1. Strategy, Leadership & Culture Flashcards
Define leadership?
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What are the Qualities of a Good Effective Leader?
The process of influencing an organisation or group in its efforts towards achieving an aim or a goal (Johnson et al, 2017)
Qualities of Effective Leaders
- Visionary
- Ethical
- Charisma – ‘star quality’
- Good communication skills ability to influence, speak clearly and listen
- “Walk the talk”
- Expert in their field
- Risk-takers, including the risk of unpopularity
Briefly Explain the 5 perspectives on leadership? (Yukl 2013).
1 Trait Approach
Good leaders are “ Naturally born” with a base level of natural skills Confidence, Personable, Energy, Intuition, Persuasiveness.
2 Behaviour Approach
Rhat you learn how to manage given situations. i.e. seeing how others manage the industry and then following that approach.
3 Power Influence Approach
how much power a leader has and how they exercise it (autocratic vs. participative).
4 Situational Approach
Successful leadership skills and behaviours will depend on the circumstances of the situation
5 Integrative
Using more than one approach
What are the key roles in strategic leadership?
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What do these roles involve?
1. Top Manager ( C-Suite)
- Envisioning future strategy
- Aligning the organisation
- Embodying change and act as a role model
2. Middle Managers
- Advisers to senior management,
- ‘Sensemaking’ of strategy into specific contexts.
- Reinterpretation and adjustment of strategy as circumstances change
- Local leadership of change
Briefly describe the 2 main types of leaders?
Transactional / Instrumental leadership:
Leadership based on systems and controls, seeking general improvement rather than change. (More focused on the day to day operations and likely be lower levels of management)
Charismatic/Transformational leadership
Leadership that energises people and builds a clear vision of the future, seeking to change that status quo
What are Balogun and Hope Haily’s (2008) change management styles?
What is it used for?
Hint? D.I.C.C.E
- Direction - Gradual change directed by management, in a top to down style
- Intervention - Use of change agent
- Coercion - (More aggressive form of direction) Change is imposed by management for urgent needs
- Collaboration & Participation - Collaborate with people to enact change
- Education & Communication - Clearly communicate the need to change
Used to assess which change management style, would be appropriate in a given context.
What is entrepreneurship?
and
What is intrapreneurship?
Entrepreneurship: the process by which individuals identify and exploit opportunities for new products or services that satisfy a need in a market.
Intrapreneurship: Implementing entrepreneurial principles within an organisation. Such as identifying cost-saving or improving the efficiency of processes.
What is ‘Strategy’?
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What are the Horizons of strategy?
A strategy is the long term direction of an organisation.
Horizons
- Defend and Extend Current/Core Business
- Build an emerging business to provide to sources of income
- Ventures are new and risky and might provide returns in the future
What are the three levels of strategy?
1. Corporate Strategy
- Overall Purpose of the organisation. (The type products or SBU portfolio the company will have, markets the business will focus)”What type of business should we be in?”
2. Business Level Strategy
- How will the company be successful in the market place, “Tactics to win sales, make a profit and beat the competition”
3. Operational Strategy (Resources)
Operational Methods to implement the tactics on a day to day level. How will the divisions of the company support the company
What is a Mission statement? and What is the purpose of it?
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What is a Vision Statement?
A Mission Statement: is a formal document that states the organisation’s mission.
What is its purpose?
- Communication with stakeholders
- Promotes desired behaviour
- Support for Strategy & Purpose
- Adherence to Core Values
- Adoption of Policies
Vision Statement: Expresses the future that an organisation is trying to create. If all the plans went well this what it would look like.
What are the four elements of the Ashridge College Model of Mission?
- Purpose
- Values & Morals
- Policies & Standards of Behaviour
- Strategy
What are the common criticisms of a mission statement?
Users see the statement as meaningless if they are seen to be
- A Public Relations Exercise
- Over Generalised and provide no real guidance
- If the are ignored
- If poorly constructed it could create a conflicting statement and confuse users
- Unsupported by specific objectives
What are the Levels of Objectives?
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What is Drucker’s (1989) Approach to objectives? S.M.A.R.T
Levels:-
Corporate - small number of overriding/overall mission. High-level goals.
Divisional/value-creating process - Each of the high-level goals is supported in
turn by more detailed, subordinate goals.
Functions/Individual - the pattern is continued downwards until we reach the work targets of individual members of the organisation
S.M.A.R.T
- Specific (Clear Obj)
- Measurable (Against a Standard)
- Achievable
- Realistic/Results-driven
- Time (Deadline)
What are the strategic values of organisations?
1. Ethics in business what are the ethical views and standards of the organisation?
Leaders are responsible for a culture of high ethical standards and set an appropriate ‘tone from the top’.
Organisations can seek to safeguard their ethical standards by publishing a formal code of ethics.
2. Corporate social responsibility
The approach taken by an organisation to provide benefit to society in general, and how the company generates a profit?
3. Corporate Governance
Concerns the conduct of senior officers in an organisation. It also relates to the way organisations are directed and controlled.
Highlight Johnson et al (2017) main elements of strategic management?
1__. Strategic Position
- Where do we want to go? (Stakeholder Management)
- What constraints exist on our resources? (6xM’s)
- What are the key threats from the external environment? (PESTEL, Porter Diamond and Porters 5 forces)
2. Strategic Choices
- On what basis do we decide to compete?
- Which direction should we choose?
- How are we going to achieve the chosen direction?
3. Strategy in Action (Implementation)
- Resource management.
- Organisational structure.
- Management of change.
What is organisational culture?
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What are the main factors that influence an organisation’s culture?
A pattern of shared basic assumptions that are considered valid and transmitted to new members (Schein, 1985) or “The way we do things around here.”
Main Influence on Culture:-
- National Culture
- Founders
- History of the Organisation
- Style of Management
- Reporting Hierarchy
What are the 6 Drivers and Conclusion of the Cultural Web? (C.R.O.P.S.P.S)
Control Systems (Monitoring & Rewarding Performance)
Routines (Informal Behaviour) & Rituals (Formal Behaviour)
Organisational Structure (Hierarchy i.e. top-down (army) or flat (charity)
Power Structures (Who makes the decisions)
Symbols (Logos, Job Titles, Uniform etc.)
Paradigm (Conclusion: Is there anything we are seeing a lot of as common threads).
Stories & Myths (Key Messages Given both Inside & outside the organisation)
