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The Ministry of Education and Science of the Russian FederationRussian University of Economics
of Foreign Languages №1 «Relationship between strategic management and leadership» Performed byShamilDepartment№ 1420 2015
Contents Introduction
Chapter 1.
.1 The link between strategic management and leadership
.2 The impact of management and leadership styles on strategic decisions in “H&M”
Summary 2
.1 The impact that selected theories of management and leadership have on organisational strategy
.2 Creating a leadership strategy that supports organizational direction 3
.1 Appropriate methods to review current leadership requirements
.2 Plan for the development of future situations requiring leadershipIntroduction
management as a term and concept is not new. The term was first used in the 1970s, and it meant that a staff of strategic planners more or less thought up strategic programs and then tried to sell them to decision makers. In the 1990s, the view of strategic planning and strategic management is much different. Goodstein, Nolan, and Pfeiffer’s definition of strategic planning takes us away from the notion that strategic planning is a staff job and focuses us more on a process that requires the senior leaders of an organization to set its strategic direction. It is defined as the process by which the guiding members of an organization envision its future and develop the necessary procedures and operations to achieve that future (Goodstein, Nolan, and Pfeiffer, 1992)consists of the analysis, decisions, and actions an organization undertakes in order to create and sustain competitive advantages. This definition captures two main elements that go to the heart of the field of strategic management. First, the strategic management of an organization entails three ongoing processes: analysis, decisions, and actions. That is, strategic management is concerned with the analysis of strategic goals (vision, mission, and strategic objectives) along with the analysis of the internal and external environment of the organization. Next, leaders must make strategic decisions. These decisions, broadly speaking, address two basic questions: What industries should we compete in? How should we compete in those industries? These questions also often involve an organization’s domestic as well as its international operations. And last are the actions that must be taken. Decisions are of little use, of course, unless they are acted on. Firms must take the necessary actions to implement their strategies. This requires leaders to allocate the necessary resources and to design the organization to bring the intended strategies to reality. As we will see in the next section, this is an ongoing, evolving process that requires a great deal of interaction among these three processes. Second, the essence of strategic management is the study of why some firms outperform others. Thus, managers need to determine how a firm is to compete so that it can obtain advantages that are sustainable over a lengthy period of time. That means focusing on two fundamental questions: How should we compete in order to create competitive advantages in the marketplace? For example, managers need to determine if the firm should position itself as the low-cost producer, or develop products and services that are unique which will enable the firm to charge premium prices-or some combination of both. Strategic leadership: Strategic leadership “refers to a manager’s potential to express a strategic vision for the organization, or a part of the organization, and to motivate and persuade others to acquire that vision”. It’s a leader’s point of view, for making a strategy so that all the aims and objectives of the organization can meet and it helps in achieving success for the organization Chapter 1 .1 The link between strategic management and leadership
leadership is the bridge between strategic management and their target. It’s because of a leadership that organization gets their desired tasks and targets.is responsible for people and resources in a unit according to rules or values that have already been set while the leadership set a direction to the people in group.leadership and effective management are always the key of success in any organization so both of these are the skills which going side by side without management a good leadership can only satisfy for the time being not in a long term same as an effective management is nothing without the good leadership.great leadership is jointed with effective management, you are able to set a direction and be able to allocate the resources the way you want. Not only that, you will achieve your goal the way you have thought and the way you want to achieve.: In 1970 Iceland sprang to life when Malcolm Walker and another bored, young retailer decided to open a shop in an attempt to make their fortunes. They raised initial capital of just £60 to pay one month’s rent and opened the very first Iceland in Oswestry, Shropshire in November 1970. In those days, before domestic fridges and freezers became commonplace, Iceland specialized in selling loose frozen food. 1984 Expanding through new store openings and the acquisition of smaller chains, Iceland had 81 stores by 1984. 2010 Iceland again achieved record results for its financial year to March 2010. (Source: www.iceland.co.uk)first the Iceland company start with loose frozen food in a local area, they satisfy their customer, in these present situation the ICELAND use the way to lead their employee, that is their vision and they success. In addition the leader will lead the employees through strategy. Without strategy the leader cannot lead, cannot make their profit. The leader lead their employees how they use their process to lead their employees, these is strategy to reach their goal.mission is the short,
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