CHAPTER 12 LEADERSHIP IMPLICATIONS FOR STRATEGY. THE STRATEGIC MANAGEMENT PROCESS. KNOWLEDGE OBJECTIVES. INTRODUCTION . ● E ffective strategic leadership is the foundation for successfully using the strategic management process.
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●Effective strategic leadership is the foundation for successfully using the strategic management process.
●Strategic leaders guide the firm in ways that result in forming a vision and mission.
● This guidance often finds leaders thinking of ways to create goals that stretch everyone in the organization to improve performance.
●Moreover, strategic leaders facilitate the development of appropriate strategic actions and determine how to implement them.
●Leaders can make a major difference in how a firm performs.
Strategic leadership: the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary
NOTE: Many examples of well-known CEOs are mentioned throughout the chapter to illustrate their leadership styles.
EFFECTS OF CEO SUCCESSION AND TOP MANAGEMENT TEAM COMPOSITION ON STRATEGY
Benefits of Internal Managerial Labor Market
Benefits of External Managerial Labor Market
Controls: formal, information-based procedures used by managers to maintain or alter patterns in organizational activities
Strategic Controls and Financial Controls in a Balanced Scorecard Framework
“To succeed financially, how should we appear to our shareholders?”
INTERNAL BUSINESS PROCESS
“To achieve our vision, how should we appear to our customers?”
“To satisfy our shareholders and customers, what business processes must we excel at?”
LEARNING AND GROWTH
“To achieve our vision, how will we sustain our ability to change and improve?”
Answering these questions is the first step to develop a Balanced Scorecard
Learning & Growth Perspective
A Model for
Objectives, Initiatives, and Evaluation
a fragmented approach:
i.e. Asking people to increase customer satisfaction has to be backed up with the knowledge, tools, and means to achieve that target.