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:
Functional skills are the core competencies that can be transferred to different work areas like understanding of finance is independent and a finance expert can comfortably adapt to a manufacturing or service industry. Functional skills are obtained by understanding the various processes and the principles applicable to a business function. Functional experts are in great demand as they are specialists and required to manage the business processes like human resources, operations, or finance.
Improving Skills & Competencies
Whenever you are looking for a job or having your yearend discussion with your manager, two terms generally referred to be “Skills” and “competencies”. Today success in a career is an outcome of having essential competencies and building required skills. Skills could be a major distinguishing factor for you to move up on the career ladder and jump from one role to another. Leadership skills when combined with relevant domain and functional expertise can transform your entire career growth and help you have a fulfilling career.
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.
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.
“Level 5 Leadership”, this term was coined by Jim Collins in his book “Good to Great” and it is all about achieving "Greatness" as a leader. This article will explain what we mean by Level 5 Leadership and what the characteristics of a Level 5 leader are. What it takes to achieve greatness as a leader, and what are the steps and strategies that one can use to move up to this top level of leadership.
Develop your Leadership Skills
There are a number of broad skill areas that are particularly important for leaders. Today's demanding global business landscape is defined by relentless change and rising business complexity, bringing new challenges. Leadership skills provide career-enhancing resources and support you to be exceptionally successful in your career. Leaders need to provide direction to their teams and need to be able to make good and timely decisions to define and support strategic direction for the enterprise.
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.
Guide to Technical Leadership Skills
Technical leaders care about building amazing products and the best technical capabilities in their teams. Everything they do is focused on improving the user experience and bringing competitive advantage for their organization. Learn the skills and competencies you need to build a technical career path for yourself that starts with building technical expertise and grows into developing technical leadership.
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.
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