Developing Strategic Management and Leadership Skills

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Introduction In this paper we will discuss how to develop strategic management and leadership skills. It involves four basic steps which we are discussed in detail under this study. Different cases of different organizations are mentioned and studied under this paper including Martin McColl, Apple, Microsoft, Mc Donald’s and Lincoln Electric. Relationship between leadership and strategic management For this you need to first explain the relationship between these two terms. In the second step, you analyze how the management and leadership styles would impact on strategic decisions and then you discuss the adaption of leadership styles in many situations. Link between strategic management and leadership Strategic management includes resources of a firm such as human, material, financial, organizational to achieve their fundamental goals in an effective way. Whereas leadership is a method of organizing, managing and directing and controlling the workers in a firm to influence them to work in order to pursue the goals and mission of a company. These two terms can be interchanged in Strategic Management. Managing strategic activities requires effective leadership. The leaders are assigned with the responsibility of setting goals and making decisions for the company. Impact of leadership styles and management on strategic decisions Understanding, finding and developing leadership is one of the main concerns of an organization. Leadership plays an important role in forming highly dedicated teams. Because of the change in the nature of organization and the complexity in environment, leaders are now facing many difficulties and challenges than before. Currently, the world does not only demand competitiveness and consistent profitabilit... ... middle of paper ... ...f methods used for developing leadership skills Lincoln Electric introduced management trainee programs and involved its workers more at strategic level. The training was given under the supervision of effective leaders of the organization. Because of these methods Lincoln Electric cope up with different situation and challenges and became a successful organization. Conclusion In this paper, relationship between leadership and strategic management was discussed and studied with an example of Martin McColl. In the second part, management and leadership theories were applied and analyzed by giving examples of Bill Gates and Steve Job. The last part of the paper suggested some strategies to Lincoln Electric in order to develop leadership skills. Through this study we can conclude that leadership plays a vital role in an organization’s success and strategic management.
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