competitive advantage.
Finally, they should also have some. familiarity with ways of developing competencies for dealing with the broad, new challenges that are part of leading the strategic. environment. The.. What Is Strategic Leadership? The common usage of the term strategic is related to the concept of strategy—simply a plan of action for accomplishing a goal.
That reminded me from the case study the director how to plays round of the company to succeed this Colombian Memorial Hospital. External control view of leadership, situations in which external forces where the leader has limited influence determine the organization 's success. Strategy, the ideas, decisions, and actions that enable a firm to succeed. competitive advantage firm 's resources and capabilities that enable it to overcome the competitive forces in its industries. Operational effectiveness, Performing similar activities better than rivals. Intend strategy, strategy in which organizational decisions are determined only by analysis. Realize strategy, strategy in which organizational decisions are determined by both analysis and unforeseen environmental developments, unanticipated resource limitations, and changes from managerial preferences. Strategy analysis studies of firms ' external and internal environments, and there with organizational vision and goals. Strategy formulation, decisions made by firms regarding investments, commitments, and other aspects of operations that create and sustain competitive advantage.
Strategic management is the process where organization managers reach the goals and aspirations of the organization on behalf of its owners. This is done through formulation and implementation of ways and methods to fulfill the organizational goals and objectives (Brian, 2011). This is done with in-depth consideration of both the internal and external environments that the organization operates in, in order to allow the organization make the right decisions. Strategic management is an important element that firms must put together through strategic thinking as well as strategic planning (Nag, R., Hambrick & Chen, 2007).