In this paper we will discuss how to develop strategic management and leadership skills. It involves four basic steps which we are discussed in detail under this study. Different cases of different organizations are mentioned and studied under this paper including Martin McColl, Apple, Microsoft, Mc Donald’s and Lincoln Electric.
Relationship between leadership and strategic management
For this you need to first explain the relationship between these two terms. In the second step, you analyze how the management and leadership styles would impact on strategic decisions and then you discuss the adaption of leadership styles in many situations.
Link between strategic management and leadership
Strategic management includes resources of a firm such as human, material, financial, organizational to achieve their fundamental goals in an effective way. Whereas leadership is a method of organizing, managing and directing and controlling the workers in a firm to influence them to work in order to pursue the goals and mission of a company. These two terms can be interchanged in Strategic Management.
Managing strategic activities requires effective leadership. The leaders are assigned with the responsibility of setting goals and making decisions for the company.
Impact of leadership styles and management on strategic decisions
Understanding, finding and developing leadership is one of the main concerns of an organization. Leadership plays an important role in forming highly dedicated teams. Because of the change in the nature of organization and the complexity in environment, leaders are now facing many difficulties and challenges than before. Currently, the world does not only demand competitiveness and consistent profitability but also the commitment of forming a safe working environment by maintaining the ethical standards. It is the leader’s job to develop organizational resources in such a way that they can come up with excellent products and services to benefit the stakeholders. If you’re an effective leader, you can come up with a competitive advantage for your organization.
Martin McColl is a company in UK having a democratic leadership where low mid managers and subordinates are also involved in making decisions. The company introduced new convenience concepts in 1999 and acquired Dillion stores in 2000. Its name was changed to Martin McColl retail group in 2005 and today its UK’s leading retail group. Because of these changes, leaders gain confidence among themselves and were allowed to make good decisions for the business. Competition was increased, economic conditions were changed, and developments were being made because of these changes. Supermarkets like Sainsbury’s and Tesco were a big competition for Martin since they were selling the same things. Martin’s strategy was to focus on its core competencies. In Martin’s case, the leaders knew that changes will occur and you have to react actively.
Their organization has...