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In spite of the fact that they refer to two very different ideas, the phrases "strategic management" and "leadership" are sometimes used interchangeably in the same sentence. The primary goal of management is to maximise the output of the organisation via the administration of policies and procedures (Grant and Baden-Fuller, 2018).
Strategic managers or strategic management are in charge of developing strategies, whereas leadership is in charge of putting these plans and designs into action (Subramony et al., 2018). The issue of leadership in the strategic management assignment emphasises the need of maximising one's strengths while also rectifying one's flaws. This is especially true in the case of women leaders (Grubaugh and Flynn, 2018).
Creative skills
Objectives, emotions, emotions, and operations are all in sync for creative leaders. They improve corporate culture by removing barriers and creating chances to inspire the desired outcome. Creativity is amongst the most important qualities of a b leader, since it fosters a healthy and productive workplace atmosphere (Griffith et al., 2019). Creativity is used to solve problems, achieve goals, inspire teams to be more creative, and reveal new perspectives. The leaders need to possess the creative skills for bringing innovation in the organization. Most importantly, the leaders with the creative skills can motivate other employees to think out of the box. It will help in generating organizational performance.
Skills of making plans
By specifying how a work will be accomplished in advance, planning gives recommendations for actions. Planning ensures that goals and objectives are clearly specified so that they may be used as a roadmap for deciding how to proceed and how to do so. Planning is predominantly important skill for any leaders. Without the effective plans, the organizational tasks cannot be operated systematically (Griffith et al., 2019). As planning can create a roadmap for the entire organizational tasks and operations. It also helps in obtaining the goals effectively by generating the ways to achieve the goals.
Decision-making skills
Decision-making skills are very crucial and significant for the leadership practices as these skills help the leaders overcome the most critical situations. Even during the period m=of making effective changes, the decision-making power of the leaders can help in tackling the situations. Managers need to have a good decision-making skill to demonstrate their personnel that they appreciate their efforts and are looking out for their greatest advantage (Griffith et al., 2019). A management's intelligence and integrity are proven when they make the time to review, analyse, and interpret decisions. Important decision needs to be made when the organizational operations and functions are somehow impacted. This skill can help the leaders guide the employees towards the right direction.
Skills of conflict management
Conflict may arise within the workplace and the proper skills to resolve those are important for a good leader to overcome the conflicts among the employees. Communication skills, problem-solving and active listening are the major criteria to possess the skills of managing the conflicts within the workplace. The leaders can play a crucial role in the workplace by resolving the issues and conflicts (Mahdi et al., 2019). Disagreement management skills are abilities that allow leaders to regulate how disagreement affects the workplace, the employees, and the entire organisation. The leaders need to have a positive attitude to address the issues of the workplace. When the leaders have the skills to solve the conflicts, it may contribute to the creation of an environment where tension is identified, managed, and used effectively.
Ability to motivate and inspire
The importance of intrinsic motivation has expanded in recent years, and leaders must increasingly drive their staff to achieve their objectives. It is possible that leadership will fail if it is unable to inspire today's highly skilled workforce with a compelling vision. While incentives and increases are still important in the workplace, intrinsic motivation is beginning to take their place (Mahdi et al., 2019). Internal motivation may be shown by higher levels of involvement, more freedom of expression, and the potential to be creative.
Proliferation and Communication
Due to the fact that the younger generation is more acquainted with social networking sites, older ways of communication are being phased out in favour of them (Mahdi et al., 2019). As a result, in order to realise the vision stated for the organization's strategic direction, leadership must research and deploy these technologies.
Adaptive and Collaboration
A change in leadership style is required in the twenty-first century rather than depending on a vertical style of leadership that has worked successfully in the past. As a result, leadership must adopt a more collaborative approach with people who are qualified and competent in the twenty-first century (Grubaugh and Flynn, 2018). A directive or authoritative style of leadership, along with top-down communication, will not be effective in achieving a strategic goal.
The goal and strategy of a firm can only be realised with the appropriate combination of people, processes, and technology. Due to the fact that HP's boardroom infighting costs the firm money at every level, the company's leadership and strategic management should refrain from getting engaged (Quesado et al., 2018). The use of the concept of stewardship to the benefit of shareholders' interests. Instead of relying on a design perspective, management should use an experience-based approach that incorporates informal sensing and ideas. A lack of invention and originality might be a result of design-focused organisations (Gonzalez and de Melo, 2018).
The leaders and strategic managers need to analyse the economic climate of the marketplace for understanding the necessary strategies. Understanding the economic conditions like the per-capital income, economic growth, interest rate, inflation rate and some other economic areas need to be considered before making any strategic decision. When the entire economic condition of the market is known, it can be helpful for the company to make decisions for the production, distribution or setting the process of the products.
Political instability is also important to be recognized within the market. The changes in the government rules and regulations, interest rates, changes in the government regulations are the major areas of political factors that need to be recognized by the leaders for making any strategic decisions. Political upheaval might have a negative impact on businesses, forcing them to be hesitant to invest in freshly minted money or enter new markets. Even while business owners despise danger, it may drive a shift in activity toward a more safe and stable environment. This means that political opinions can have an impact on both company and individual taxation. Economic laws can have an impact on market interest rates, particularly those for business loans. This is why the skills of recognizing and analysing political uncertainty are crucial for the leadership and management practices.
Market instability is also important to be analysed for delivering a good leadership practice. Before penetrating in any new market, launching any new products, expanding the existing market, the leaders need to analyse the market condition whether there is any market instability or not. It also helps in making effective decisions for the effective business practices. Deflation or inflation is a point of anxiety. Monetary and fiscal policy policies of the government, advancements in technology, natural calamities and weather events are examples of mishaps that can happen. These are the major areas which impact the organizational operations. Depending on the impacts from these factors, the leaders sometimes need to make effective changes and decisions. Therefore, the leaders should recognize the market uncertainty for overcoming the unforeseen problems and issues. It will help them in organizational development and growth.
2.1 “Analyse the factors which impact on the creation of organisational vision”
Organizations are really the people who manage, support, and administer them, not the structures (Eldor, 2020). The philosophy, purpose, fundamental principles, and leadership of the organisation all contribute to the formation of its vision. It is leadership that has the most influence on people when it comes to influencing them since it transcends and transforms the initial aim.
The main components that have an impact on the vision of the company include ideology, leadership, core values and purpose. These are the areas that can impact the vision. Core values and purpose describe ideology. Leadership which has the most voluminous potential to cast an impact can transform the vision of the company.
Ideology
Ideology is the belief, concept and philosophy that guide the organizational members. It also refers to the key “social cognitions” that can organize the beliefs and attitudes of other team members. This is the main area that help the vision of the organization to be shared among one another. With the ideology the leaders of the company can guide, inspire (Capello, 2018). And control the organizational visions. The most important factor in the development of a visionary business is core ideology. It serves as the glue that holds a firm together as it grows. All of this requires an actual, not contrived, fundamental idea. The veracity of the philosophy distinguishes visionary organisations from the competitors.
Purpose
The “purpose” of a company is the reason for its existence. It serves as the foundation for developing a vision, strategy, and other implementation measures in order to attain the objective. Because purpose incorporates a company's essence, it has an impact on its vision. Purpose is broad, fundamental, and enduring. The purpose can guide and motivate the group. Also, Purpose defines vision, while vision inspires purpose (Capello, 2018). When an organizational leader fixes the purpose, it helps them lead the organizational operation towards the right direction. This is why the purpose cast a deep influence on the organizational vision. The organization that has a purpose, it helps the company grow and last for a long time. Purpose also helps the leaders in recognizing the social relationship and connection with the employees and the clients. It thus helps in obtaining the vision of the company.
Leadership
The most significant and important factor that can impact on the vision of a company is leadership practice. The leaders can help the organizational members guide to achieve the goals. Leaders transform the visions of the team members, employees and organization. They motivate the employees and team members to achieve the goals and objectives. They also help the team members develop their capabilities and skills by providing them enough opportunities to learn new skills which are as per the requirements of the organizational goals and objectives. Most importantly, the leaders guide the teams to work on the direction of the goals (Capello, 2018). These are the main areas that the leaders perform for meeting the vision. By describing the vision of the company, the leaders try to create the mind of the employees to nourish the vision of the company and work for the need.
Core values
The fundamental values of a company define its attitude and belief system. This is a set of fundamental ideals and methodologies for determining the optimum strategy in the day-to-day operations of an organisation. Individuals, companies, and teams are not the only owners of their values. The organisational members' behaviour is defined by their fundamental beliefs. It also establishes the firm's foundation (Capello, 2018). Basic principles have an influence on the vision of a firm since they are ideological and purpose-driven. Developing and refining the company's vision requires a focus on underlying principles and their application in an organisational environment.
Group visioning activities should be organised on a big scale in which participants all work together to establish a common understanding of the organization's vision should be organised.
Encouraging involvement by an enormous number of people by using a large-scale gathering format is also crucial. In order to develop a long-term vision for your organisation, form a task group comprised of people from various levels and departments. Creating a "straw vision" intranet gateway on the company's intranet can serve as a resource for employees (Ahmad and Ahmad, 2019).
Top down approach
Top-down analysis is the process of making a decision based on a large variety of indicators. The top-down strategy helps to determine the wider context as well as all of its subcomponents. These elements are frequently the driving force behind the final version. The unemployment rates, inflation rate, federal funds rate, and gross domestic product are all examples that the decision-making process focuses on (Morone et al., 2019).
An analyst looking for a top-down view needs to discover how systemic elements impact a result. Using this approach, forecasting and budgeting are done. With this approach, the biggest factors that can influence the organizational vision are analysed. When the impacts are analysed, the leaders can make effective decisions for the company.
Bottom-up technique
The bottom-up technique differs significantly from the top-down approach. In general, the bottom-up approach focuses on the particular traits and micro aspects of a single stock. Bottom-up investing focuses on the qualities of the firm. This analysis focuses to recognize useful solutions by assessing the peculiarities of a group's traits and values in comparison to the industry.
The assessments have a heavy focus on corporate structures, but they also include other sectors and microeconomic factors (Horlings, Roep, and Wellbrock, 2018). As a result, bottom-up investments may be broad across the marketplace or narrowly focused on a few important characteristics.
The way vision is communicated to external stakeholders is influenced by a variety of factors. How a company's vision is communicated to its stakeholders is influenced by its size and scope. Communication must be adapted to each group of stakeholders as the firm grows in size. The message would need to be adapted to each sector when delivering the vision to stakeholders such as customers, distributors, employees, media, bank executives, investors, and community organisations. The business's expansion is also a problem (Duthler and Dhanesh, 2018). This has a big impact on how stakeholders are communicated with the notion. When a company expands quickly, stakeholders become more aware of what is going on and want to learn more.
Another factor is culture that has a huge impact on the company’s communication of vision to the external stakeholders. Supervisors should also have the ability to influence the company's culture. As a result, an office culture's honesty has a significant influence on productivity. For an organization's culture to be effective, it must be supported by the culture (Duthler and Dhanesh, 2018). External stakeholders do not share the same common standards, ideas, or attitudes as internal stakeholders, thus diversity must be addressed while presenting vision to them. As a result, effective and efficient communication is necessary to ensure that the goal is met.
3.1. “Review theories of leadership and management and assess the implications for your personal development”
Great Man Theory
Theory regarding great man holds that leadership aptitude is inborn and that great leaders are developed rather than born. These viewpoints typically portray leaders as heroic, legendary, and predestined to climb to positions of leadership when the time is appropriate for them (Alvesson and Einola, 2019). Long before the advent of the modern military, the term "great man" was used to characterise a man's capacity to lead, especially in the military. Using this theory, I can lead the team members in the right direction. I need to possess the capability to lead and guide other with effective information and data. This theory is very helpful for meeting the goals and objectives by leading the team.
Trait Theory
It is hypothesised that people are born with unique attributes, such as those associated with great men, that make them better suited for leadership. Leadership and subordinates have a number of personality and behavioural characteristics, which are usually characterised as similarities (Alvesson and Einola, 2019). Because of the lack of consistency in the relationship between leadership attributes and leadership effectiveness, scholars were eventually compelled to shift paradigms in their search for new explanations for successful leadership.
This theory can help me in using my traits including behaviour, thoughts and emotions as an effective leader to understand the issues and problems of the group members. Using my personal traits, I can help them to achieve the desired result. Using my personal behaviour and attitudes I can also guide the team members cherish good values and beliefs which can help them in developing a better working culture.
Situational Theory
The situational theory of leadership says that leaders make choices based on the present state of affairs. Distinct types of decision-making need a variety of different leadership styles. When the leader is regarded to be the most knowledgeable and experienced member of the group, authoritarian leadership may be the most effective style of leadership (Caniëls et al., 2018). A method that is more democratic may be more effective when the members of a group are experts who expect to be acknowledged as such by their peers.
Based on the existing situation, I can make effective decisions whenever it is necessary. The situational theory can help me response to a difficult situation by making proper strategies and plans.
Behavioural Theory
Behavioural theories of leadership are predicated on the concept that exceptional leaders are not born, but rather are developed through practise. The behaviours of leaders are the centre of this leadership paradigm rather than their intellectual or psychological moods. According to behavioural theory, I can inspire and motivate their followers by helping them see the significance of the job at hand and the greater good it serves (Newman et al., 2018). I can help improve the behaviour of the team members which can help them achieve the success of the group. Also I can help boost each individual's ability to realise his or her full potential. With this, I can build b moral and ethical standards.
Skill Theory
This concept says that effective leadership is founded on a person's capacity to acquire and use new knowledge and abilities in a timely manner. The relevance of inheritable characteristics in the capacity to lead effectively is not denied by skills theory, but it maintains that taught skills, a honed style, and learned knowledge are the important keys to leadership success (Newman et al., 2018). Given the b belief in skills theory, leadership training and development might need the expenditure of substantial resources at particular periods.
This theory is helpful in using the skills and knowledge whenever it is necessary. As a leader I need to use my knowledge for various purposes to improve organizational culture or workplace performance. Using my key knowledge and skills I can achive success by guiding other people and helping them obtain the organizational goals.
Transactional Theory
An important subgroup of transactional theories, known as management theories, is concerned with the interrelationships that exist between leaders and followers, as well as how these interactions influence individual and collective performance. These theories of leadership describe leadership via the use of a reward-and-punishment mechanism. Another way of putting it is the notion that a leader's role is to create frameworks that make it crystal apparent what is expected of them as well as the ramifications of either meeting or failing to meet those requirements (Newman et al., 2018).
I can recognise and reward those who achieve success, while can seek compensation or punishment for those who fall short of expectations. Transactional or managerial theory is often compared to the idea and practise of management, and it continues to be a significant aspect of many leadership paradigms and organisational structures. With this theory I can encourage other member by providing them the rewards and facilities.
In order to determine where a company's workforce is lacking in certain areas, a skill audit may be employed. Auditing one's abilities and talents is known as a skill audit. It is necessary to perform a skills audit in order to assess the efficiency of individual talents in meeting personal and professional goals (Dal Mas and Barac, 2018).
Communication skills
A travel and tourism worker's ability to communicate and learn is the most critical talent in the field. In order to get tourists to purchase vacation packages, the travel industry relies on effective communication. Proper communication with the customer is something I am capable at establishing. When I communicate well with the customer, I can build a b relationship. Managing a group of subordinates also requires the use of leadership abilities.
Leadership skills
The ability to effectively lead a team to the intended objective may be achieved via effective leadership abilities. Folks with vastly differing personalities are no problem for me; I have experience analysing and working with such individuals (Donelson et al., 2020). When I have the right kind of leadership skills, I can help the team work more efficiently while also inspiring its members to do their best.
Problem solving skills
Ability to solve problems: this is a talent that is required in any business. The ability to deal with a variety of opposing situations necessitates problem solving abilities. I am able to find solutions to difficulties by using logical explanations and practical approaches.
Technological skills
Knowledge of the latest technical developments is essential in today's business. The team may be handled effectively and scientifically with the help of IT abilities. I am familiar with certain IT abilities that may be used to management tasks.
There are 2 types of objectives that are necessary to be met that is long term and short term.
Long term objectives
Short term objectives
SMART goals
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