Abstract of Strategic Management
Actions taken by the leader have a significant impact on the strategic management of an organization. This may determine the organization’s vision and mission much more accurately. This framework makes it much simpler for the organization to implement strategies that will achieve the goal it has set for itself. The purpose of this study is to carry out a comprehensive analysis of the existing body of literature to determine the role that leadership plays in formulating and executing strategy. According to the study’s findings, leadership functions as a link between the soul of an organization and its physical structure. Leadership needs an evaluation system to guarantee that the overall process is effective. Because of this, it will be simpler to recognize issues and devise new strategies to keep up with change as it occurs. This evaluation process can provide support and assistance to the development the institution is making.
Introduction of Strategic Management Research
Leaders can substantially impact how a company conducts its operations, regardless of their position or tenure. The strategic management method can be successful if implemented by a leader with good strategies. Strategy-following leaders can accelerate the growth of appropriate strategic management and describe how they should be enforced. Higher-than-average results and strategic competitiveness are achieved through these actions.
Leaders in various companies are acutely aware of the necessity to develop long-term plans for their organizations and actively implement those strategies. A general leader in an organization is responsible for setting the direction, strategizing, and overseeing the day-to-day operations. In addition, it strives to align the organization with the issue. Morale is boosted when leaders disseminate the energy. Developing relationships with all stakeholders is a key component of this process.
In addition, it guarantees that the organization is a place where people can learn and grow. Leadership is tasked with ensuring that subordinates carry out the organization’s objectives in an efficient manner. According to this definition, strategic management can transform organizations into successful ones. The organization’s executives must inspire and motivate employees to work together to make the company’s vision a reality. It is common for executives to take on a wide range of responsibilities as part of their firms’ strategy development and implementation (Jabbar and Hussein, 2017).
They build a strategic vision and mission, define goals and objectives, design the strategies, execute them, and then assess the strategy’s performance and execution. An entirely new standard has been set for institutions to attain strategic business goals, manage organizations efficiently, and compete globally in many sectors. As defining the functions of leadership is still a big challenge, those roles can have a significant impact on organizational effectiveness. We must address the topic of leadership’s role in the organization. There are no guarantees when implementing a strategy because it takes a consistent and equivalent pledge from top-level leadership. Highlighting different directions for the firm is a requirement of leadership (Tate, 1992).
Aims and Objectives of Strategic Management
Following are the aims and objectives of the project.
- To determine the role of a leader in an organization.
- Strategies linked to an Organization.
- Visionary and inventive leader qualities.
In this research, the qualities of a leader and their role in Organization improvement will be determined.
Literature Review of Strategic Management Research
Strategy implementation is the leader’s ability to predict, imagine and maintain flexibility and to empower others to make a change in strategic management when appropriate (Appelbaum, St‐Pierre and Glavas, 1998).A strategic leader in today’s fast-moving global business matrix must adapt to an ever-changing global landscape, to successfully lead others within the organization. Strategic executives must consider the company’s strategic management environment. The organization’s information-processing activities are also overseen and coordinated by this department. Some well-known actions that determine strategic leadership can aid in the effective implementation of a strategy:
- Determine strategic management direction
- Ensuring that robust business culture is preserved
With leadership, an individual is accountable for enforcing and inspiring the team to establish and achieve company goals. The leader’s work is crucial in guaranteeing the efficiency and success of the company (O’Reilly et al., 2010).In order to effectively lead others, supportive leadership is a necessity. They should not discriminate employees based on their personal background. It is crucial that they show gratitude for everyone’s hard work (Brooke, Russell and Price, 1988). Organizational success can only be achieved if all levels of the company have good ties. The leader should include everyone in strategic management since it positively influences overall performance (Benner and Tushman, 2003).
Moreover, to realize the strategic management, a leader must be dedicated to that vision. A leader’s aspirations must be in line with the organization’s long-term strategic management and objectives if they are to be successful. The power entrusted to this leader must be put to good use by behaving truthfully and loyally. The leader must be aware of the company’s capability to transform.
Therefore, to fulfill the company’s vision, the strategies employed are critical to its performance. Leadership combines strategy and vision to enhance the firm’s ability to perform at a high level or as required. Most leaders are employing adaptable and process-improvement tactics to keep up with the quick pace of change in today’s company climate. Strategic management revolves around decision-making, which is heavily influenced by the leader’s actions. It streamlines the entire procedure, from creating a conceptual framework to completing an evaluation. Even strategy implementation relies on a high degree of decision-making efficiency. The vision, the strategy, and the values of an organization are all influenced by leadership in one way or another (Anwar and Hasnu, 2013).
The culture of an organization is made up of the following three factors. The organization’s leader must grasp the organization’s vision. Everyone should be aware of the long-term goals. Everyone should be able to understand the vision, which should be clear and uncomplicated. The strategic management approach revolves around the organization’s vision (García‐Morales, Matías‐Reche and Hurtado‐Torres, 2008).
Leaders execute the vision’s approach. Strategy formulation involves setting a specific, well-defined path. Leadership must relate the strategy to long-term objectives. Providing a values system will assist developing a learning culture. Values govern and drive an organization’s actions. Goals and strategies should reflect these. An appreciative leader makes strategic planning and execution simpler. Leadership is about uniting people around a plan. Everyone should be involved to provide flexibility and changeability.
Planning and executing corporate strategies to achieve desired results are the domains of strategic leaders. Strategic leaders are essential to the overall success of a business. Leaders play a variety of functions in the organization, depending on the situation. The function of the leader is as fluid as the event itself. In a nutshell, executives set short-term and long-term goals for the organization. Before moving on to developing plans or formulating a strategy, they aim to involve everyone in the process of forming a team to carry out the plans. A leader’s commitment and that of their subordinates must be ensured at all times. Afterwards, they give the necessary resources and encourage their staff to implement the plan. In the end, they review the entire process and look for areas of improvement (Palladan, Abdulkadir and Chong, 2016).
Research, case studies, and recommended models will show how a leader’s visionary and innovative approach is linked to the effectiveness of organizational change in this dissertation (Mariasse, 1985).
Methodology for Strategic Management Research
The study section devoted to showing how data is collected and analyzed is known as the methodology. The majority of the study is case-based and qualitative. The research’s exploratory and qualitative nature justifies using a case study approach. It is no longer unusual to do qualitative research using case studies. Flexibility is one reason we employ research studies in our research, as it allows the use of various data collection methods.The study uses previous research. Document/content analysis was utilized to acquire data. The study will include research papers and textual and multimedia items, from T.V. shows to websites, for document/content analysis, or textual analysis. Besides phone and online interviews, important data was collected.As part of the content analysis process, interviews were used to connect case studies to the concepts found in the literature. Interviews were also used to supplement documentary analysis and elicit additional questions for further investigation. In addition, making this thesis more logically organized was beneficial.
I decided to break my central question into three additional sub questions, to make the project more digestible and reader-friendly, before moving on to the real study topic. Firstly, the readers need to be provided with sufficient background information to comprehend the characters used in the thesis.
In this chapter, three additional or related study questions will be focused on:
- As a leader, what role does having a clear vision play?
- What is the significance of a new approach?
- Why is it necessary for businesses to change?
There is a constant need for businesses and organizations to adapt their business model to the ever-changing business environment and trends in order to remain competitive. If an organization wants the best results, it needs a leader who is not only able to analyze and understand the existing state of the company’s operations, but who can also come up with creative solutions to problems utilizing their vision and putting these solutions into action. “Vision” and “innovative approach” are the two traits of a successful leader that will be examined in this thesis, in light of the importance of organizational change and the leadership’s role in the development.
Deductive Research
Deductive reasoning and fast thinking are key skills. Experts may make conclusions or restrict a broad assumption to a more precise notion or action based on the assumptions’ validity (O’Reilly et al., 2010). This course component provides deductive reasoning examples as questions and answers to help students understand. This method is sometimes referred to as top-down. The investigation may begin with a hypothesis and then test a few possibilities. Verifying theories narrows the focus. Initial assumptions using real data may then be tested.
Research Methodology
A hypothesis (or set of hypotheses) is deduced from an existing theory, and a research strategy is established to test it. Some say deductive reasoning means thinking from particular to universal (SIEROCKI, 1989).This link may not be suitable in all cases. Hypotheses are produced from a theory’s premises and evaluated against real-world experience. Inductive reasoning depends on observations, whereas deduction uses a pattern evaluated against the facts. The researcher will use deductive reasoning to generate hypotheses to test throughout the study. The best research methodologies are utilized to test theories.
