...PROGRAM GLOBAL STRATEGY AND LEADERSHIP STUDENT SUPPORT SLIDES Semester 1, 2016 MODULE 1 AN INTRODUCTION TO STRATEGY AND LEADERSHIP NEED TO MEET MODULE OBJECTIVES • • • • • • • • Explain the development of the evolution of strategy Outline the ethical responsibilities and challenges that leaders of organisations are confronted by Discuss the different approaches to strategy, and how they differ from one another Identify the strategy process and describe the purpose of each step Explain the concepts of strategic thinking and analysis Describe the various levels of strategy and the links between them Explain the drivers, challenges and benefits of globalisation Discuss the role of the accountant in the strategy process PRACTICE • • • Have you completed the questions in the Study Guide? Have you completed the Learning Examples in the Student Notes? Have you completed the knowledge check questions from this module? Key revision areas: • The different approaches to strategy: rational, processual, evolutionary, systemic • The levels of corporate strategy and the scope/content of each • The drivers, challenges and benefits of globalisation • Evolution of corporate strategy as a concept – Porter, Mintzberg • Operational effectiveness v. strategic positioning • Developing the strategy – see Focus slide • Ethics in leadership: classical and socioeconomic views Strategy and leadership Approaches to strategy ...
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...Global Strategy and Leadership is the capstone segment for the CPA Program professional level. This segment consolidates your learning in the other three compulsory segments, Ethics and Governance, Financial Reporting and Strategic Management Accounting. In the increasingly complex business environment in which organisations operate, characterised by change, uncertainty and escalating competition, the disciplines of strategy and leadership have become critical to successful organisational performance. The aim of this segment is to link the knowledge of management and financial accounting to the concepts of strategy and leadership. Accountants use a variety of technical information to make decisions for the future of the business within an ethical framework of operation. This segment shows that accounting information, ethics, strategy and leadership are applicable to accountants working throughout the world in diverse organisations. As discussed in Ethics and Governance, accounting as a profession is respected internationally and CPAs are employed worldwide. The segment materials address the needs of candidates operating in different international markets in varying roles. This segment builds upon knowledge gained in the other three compulsory segments of the professional level. The concepts of professional ethics and good governance underpin the segment. Candidates who have previously undertaken the Advanced Audit and Assurance or Strategic Management Accounting segments will...
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...the functional areas of business and find ways to communicate information to managers for effective leadership and overall success of the business. Some organizations may consider other, if not all of the functions of business to be important. This paper will summarize the two of functional areas: Leadership and Strategic Planning and the importance of how this relates to the role of a manager. Leadership Leadership is earned. It is not granted by role or rite of passage. Once achieved, leadership is not sustainable without continuous proof of concept (Sederer, 2012). The author touched on a great point, I think it’s often misunderstood, the assumption that - just because one may hold the role of manager that automatically designates them a leader. (Robbins and Coulter, 2012) Strategic leadership is the ability to anticipate, envision, maintain flexibility, think strategically and work with others in the organization to initiate changes that will create a viable and valuable future for the organization. Leadership comes with an unsurmountable amount of task and responsibilities, catering to different forms of leadership is one of them, while still accomplishing the company’s goals. Strategic Planning Strategic planning is essentially the development of a structured scheme or method for effectively achieving a specific goal or objective. According to Kumpf (2004) Strategic plans are important for two reasons: they provide principals, managers and employees with structure...
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...Leaders and Leadership in Organizations Abstract The success of an organization is dependent upon the leadership. Leadership is essential in providing vision, direction, and motivation. The purpose of this paper is to identify the importance of leadership in organizations by exploring leadership theories, styles, traits, and behaviors of effective leaders as well as challenges organizations face in developing and identifying effective leadership. Importance of Leadership Ultimately, the success and failure of an organization is dependent upon leadership. Although there are a number of factors impacting the performance of organizations, the quality of leadership remains at the key focal point. Effective leadership casts vision, provides direction, and influences organizational behavior, good or bad. Leadership academic studies agree leaders possess common qualities and attributes. Leadership styles may differ, but qualities and attributes remain consistent. The role of a leader is critical to the evolving dynamics of an organizational structure. Organizations are more aware of the role leadership has in their organization and are seeking leaders with the style, qualities and attributes needed (Yukl & Lepsinger 2008). An organizations understanding of leadership is often limited to assessing a leader’s ability to motivate others to go beyond what is expected, benefiting from subordinates full potential efforts. Influencing the group of an organization...
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...APPLYING LEADERSHIP THEORIES APPLYING LEADERSHIP THEORIES APPLYING LEADERSHIP THEORIES IN THE SCHOOL SETTING Every organization has a leader who manages the institution with the end task of accomplishing the desired goals. The success of an organization depends on dynamic and effective leadership. Leadership, is influencing people to follow in the achievement of a common goal (Koontz and O’Donnell, 1959). Educational organization has been going through tremendous changes, reform and restructuring. With these changes, Leadership styles and management techniques have undergone changes to keep up with the needs of the global society (Razik and Swanson, 2010). It is still debated on which Leadership styles or theory is the best to achieve success, with an agreement that a combination of different theories based on situational need will be the best. This essay will depict how different leadership theories apply to my school setting as reflected from the leader’s behavior and actions. Applying Leadership Theories Leadership is a matter of how to be, not how to dot it (Hesselbein, 1994).Different theories have been put forward to explain the leadership behavior. They really are not theories but are descriptions of concepts, procedures, and actions (Hersey, Blanchard and Johnson, 2008) as exhibited by the leaders. As a matter of fact, leader at our school site exhibits different strategies and techniques that cannot be included under one particular theory...
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...Module 7 – Leadership and decision-making (13%) Leadership and ethics What is leadership? Identifying leadership attributes Transformational leadership Strategic Leadership The nature of strategic leadership The role of leaders in strategic thinking and decision-making The role of leaders in strategic analysis The role of leaders in setting direction The role of leaders in strategic formulation and selection The role of leaders in implementing strategy The Naked CEO Preview Leaders are required to develop the strategy, drive the change and align the organisation’s structure, resources and culture with the strategy. There are various viewpoints about what actually constitutes the leadership, the qualities required and its level of importance. The purpose of this module is not to present and analyse these arguments, but to provide a practical approach based on the transformational leadership that focuses specially on the role of strategy and strategic leadership. Irrespective of the approach taken to strategic leadership, there exists an important distinction between leadership and management. A leader is primarily involved in: setting direction, aligning and communicating, and inspiring and motivating. A manager is primarily in charge of: planning and budgeting, organising and staffing, and controlling and problem solving. Objectives You should be able to: (1) describe the role of ethics and corporate social responsibility in leadership; (2) identify and discuss...
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...Strategic Leadership In An Organizational Change Process Management Essay 10/12/15 13:51 Strategic Leadership In An Organizational Change Process Management Essay The following essay will critically discuss the role of strategic leadership in an organizational change process using relevant theories and example. The objective of this paper is to come up with a solution of the many challenges that occur in the process of organizational change through implementing proper leadership. Organizational change refers to a situation whereby an organization adopts a new strategy in the way it carries out its activities and management for better or removes a major section or an operational department (McNamara, 2011). Strategic leadership on the other hand refers to the implementation of strategies in the management of workers in any organization. Organizations always go through change, at times gradual and other times drastic throughout their normal life cycle whereby organizational leaders may create change driving forces within the organization. For example, radical changes may take place in an organization leading to structural transformation through which organizations attempt to revitalize business orientations through changing the reporting structure. Other changes, for instance, merger and acquisition, transforming the top management of an organization, reorganization and restructuring of the company may affect the organization culture and processes. Most of these...
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...Strategic Leadership by Executives Leadership Management, SS 2012, Group 1121 DO2, Master of Finance 2011 0 Table of content Table of content ...........................................................................................................1 Introduction ..................................................................................................................2 Framework for the Influence of Leaders ......................................................................2 Hard Facts on the Success of Executives....................................................................3 Evolutionary change and strategic leadership .............................................................4 Executive Tenure and strategic Leadership.................................................................6 Competing values ........................................................................................................7 Executive Teams..........................................................................................................8 Monitoring the Environment .........................................................................................9 Formulating and executing strategy ...........................................................................10 Conclusion .................................................................................................................12 1 Introduction The following assignment with the title...
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...identified the importance of leadership and workplace learning as critical determinants of M&A activities and outcomes. However, surprisingly little systematic attention has been paid to conceptualising or studying the impact and effect of either leadership styles or learning on the success of M&As – either in the academic or in the practitioner literature (Cartwright and Cooper, 2001) Although scholars and practitioners recognise that acquisitions frequently fail to live up to their potential (Larsson and Finkelstein, 1999), the impact of leadership on the outcomes of the acquisition process and the learning that takes place, has not been well developed or even widely recognised. A review of scholarly and practitioner focused writing on M&As suggest that while much has been written on the actual M&A process, others have only occasionally noted the critical importance of leadership and learning in the success or failure of M&As. Even in those cases where the leadership impact has been acknowledged, past work on M&As has neither examined nor proposed any details concerning what constitutes what learning that actually takes place during M&A or how it makes a difference. A review of academic and practitioner literature on M&A reveals that discussion of the primary determinants of M&A process and outcomes rarely ever mention the workplace learning that takes place nor the leadership necessary to facilitate that process. Instead, when they do refer to leadership, they tend to...
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...HRM as a Strategic Partner The main purpose of this article is… The purpose of this article is to focus on the importance of the partnership of the human resource department to the success of organization and its workforce. “Profitability is one of the primary reasons why human resources management should be a strategic business partner.” (Ruth Mayhew, 2014) The key question that the authors are addressing is… The key question the authors are addressing is “Why Is It Important for HR Management to Be a Strategic Business Partner?” Recognizing the worth of HR management is a serious step in developing business strategy, and it takes human resources management’s cutting-edge principles and business insight to put those plans into action. Although many HR functions have begun to play a strategic role in guiding succession management, knowledge retention, and other business initiatives, there is still opportunity for such functions to improve and truly transform key influencers and decision-makers. The persistent need for organizations to maintain a diverse pool of talented leaders, capture expertise from exiting employees, and outsource transactional activities to focus on core capabilities has heightened the importance of the HR function. The most important information in the article is… The most important information in this article is providing insight on how human resource departments/manager affects a company’s profitability, funding, perception, balance...
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...STRATEGIC LEADERSHIP Managers provide leadership to an organisation. Organisational leaders influence the behaviour of subordinates so that they willingly and enthusiastically work towards the achievement of organisational objectives. Strategic leaders manage the strategic management process that is designed to help the organisation achieve its objectives. Strategic leadership is the ability to lead an organisation towards the achievement of its objectives. The tasks involved in exercising strategic leadership are typically to anticipate, envision, maintain flexibility and empower others to create strategic change as and when necessary. Strategic leaders are the lynchpin in the strategic management process. Among the strategic leaders, we have managers operating at different levels of an organisation: corporate-level, business-level, functional-level and operational-level. • Corporate-level managers include the chief executive officer (CEO), senior executives and the corporate staff. The corporate-level managers manage the strategic management process for the whole organisation. These managers may carry designations such as CEO, managing director, executive director or president. • Business-level managers are the strategic leaders at the business, division or SBU levels. These managers manage the strategic management process at the business-level. These may carry designations such as the general manager or vice-president. • Functional-level managers are the strategic leaders...
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...Strategic marketing in Tesco Plc Executive summary Tesco is one of the biggest names in retail and deals in a wide variety of products and services. By its effective marketing strategies it has been a great success and has been able to maintain its leadership position. The report aims at examining the strategic marketing of Tesco and seeks to find the ways in which it has been able to maintain its leadership position. In order to get suitable and reliable information of the operations of the company, secondary data from the company’s website, scholarly articles, reports, etc have been utilized. The report also uses various strategic analysis tools like PESTLE analysis and SWOT analysis to access the competitive position of the company and its internal as well as external environment. It has a strong leadership position in retail and its low cost strategy has been a great success to attract more number of customers. It has also operations in other countries where it has emerged successful by adapting to localization techniques. It is recommended for the organization to increase its international presence in order to derive more growth and profitability. This report highlights the strategic marketing of Tesco and the ways in which it has created a leadership position in the extremely competitive market and industry in which it operates. The market position of Tesco has also been accessed by the use of different strategic tools like SWOT analysis and PESTLE analysis. ...
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...Organizational leadership 3 marks 1) What do you mean by “charisma”? Ans: Charisma is a trait found in individuals whose personalities are characterized by powerful charm and magnetism (attractiveness) and superior capabilities of interpersonal communication and persuasion. According to Weber, charisma is a pure form of authority based on the gift of divine grace. The term charisma is applied to a certain quality of an individual personality by virtue of which he is considered extraordinary and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities. 2) Who is a charismatic leadership? Ans: Charismatic leadership is a leadership based on the leader’s ability to communicate and behave in ways that reach followers on a basic, emotional way, to inspire and motivate. 3) Define the term “transactional leadership”. Ans: A transactional leader is one who guides and motivates his follows in the direction of establish goals by clarifying role and task requirements. It involves exchange relationship between leader and the followers. It is a perception for mediocrity and that transformational leadership leads to superior performance in organization facing demands for renewal and change. 4) Differentiate between transformational and transactional leadership. Ans: ...
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...Achieving and Maintaining Strategic Competitiveness in the 21st Century: The Role of Strategic Leadership Author(s): R. Duane Ireland and Michael A. Hitt Source: The Academy of Management Executive (1993-2005), Vol. 19, No. 4, Classic Articles from AME (Nov., 2005), pp. 63-77 Published by: Academy of Management Stable URL: http://www.jstor.org/stable/4166206 Accessed: 10-05-2015 07:37 UTC REFERENCES Linked references are available on JSTOR for this article: http://www.jstor.org/stable/4166206?seq=1&cid=pdf-reference#references_tab_contents You may need to log in to JSTOR to access the linked references. Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at http://www.jstor.org/page/ info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@jstor.org. Academy of Management is collaborating with JSTOR to digitize, preserve and extend access to The Academy of Management Executive (1993-2005). http://www.jstor.org This content downloaded from 203.101.161.82 on Sun, 10 May 2015 07:37:52 UTC All use subject to JSTOR Terms and Conditions I Academy of Management Reprinted from 1999, Vol. 13, No. 1 Executive...
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...relationship between strategic management and leadership Q: Explain how has leadership been used to support such strategy and develop an organizational culture that could accept and how the link worked between strategic management and the leadership? 1.1 (Criteria 1.1 Explain the link between strategic management and leadership) To discuss the relation between the strategic management and leadership we must have understanding what is the meaning of these two terms. Strategic Management and Leadership are interconnected with each other; if we understand the concept of said terms it is easy to explain the whole process in a good manner. Strategic Management: This phrase can be defined as “Strategic management is the process of managing the pursuit of organizational mission while managing the relationship of the organization to its environment” (James M. Higgins). “Strategic management is defined as the set of decisions and actions resulting in the formulation and implementation of strategies designed to achieve the objectives of the organization.” (John A. Pearce II and Richard B. Robinson, Jr.). “Strategic management is the process of examining both present and future environments, formulating the organization's objectives, and making, implementing, and controlling decisions focused on achieving these objectives in the present and future environments” (Garry D. Smith, Danny R. Arnold, Bobby G. Bizzell). “Strategic management is a continuous...
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