Relationship between Strategic Management and Leadership
It will be analyzed the relationship between the strategic management and leadership. The organization which will use to describe the link between strategic . Link between Strategic Management and Leadership. Strategic Management is a process which involves formulation as well as implementation of major goals. Strategic management and leadership are unique in their own ways, but they do come together in helping organization achieve objectives and fulfill the stated.
The management style which seems to be sort of persuasive seems to be largely ineffective and not much motivating to the existing human capital within the company. It was also reflecting in the strategic decision making process of the company where it was only the top management which was responsible and there was no efforts from the leaders at managerial role or mid-level managers who were contributing Innovation Leadership styles and their application in different situations There are 5 Major styles of leadership and they are: This kind of leadership style is very important when the things are going well in the company or it is looking forward to expand like the car rental company in the case study.
Here, the top management which foresees its mid-level managers retiring within the next years need to sit down with the employees, talk with them, and evaluate the contributions of each of its employees. It would help them in preparing the managers for the coming years and retaining them at important positions CCL In this kind of leadership a company needs to show the targets it wishes to achieve in the coming future.
The leader here takes everyone on board and makes sure that each and every member of the organization is well informed regarding their roles. Here the leader prepares future leaders and managers.Management 101: The Marriage of Strategy and Leadership
The subordinates are trained and prepared to take up the roles of managerial positions when the leaders leave or reach higher levels of management. Autocratic leaders are those who impose their decisions and it is seen that this kind of leadership style is in practice in scenarios where, the company is going through bad times or is not having an effective managerial team Faile Ireland, n. It is believed that bureaucracy bogs down many businesses and makes it poor in terms of leadership styles.
This kind of leadership style is prevalent in businesses where large sum of money is involved or it is a matter of human health or safety.
Management and Leadership theory to support organisational direction Impact of Transformational and Transactional Leadership of management and leadership on organizational strategy Transformational leadership is defined as a situation where leaders along with their followers raise each other to higher levels in terms of values and motivations. As per Burns, Burns,p.
A transformational leader inspires the loyalty among its subordinates and creates an inspiring vision for the future. He or she is able to motivate the people in buying and delivering over the vision set by the organization and also ensures that the strategic objectives of the organization is delivered.
Further it also facilitates in building stronger, trust based relationship contributing to increased efficiency and better coordination for team work within the organization JOE On the other hand transactional leadership is more concerned for maintenance of normal flow of operations. A transformational leader uses his disciplinary powers and a range of incentives for motivating the employees to perform at their optimal levels.
The term transactional means that this kind of a leader plays a crucial role in motivating the subordinates by the process of exchanging rewards for performance.
For an organization a transactional leader would not strategically guide the organization towards the process of market leadership but the managers would majorly be concerned for making sure that the entire operations within the organization moves in a smooth and well channelized manner Rose Hulman n.
Leadership Strategy Supporting organizational direction A leadership strategy which supports organizational direction includes a large number of factors such as efficiency, innovation, reliability, human resources and adaptation. Moreover, these factors vary with their relevance which depends majorly upon the kind or stage of business development.
Strategic Management & Leadership
For a start-up the leadership strategy needs to be largely autocratic in nature. The leaders who are the founders and have their plans for expanding the business avenues in future need to be authoritative to implement their proposed plans and make their leaders ready as well as well-equipped for the coming future. On the other hand for an organisation which is already established it would be advised to have a participative kind of management and leadership strategy which is substantiated by democratic approach.
It would be a great idea to keep the employees involved in the decision making process so that they feel valued and put more efforts for gaining better results for the organization. A sense of motivation and collective team effort would enable an established organization to grow to higher levels and achieved better results Promeng Planning for leadership Assessment of leadership requirements In the growing age of globalization where companies are going global the need of the hour is face generic challenges i.
Leaders of the future need to be well equipped and skilled to take care of the changing diversity and the new environment which is expected to get stronger in the coming future Ken Blanchard n. Plan for development of future situations needing leadership In order to stay competitive in the future work environments, leadership would play a crucial role.
The future plan for development would need to comprise of the following areas: Flexibility and operations globally: The leaders of future need to have the skill of working from remote locations and manage workforce of the company from various areas. Virtual organizations as its termed as would need leaders with the ability of better communication skills and ability to work with teams from different parts of the world.
Work with teams and diverse workforce: With increased globalization, it indeed needs the leader to be well equipped to work in teams and with a diverse workforce. A leader would need to take the employees on board and ensure that their views and participation is taken into consideration for each and every decisions the company makes EFST CSR and other legal avenues are among the most important areas which ensure that the organization works in a smooth and effective manner.
A leader would need to make sure that the proposed policies and initiatives by the organization is implemented which means he needs to be well aware and updated with the laws as well as CSR obligations of the company. Leadership Skills for engaging employees and making a team effort A leader of the future would need to be charming and motivating enough to engage his or her employees to work towards a common goal.
Key strategic considerations include: Technical knowledge and skills required in the position, especially about executive information systems. Conceptual skills which allow the strategic leader to make decisions and cope with the level of complexity associated with a particular position. Before Leaders commit to lead others, they need to commit to themselves. Leaders need to ensure that they have qualities and characteristics of a good leader. They need to create a personal vision.
They need to explore themselves first. What they can achieve with their talent, tools and time. They need to create a big picture of their vision and align it with that of organisation.
Once that is down, the next step is to bring their followers on board, and align their motivation with organization's strategy. This is very important in order to empower team member and their networking activities. It is helpful since there are people with different ethnic backgrounds and cultures. Everyone has different skills and fields of specialization. It is important for leaders to ensure that team members are selected on the basis of their field of specialization, unique talents, skills and share a same vision.
Every team member need to play its own part and should not depend on others. Like in sales team, every member has its own sales target, which they have to achieve on their own. But this does not mean that members cannot take help from each other in case of stock control. In today's ultra-competitive business environment, executives and managers often have varying degrees of leadership skills and training. While obtaining comprehensive leadership skills training is the best way to integrate key leadership responsibilities into the workplace, understanding and utilizing the following tips can help you resolve conflicts, improve employee performance and lead change throughout the organization: This is one of the most important leadership skills.
If you demonstrate a strong work ethic, your staff will follow. As an executive, you have a responsibility manage and guide the staff, to inspire enthusiasm and stimulate their interests. Make sure you look out for their welfare and they will be appreciative of your efforts by being productive and maintaining high company standards.
Ensure Long-Term Organizational Success? Focus on the long term. While there are numerous factors that could steer your company off-track - the changing economy, the board of directors or technology in your industry - you need to stay focused on the long-term success of your organization.
Otherwise, there will be no roadmap or plan of attack. Improve the Organization from Day 1? From the day you start your position, it's up to you to ensure that you grow your organization.
Work on making your company more streamlined, fiscally sound and more respected than the day you walked in the door. Focus on the Big Picture? Because boards prefer to operate at the micro level working on minor details and small projects, you'll have to work at refocusing them on larger strategic issues with abstract or undefined results. This will take effort on your part, but if you don't push them to do it, nobody will be doing the board's job.
Part of your role as an executive is to ask the tough questions, even if it risks putting your job in jeopardy. Have a Basic Understanding of the Job and Organization?
It's simply not possible to know all the ins and outs of every position within the company. Try to have a basic understanding of key roles within your organization, and make sure to keep informed of the growth and changes within your industry through local executive societies and publications.
By demonstrating commitment to your organization, your staff, your profession and your industry, others will be inspired to stay enthusiastic about their roles and contributions to the company. If you demonstrate any sort of negativity, others will soon follow. Maintain Integrity Much like leading by example, you always want to keep operations above board. Don't conduct any business in secret or that you wouldn't want the media to cover.
Speak up about processes or issues that you know do not follow the company's ethical standards.
Relationship between strategic management and leadership
While speaking up takes a great deal of courage, keeping silent can destroy your company and your career. Mentoring is another good strategy, for project based teams. It acts in two ways, one way is that people learn from their good leaders.
The formula is to observe their leaders and learn from them. This is the idea of transformational leadership theory; the followers become leaders for others.
On the other side it helps team-members to develop their personal skills. A sales assistant can follow the steps of their team leader and become a leader or a role model for other team-members, this way it can acts as a motivating factors.
Leaders acting as a mentor need to provide assurance and personal reflective space, coaches set goals, identify solutions to problems, and provide feedback on the subordinates' performance.
What is the Relationship between Strategic Management and Leadership?
The focus of mentoring is to develop the whole person and so the techniques are broad and require wisdom in order to be used appropriately. A study of mentoring techniques most commonly used in business found that the five most commonly used techniques among mentors were: Sowing is necessary when you know that what you say may not be understood or even acceptable to learners at first but will make sense and have value to the mentee when the situation requires it.
Here the mentor chooses to plunge the learner right into change, provoking a different way of thinking, a change in identity or a re-ordering of values.
You show what you are talking about, you show by your own behavior. The key questions here are: Different techniques may be used by mentors according to the situation and the mindset of the mentee, and the techniques used in modern organizations can be found in ancient education systems, from the Socratic technique of harvesting to the accompaniment method of learning used in the apprenticeship of itinerant cathedral builders during the Middle Ages.
Leadership authors Jim Kouzes and Barry Z.
- Relationship between Strategic Management and Leadership
- Relationship between strategic management and leadership
Posner advise mentors to look for "teachable moments" in order to "expand or realize the potentialities of the people in the organizations they lead" and underline that personal credibility is as essential to quality mentoring as skill.
Multiple Mentors A new and upcoming trend is having multiple mentors. This can be helpful because we can all learn from each other. Having more than one mentor will widen the knowledge of the person being mentored. There are different mentors who may have different strengths. Profession or Trade Mentor: They know the trends, important changes and new practices that you should know to stay at the top of your career.
A mentor like this would be someone you can discuss ideas regarding the field, and also be introduced to key and important people that you should know. This is someone who doesn't just focus on the profession. This mentor will be able to give insight on the industry as a whole. Whether it be research, development or key changes in the industry, you need to know.
Politics in the organizations are constantly changing.
It is important to be knowledgeable about the values, strategies and products that are within your company, but also when these things are changing. An organization mentor can clarify missions and strategies, and give clarity when needed. This mentor can speed quickly over the bumps, and cut through the unnecessary work. This mentor can explain the 'ins and outs' of projects, day to day tasks, and eliminate unnecessary things that may be currently going on in your work day.