The Role Of Leadership On Crafting And Executing Strategy

1792 WordsDec 7, 20148 Pages
THE ROLE OF LEADERSHIP IN CRAFTING AND EXECUTING STRATEGY Introduction to Strategy Strategy is vital to any organization as it defines the path the organization must take to reach desired goals and objectives. Another definition says: “A business strategy is a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making. A strategy is therefore about how people throughout the organization should make decisions and allocate resources in order accomplish key objectives.” (Watkins, 2007) I liked this definition because it is simple enough yet complete to understand what strategy is and what the desired outcome for any organization is. Strategy does not stand alone in the organization, as it has been said above, it defines the path to accomplish objectives; so in order to have an strategy the company needs to have a defined mission, vision and objectives. The mission defines what will be achieved and what the purpose of the organization is. The vision is what the organization aspires to be in the future and provides motivation for people to perform at high level. Once the organization has clearly defined who it is and what it wants to become, it needs to establish objectives to measure accomplishments. Here is where strategy interacts, strategy is about decisions and resources that need to happen in order to accomplish mission, vision and objectives. Leadership plays a very important role in the process of

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