Assignment - Developing Strategic Management and Leadership

Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It involves the systematic identification of the firm 's objectives, nurturing policies and strategies to achieve these objectives, and acquiring and making available these resources to implement the policies and strategies to achieve the firm 's objectives. Strategic management, therefore, integrates the activities of the various functional sectors of a business, such as marketing, sales and production to achieve organisational goals. It is the highest level of managerial activity, usually

There are many ways to define leadership, but perhaps the most laconic as well as accurate definition is presented in Peter G. Northouse's Leadership: Theory and Practice book (Northouse, 2013, p.5): "Leadership is a process whereby an individual influences a group of individuals to achieve a common goal". Individuals, engaged in leadership, use influence to solve challenges, which the groups under their leadership face, in order to succeed in their common goals.

First we must understand and define what leadership is in order to grasp the concepts that contribute to forming leadership styles and philosophies. Leadership is a combination of

"Strategic management is a set of managerial decisions and actions that determine the long-run performance of a corporation" (Wheelen & Hunger, 2006, p.3). The benefits of strategic management helps the firm focus on the objectives and develop the steps involved in obtaining the vision and financial wealth of the organization. An effective strategic management plan should include the following three questions: (1) Where is the organization now? (2) If no changes are

Strategic management is the process where leaders establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all external and internal changes, and undertake effective strategies to manage these changes and execute action plans.

Leadership has been studied extensively and many varying definitions exist. Hughes, Ginnett and Curphy (2015, p.4) review many of these definitions and consequently describe leadership as ‘the process of influencing an organised group towards its goals’. Leadership involves the interplay of a range of different factors, not least the leader themselves, the followers and the situation. For

There are certain essential elements that constitute the definition of leadership. It may refer to the totality of an organization’s top direction-giving functionaries, or the actions applied in providing direction that enables the organization or team to move forward towards a goal. In reality, there are very diverse definitions of leadership depending on

What Is Strategic Management a process for defining and addressing the management implications of an organization's strategic and operational plans? A long-term context for short-term activities. Strategic management is the analysis of the work done by the management of an organization on behalf of the owners. It gyrates around expressing the purposes of the organization and coming up with an appropriate mission and vision statement. Mission and vision statement together are used to help develop policies and plans to be used in long term and short term goals often categorized as projects or programs. It also involves the right resources of management to ensure that the business profit are maximized to grow the company. Strategic Competitiveness

Skills for leading at the strategic level are more complex than those for leading at the tactical and operational levels, with skills blurring at the seams between those levels. Developing Strategic Leadership If becoming a strategist is the ends, then leadership is the ways, and development is the means. Learning to become a strategic leader requires special preparation in several areas.

Therefore, strategic management is an all-encompassing approach for formulating, implementing and evaluating managerial decisions in a way that permits the business to reach its objectives.

The strategic management is actually defined as the process in which an organization actually formats and also implements the plans which espouse the objectives and goals of that organization (Diana Wicks, 2011). The process of the strategic management is continuous and it changes with the evolution of the organizational goals and objectives.

To discuss the relation between the strategic management and leadership we must have understanding what is the meaning of these two terms. Strategic Management and Leadership are interconnected with each other; if we understand the concept of said terms it is easy to explain the whole process in a good manner.

Fred R. David (2007:5) defined strategic management as “the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organisation to achieve its objectives.

Fred R. David (2007:5) defined strategic management as “the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organisation to achieve its objectives.

Day today management is clearly defined by F.W. Taylor, Henry Fayol, Ma Weber, and others in classical management. No organisation can just have one type of management all through the organisation like operation can be scientific management and task oriented leadership. Marketing can be administrative and with action centred leadership. The overall leadership should be the same has the ethos of the organisation overall. . Current theories and models of leadership explain the influence of position upon the satisfaction and performance