1.Explain the link between strategic management and leadership?
Strategic management __ Defined as a set of decisions and actions which strategic management undertakes resulting in the formulation and implementation of strategies in order to achieve objectives and proceed about attaining them. Strategic Management is all about making and implementing decisions and identifying the direction in which an organization is moving.
Strategic management typically involves : Strategic management analyze internal and external strengths and weaknesses.
* Formulate action plans * Execute action plans
*Review the outcomes and make changes when desired results are not being produced.
Manager Traits
* Execute a Vision ( Break down a strategic vision into a roadmap to be followed by the team).
* Ability to Direct ( Review resources needed and day-to-day work efforts).
* Process …show more content…
Richard L.H. & Katherine C. B. (2005) introduced the 5 leadership styles.
Autocratic Leadership __ Leader is a dictator who orders the task, he is decision maker while the employees are the followers of the decision. Leader is the decision maker, does not allow the employees to participate in the decision making process.
Leader makes as many decisions as possible and thus uses his absolute decision making power which has to be followed by everyone. This leadership style can be used in situations where employees are average or poor performer, quick and efficient decisions are required and cannot afford waste of time in consulting with employees. In this approach leader keeps an eye on his team who implement on the given directions, Thus increasing the performance of employees as well as the quality.
Bureaucratic leadership __ Follow theories and procedures very strictly, exact standards are followed to maintain their quality and increase safety. In Pharmaceutical firms this leadership style is practiced to prepare a
Strategic management __ Defined as a set of decisions and actions which strategic management undertakes resulting in the formulation and implementation of strategies in order to achieve objectives and proceed about attaining them. Strategic Management is all about making and implementing decisions and identifying the direction in which an organization is moving.
Strategic management typically involves : Strategic management analyze internal and external strengths and weaknesses.
* Formulate action plans * Execute action plans
*Review the outcomes and make changes when desired results are not being produced.
Manager Traits
* Execute a Vision ( Break down a strategic vision into a roadmap to be followed by the team).
* Ability to Direct ( Review resources needed and day-to-day work efforts).
* Process …show more content…
Richard L.H. & Katherine C. B. (2005) introduced the 5 leadership styles.
Autocratic Leadership __ Leader is a dictator who orders the task, he is decision maker while the employees are the followers of the decision. Leader is the decision maker, does not allow the employees to participate in the decision making process.
Leader makes as many decisions as possible and thus uses his absolute decision making power which has to be followed by everyone. This leadership style can be used in situations where employees are average or poor performer, quick and efficient decisions are required and cannot afford waste of time in consulting with employees. In this approach leader keeps an eye on his team who implement on the given directions, Thus increasing the performance of employees as well as the quality.
Bureaucratic leadership __ Follow theories and procedures very strictly, exact standards are followed to maintain their quality and increase safety. In Pharmaceutical firms this leadership style is practiced to prepare a