Management outlook and procedures have been revolutionized by more and more innovations over the recent years. It is no longer possible to follow traditional approaches to develop your organization's direction, its management as well its effectiveness. Senior managers need to be good decision-makers. In this section, we introduce concepts for strategy, strategic planning, strategic leadership, their exact meaning and associated terms, and how to use them.
Leaders need to motivate and influence their employees with their thought leadership, but many lack knowledge of the concepts, tools, and frameworks that are most helpful in thinking strategically. This section will give you a practical but rigorous foundation of frameworks and tools to help you be a more effective participant in strategic decision making.
You have undoubtedly heard the word strategy and perhaps know a bit about the concept of strategic planning. These have become important parts of management vocabulary and thinking. The word strategy is derived from the Greek word “strategtia” meaning "generalship" which was used first around 400 B.C. The army general organizes and uses his troops for military action. It is this deployment of troops and soldiers that is the basic meaning of the word.
The dictionary meaning of strategy is, “the art of so moving or disposing of the instrument of warfare as to impose upon the enemy, the place time and conditions for fighting by oneself.”
This connotes the art and science of directing military forces. In business parlance, there is no definite meaning assigned to strategy. However, in an organizational context strategy relates to the science or the art of identifying and applying your human and physical resources and carefully preparing for attaining the future goals you have set for your organization.
The strategy is to create a unified, comprehensive, and integrated plan to ensure the achievement of basic objectives through the proper implementation process. The strategy is in fact a plan or course of action or a set of decision rules which are based on policies, objectives, and goals and targeted at moving an organization from its current position to a desired future state. Challenges of the current environment are evaluated to find strategic advantage out of them and strategy also defined the requisite resources that are needed to implement a plan.
A good strategy is one that helps in the accomplishment of the organization’s objectives. The top management of an organization is concerned with the selection of a course of action from among different alternatives to meet the organizational objectives. The process by which objectives are formulated and achieved is known as strategic management and strategy act as the means to achieve the objective. A few aspects regarding the nature of strategy in the organization context is as follows:
Tools for Developing Your Team
If a manager has too many weak spots in the talent of the team, the ability to empower the team members to independently execute the project is impaired. Assignments fall behind schedule or stretch out because the needed skills or knowledge are not in place when needed. To successfully execute important projects, hiring talented people, and increasing the talents of existing staff are most important.
Understanding Corporate Strategy
Management outlook and procedures have been revolutionized by more and more innovations over the recent years. It is no longer possible to follow traditional approaches to develop your organization's direction, its management as well its effectiveness. Senior managers need to be good decision-makers. In this section, we introduce concepts for strategy, strategic planning, strategic leadership, their exact meaning and associated terms, and how to use them.
Tips for Effective Time Management
After studying and analyzing how time is spent, why time is wasted, and where time is wasted you need to decide about the changes required for effective utilization of time. For this purpose, a large number of remedial measures can be taken by you. The first and foremost determinant of a planned and purposeful utilization of time is to develop consciousness of the value of time at all levels of the organization. Planning, goal setting, and defining priorities are concerns to addressed immediately.
At different points in your professional career, it is helpful to identify your core values. Values are the qualities considered to be the most important guiding principles that determine the priorities in your life and greatly influence your career choices. Your career brings happiness when it is in agreement with the beliefs you have about what is important and meaningful to you. Awareness of your values will help you develop a clearer sense of what's most important to you in life.
Building Your Domain Knowledge
Domain knowledge from a career management perspective encompasses the understanding of industry dynamics and business processes of the target operational area. Domain expert exhibits clear knowledge in the respective industry and understands the industry concepts in general. It is always recommended to best highlight your exposure of domain in your resume or cover letter. TechnoFunc provides you with the best tutorials to gain domain knowledge in a large number of industries and business areas.
A good leadership style is something that every effective leader must have in order to succeed, but identifying what that entails or does not entails might be difficult to understand. Most of the research on leadership focuses on the exemplary, best practices, and positive attributes of effective and successful leaders. This article talks about a new approach to learn leadership using lessons from bad leadership. That is the lessons to be learned by examining leaders who have not effectively exercised their power, authority, or influence.
Narrative leadership is interpreted as the leader who aspires to construct leadership by telling stories. Leadership is a task of persuasion, of winning people’s minds and hearts. Storytelling is thus inherently suited for the task of leadership. Learn about the narrative leadership style and how to use this style to inspire and motivate followers or to manage change.
In the early years, most jobs were skill-oriented, and with the development in lifestyles and technology, the current jobs are knowledge-oriented jobs such as management, accountants, design, or computing. Career paths encompass varied forms of career progression and this article discusses how we can build a fulfilling career? Learn here about career paths, industries, and opportunities for gaining experience in the field of your choosing.
Authentic leadership is an approach to leadership that emphasizes building the leader's legitimacy through honest relationships with followers which value their input and are built on an ethical foundation. The authentic leader acts upon his or her values and beliefs, and inspires others to do the same, is committed to know and develop oneself. Are you committed to developing yourself; know your motivations and the purpose of your leadership? Read this article to know more about authentic leadership style and discovering your authentic self.
Team Development by Building Trust
As your team begins to work together, you need to establish a way each team member can exchange ideas and build mutual trust. Successful groups are built on trust and collaboration. A free exchange of ideas, in an open environment, will allow your team to get to know each other and enable you to check on how they work together. Learn some tips to help build team trust and establish personal bonds.
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