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:
Concept & Definition of Stress
Stress is a popular expression used by people in day to day life. Pressures of day to day living sometimes necessitate coping or dealing with them and stretch the body beyond its natural capacity. They are called stressors. Stress is a natural, ongoing dynamic, and interactive process that takes place as people adjust to their environment.
Recognizing Stress & its Sources
As an individual, you almost certainly know what stress feels like. Stressors are events or situations to which people must adjust. Stressors may be physical or psychological in nature. The level of severity of stress is determined not merely by exposure but the intensity, duration, and frequency of stressors. The sources of stress are many. They arise from multiple areas both with the individual and from the environment.
Time management is the process of planning and exercising conscious control of time spent on specific activities, especially to increase effectiveness, efficiency, and productivity. The best time management techniques improve the ways you work. Time management refers to managing time effectively so that the right time is allocated to the right activity. Learn more about the five steps for effective time management viz. study, identify, analyze, decide, and implement.
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.
Importance of Technical Skills
Today’s business environment is complex and changing at a fast pace. Tough business problems require technical expertise to create cost-effective & sustainable solutions. All industries need some kind of technical skills to accomplish complex actions, tasks, and processes relating to computational and physical technology as well as a diverse group of other enterprises. The acquisition of advanced technical skills requires specific education certification or training, often with practical hands-on learning.
In our present Hitech scenario, society is changing very fast. What are the skills that are most relevant for leaders in relation to the changing economic environment? Leaders need to develop skills to drive innovation and change in order to play a more central role in their organizations’ activities. How do managers accept the change and meet business expectations by becoming a key figure in driving change and innovation?
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.
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.
Stress is a product of the busyness of modern life. It has assumed grave dimensions ever since the emergence of industrialism. In fact, stress is a natural, ongoing, dynamic, and interactive process that takes place as people adjust to their environment. Stress can be brought about by positive or negative life events. Distress can cause disease and eustress or positive stress can promote wellbeing and increased productivity. Learn to recognize and be responsible for your stress, and learn the ways to manage stress.
Stress is an essential part of our life. No one can live without stress. Stress can be beneficial as well as harmful. Stress as a positive influence adds excitement and hope while as a negative influence it can result in destructive feelings, anger, and depression. Although the general orientation to stress is to consider unfavorable outcomes, yet one must have observed that stress experiences may also facilitate the development of effective and varied coping behavior, increased personal resources, and lead to a sense of competence in development. Stress at a moderate level is not only inevitable but may be useful for physical and mental well-being.
© 2023 TechnoFunc, All Rights Reserved