Link between Strategic management and leadership
A leadership is the bridge between strategic management and their target. It’s because of a leadership that organisation gets their desired tasks and targets. Management is responsible for people and resources in a unit according to the rules or values that have already been set while the leadership set a direction to the people in the group.
The aspect of leadership assumes importance in this age of cut throat competition as effective leadership paves the way by which an organisation achieves its various objectives. In this regard roles of the leader are important as they seek to exhort the employees to increase their participation in the management and effective evaluation of
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The role of leaders is to ensure that the company or an organisation carries out the necessary measures, as it has been devised by the managers or the leaders by which the organisation can ensure profitability and retain its competitive edge (Herman, 2011). In this regard, it may also be said that Qualbank resorted to measures that helped it to cut down the operating costs so as to operate profitably. Apart from that the aspect of leadership is such that it calls for devising effective strategies so as to ensure that the organisational goals are met with success. In context to Qualbank it may be seen that the aspect of strategic management in this institution sought to address the shortcomings of the bank and as a result tried to devise mechanisms associated with effective leadership. In this context it may be further stated that leaders visualise their role in the process of ongoing strategy making and as a result tries to present precise and effective recourses by which anomalies can be reduced (Hitt et al, 2012). Apart from Qualbank Homeco, a wholly owned subsidiary of Qualbank, witnessed losses in its revenue generation. The management of Qualbank decided to bring Homeco under the direct purview of the bank so as to realign its operations and resurrect it. In this regard, several measures were undertaken by the managers. These measures included several strategic reshuffle as well