Unit 2 Flashcards
Define strategic leadership.
A person’s ability to anticipate, envision, maintain flexibility, think strategically, and work with others to initiate change that will create a viable future for the organisation
What is the essence of leadership?
Having a vision that is well communicated, building trust among colleagues, and taking effective action
What are the two views on strategic leadership?
- Great leader view of strategic leadership
- Great group view of strategic leadership
What characterizes the great leader view of strategic leadership?
CEOs believed they alone were responsible for strategic leadership, functioning in isolation and using a top-down approach
What characterizes the great groups view of strategic leadership?
The organisation is seen as a community with strategic leadership distributed among diverse individuals
What is a key component of strategic leadership?
Determining the company’s purpose or vision
List three components of strategic leadership.
- Exploiting and maintaining core capabilities
- Developing human capital
- Sustaining an effective organisational culture
What is the purpose of a vision statement?
To answer the question: ‘What do we want to become in the future?’
What should be avoided when formulating a vision statement?
Creating a vision statement that is unrealistic or not achievable in the long term
What is strategic intent?
Envisions a desired leadership position and establishes the criterion the organisation will use to chart its progress
List three attributes of strategic intent.
- Sense of direction
- Sense of discovery
- Sense of destiny
What question does a mission statement address?
‘What is our business?’
List four focus areas of a mission statement.
- Reason for the organisation’s existence
- Strategy in terms of the nature of the business
- Behaviour standards and culture
- Values, beliefs, and moral principles
What is the mission statement of First National Bank?
To help our customers achieve economic success and financial security by building enduring, mutually beneficial relationships based on trust and integrity
What is one example of a mission statement from Coca-Cola South Africa?
Our vision is to craft the brands and choice of drinks that people love, to refresh them in body & spirit
True or False: The mission and vision statement are the same concepts.
False
What is the strategic direction of an organisation?
Should be unique and reflect its culture
What is the significance of values in an organisation?
Values create the culture of the organisation and reflect how people act and interact
Fill in the blank: A vision statement is a _____ that drives the organisation.
long-range idea
What happens to a vision statement once it has been achieved?
It loses its power and has to be redeveloped
What is an example of strategic intent from Canon?
To beat Xerox
What is an example of strategic intent from Komatsu?
To encircle Caterpillar
What does the mission statement of Tesla emphasize?
To accelerate the world’s transition to sustainable energy
What is the guiding mission of the Shoprite Group of Companies?
To be the consumers’ preferred shopping destination, by retailing food and non-food products at the lowest prices
What are the components of a mission statement?
- Product/Service, market and technology
- Survival, growth and profitability
- Philosophy of the organisation
- Public image
- Self-concept of the organisation
- Customers and quality
