When it comes to strategic management, it is in itself a huge and lengthy process. The definition by Giffin (1999), on strategic management is that it is a set of activities that are directed towards an organizations human resources, financial resources and physical as well as other information, with the objective that an organization’s goals will be achieved in a an effective and efficient manner. The process involves a number of other process; strategy analysis, strategy formulation and strategy implementation. Strategy analysis is a procedure which takes into account the analysis of organizational goals and aims with regards to the internal and external environment in which the organization work. The next step is strategy formulation
However, it seems that she has not internalized that strategic leadership is more than just developing long-term. According to DuBrin (2016), "strategic leadership emphasizes balancing the short and long-term needs of the organization to ensure the enduring success of the organization, yet the emphasis is on the future" (p. 419). I believe that one the biggest mistakes she is committing as a strategic leader is being too focused in the future rather than solving pressing matters in the
4.2.1 Future of Leadership: An introduction Leadership although an important component of business, is very difficult to define. Leaders must be open to change and must constantly work at developing their skills at managing people and also at evaluating these people. The managers and leaders must possess the right mind-set and organisations must build structures and systems which are designed to develop leaders. It is important for leaders to have belief in individual excellence and collaborative effort. Organisations today, must invest in leadership development and develop an environment where learning is a norm.
4.1 Developments of leadership skills: Development of leadership is most like training of business. This is the process of improving performance and efforts. An organization is successful which is able to develop effective communication skills by the use of training courses and seminars which is helpful to make a leadership environment. There is the difference between leadership theories and practising because it is bit easy to speak but comparatively difficult in practical. Leaders are the need of the company.
The Strategy is Accreditation to Change the Culture Strategic planning is a process to formulate fundamental decisions and actions. One key factor for a successful long-term strategic planning process is identification of the required core competencies, based on systematic analysis, and then start working on acquiring these core competencies so that the organization will be a strongly positioned for the environment and competition in the future (Mintzberg, 1987). As the organization must focus on specific activities to be effective and efficient towards the desired outcomes, strategic choices must be well defined. If continuous quality improvement is one of the key strategic priorities where the organization want to make a significant development
Benefits of Strategic Planning: Sadler (2003) defines strategic planning as the form of systematized, step-by-step, procedure to develop an organization’s strategy. Strategic planning serves a variety of purposes in organizations, including to: 1. Clearly define the purpose of the organization and to establish realistic goals and objectives consistent with that mission in a defined time frame within the organization’s capacity for implementation; 2. Communicate those goals and objectives to the organization’s constituents; 3. Develop a sense of ownership of the plan; 4.
Strategic decision making For this research, strategic decision making is a main concept and a central part of the proposed research question. Strategic decision making has been described as “a dynamic capability in which managers pool their various business, functional, and personal expertise to make the choices that shape the major strategic moves of the firm” (Fredrickson, 1984; Eisenhardt, 1989). In today’s increasingly competitive global markets strategic decisions directly affect the future of organizations. Managers therefore are responsible to make strategic decisions to control the short-term and long-term goals of their organization. Strategic decisions are concerned with subjects such as planning and design of organizational
BE ABLE TO APPLY MANAGEMENT AND LEADERSHIP THEORY TO SUPPORT ORGANISATIONAL DIRECTION 2.1 Review the impact that selected theories of management and leadership have on organisational strategy The Trait Theory: This theory is derived from ‘the great man’ theory, which identifies the key characteristics of a good and successful leader. They have personality, dominance, charisma, self-confidence, achievements and ability to formulate a clear vision It is believed that through this approach critical leadership traits could be isolated and that people with such traits could then be recruited, selected, and installed into leadership positions. Impact on Organisational Strategy: A leader with these traits and skills is able to drive the organisation. It is of this reason that organizations around the world look for these traits in the candidates for the commission. Leader is responsible for everything the team does or fails to do.
STRATEGIC PLANNING STRATEGIC PLANNING Strategic planning is a comprehensive process which includes everything which a business should become and how best it can achieve that goal. Basically it links the business objectives to the actions and resources required to achieve them. While doing this it offers a systematic procedure to ask and answer the most critical questions faced by the management team. DEFINITION George Steiner defines strategic planning as “the formulation of basic organizational mission, purpose and objectives; policies and programmes to achieve them, and the methods needed to achieve organizational ends. WHY DO COMPANIES USE STRATEGIC PLANNING PROCESS?