Q1. Explain the link between Strategic Management and Leadership
The strategic management process helps institutions identify what they intend to achieve and how they will accomplish outcomes. The term strategic management is used to refer to the entire decision-making process. Strategic management must evolve by predicting the future (more effective planning), thinking strategically (increased responses, evaluation of strategic alternatives and dynamic allocation of resources) and creating the future (strategic planning through orchestration of all resources to create advantage) (Gluck, Kaufman & Wallach, 1980). Therefore the orchestration of all resources within an institution, strategically driven by a flexible planning process
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The influence of leadership style on job performance, organisational commitment and satisfaction has been well established (Breckenridge, 2000; Vries et al., 1998; Cairns, 1996). While leadership style has an impact on organisations, department, and teams, as well as work climate and atmosphere, leaders who want the best results should not rely on a single leadership style (Goleman, 2000).
Empirical evidence has been produced whose demographic variables such as years in organisation, age, level of education and the duration of leadership (Chen & Francesco, 2000;Mathieu & Zajac, 1990) can have significant impact on organisational commitment. Sommer et al. (1996) revealed that position, tenure and age were significantly related to employee commitment for korean subjects, which were consistent with the western results.
Mitchell (2000) suggests that several factors account for generational differences in the attitudes and behavior of workers. The level of education and age were identified as important determinants. He suggests that the level of education influences people’s values, wants and needs and makes them think and behave differently. Age, on the
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.
Strategic management provides overall direction to the enterprise and involves specifying the organization 's objectives, developing policies and plans designed to achieve these objectives, and then allocating resources to implement the plans. Academics and practicing managers have developed numerous models and frameworks to assist in strategic decision making in the context of complex environments and competitive dynamics. Strategic management is
Strategic management straps up the comprehensive potential of an organisation by integrating operational plans into the strategic process. Strategic management is a task undertaken by the entire organisation all the time. It comprise combining ideas and acting towards the best idea and
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.
“Strategic management is the comprehensive collection of ongoing activities and processes that organizations use to systematically coordinate and align resources and actions with mission, vision and strategy throughout an organization” (Strategic management, n.d)
Leadership is the set of capabilities that a person has to influence the minds of people in a group of persons, making this team to work with enthusiasm, but the reality is different, in achieving goals and objectives. (Koys, 2001, pp26-33) It is also understood as the ability to take initiative, manage, hold, promote, encourage, motivate and evaluate a group or team. (Goffee and Jones, 2000, pp117-28) In business management leadership is the exercise of executive activity in a project effectively and efficiently, whether personal or institutional management (within the administrative process of the organization).
Collis, D.J., & Montgomery, C.A. (1995, July/August). Competing on resources: Strategy in the 1990s. Harvard Business Review, 73 (4). (Custom Textbook (2012), Managing Strategy in the Global Marketplace. Chapter 21.)
Strategic executives are responsible for developing strategies for the organizational structure as well as the facilities and tools required to support the mission and vision. Leaders must take into consider the degree to which the organization should operate virtually. Facilities and IT tools differ depending on the geographical location, culture, global partnerships, industry, and types of projects within an organization.
The paper that I’m writing will help you to gain information on how Strategic Management and Strategic Competitiveness play hand and hand when dealing with a business. The business that I have choose to write about is Nike. I have always wanted to know the practices that Nike used in order to make their business last this long and how have they been so successful. I will explain to you how globalization and technology changes have helped or hurt the company and the major role that it has played. I also plan to construct a plan to see how my corporation could earn above-average returns and increase their gaining potential. I will explain Nike’s vision and mission statement and show how
The organizational hierarchy and economic conditions directly impacts the roles and functions of business leaders. Therefore, it is imperative that one reviews organizational structure in order to understand leadership traits and characteristics. Due to the constantly evolving economy, companies are aiming to adopt a more elastic strategic management configuration so as to assist the maximization of the employee satisfaction and to get rid of any inflexibility in the organizational structures that obstruct communication. Project-based (or task-based) organizational compositions (PBO) facilitate the companies to be more elastic as this employee structure comprises of transitory project teams and responsibilities which are softened after the necessary aims have been attained (DeFillippi & Arthur.1998: Hobday, 2000; Turner & Keegan, 2001).
1. Explain how the development of strategy at the LEGO Group reflects the key characteristics of strategic management.
October Book/Article 1. John Ward and Joe Peppard, Strategic Planning for Information Systems, Third Edition , John Wiley & Sons, 2002, Chapters 4-6 2. Henderson and Venkatraman, Strategic alignment :Leveraging information technology for transforming organisations, IBM Systems Journal, Vol.36, Nos. 2&3, 1999 3. Claudio Ciborra, De Profundis? Deconstructing the concept of strategic alignment, Scandinavian Journal of information systems, Vol. 9, No. 1, 1997. 4. Michael Earl, Experiences in strategic information systems planning, MIS Quarterly, Vol. 17, No. 1, 1993 A Strategy formulation contra strategy realisation, which is the most important and how should they
In today’s global economy, many companies are growing to great lengths to stay relevant and competitive in an ever changing business market. Whether a company is involved with creating the newest fashion trend, the most advanced smart phone or the safest vehicle on the road; businesses are looking for ways to capture the attention of consumers, maximize the use of their available resources and grow their share of the market. Companies that once were confined to a particular city, state or region are now able to compete globally and reach people living on different continents with varying cultures, traditions and beliefs. This shift in demographics and target marketing has also led companies to reassess their organization’s environment. An organization’s environment is defined as internal and external driving forces that have the ability of affecting the way organization’s conduct business, establish policies and make decisions to stay competitive (Nelson & Quick, 2013). Kurt Lewin, a social psychologist, established a model more than 50 years ago called Lewin’s Force Field Analysis that highlight the different kinds of driving forces that can influence the way companies do what they do such as competing in the global marketplace, diversity in the workforce, the correlation between personal and business ethics and technological innovation (McShane & Von Glinow, 2008).
the many people a better everyday life, IKEA asks the customer to work as a partner. The product range is
El proceso de gestión estratégica se compone de cuatro etapas: análisis de la situación, formulación de estrategia, implementación de estrategia y evaluación de la estrategia. Las empresas existentes que ya han desarrollado un plan de gestión estratégica revisan estas etapas según sea necesario, con el fin de realizar los cambios y las mejoras necesarias.