Stragetic Management

Stragetic Management

1. Introductiom

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USQ MGT8039 Strategic Leadership S2, 2005 Study Book (p 1.11), sighted

that Hoskisson, Hitt and Ireland (2004, p.37) defined strategic

leadership as “the ability to anticipate, envision, maintain

flexibility and empower others to create strategic change as

necessary… managing through others, managing an entire enterprise

rather that a functional subunit”.

2. Critical Analysis

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Strategic management can be described as a process undertaken by

top-level management. Thomson el all (2002, pp. 3-15)) elaborate that

strategic management is process about defining the purpose of existent

of an organization, formulating a long term strategy to fit the

organization’s external and internal situation, build sustainable

advantage and improve organization performance. In contrast, strategic

leadership is a function that drives the strategic management process

in the organization. In view of this, the author would like to adopt a

stand that strategic leadership is different from strategic management

but both intertwined and co-exist to compliment each other. Strategic

management will not exist without strategic leadership.

The scope of top level management in this respect shall encompasses

the Board of Directors, CEO and top management and the strategic

leadership which, they exercise would be in-conjunction or

individually.

Emergence of globalization whilst giving new opportunities for

organization to new markets, also exposes organization to new

challenges for competitions and rapid changes of competitive

environment. The strategic management undertaken by organization to

address these challenges required strategic leadership to drive the

task of crafting and executing the organization strategy. According to

Richardson (1994), modern strategic management needs to be met by a

multi-skilled strategic leadership response and not adopt a stand of

“this by and large, is the only way to do strategic leadership”.

Nicholls (1994) proposed that in order to counter the fast-changing

business environment, organization through the role strategic

leadership must adopt the fundamental changes in the way they think

and behave with respect to both people and customers. In the process

of strategic management, decisions making would have to take place to

determine ...

... middle of paper ...

...e, Trends

Source: http://www.autoblog.com/entry/6449113922489878/

Despite raking in $10 billion in earnings last year and looking like

it will surpass that mark this year, Toyota is not happy. Chairman

Fujio Cho lambasted his own company last week, saying “The sense of

crisis we feel, despite increasing sales and profits, stems from our

fear that we have no kept up. Particularly fears that we have not kept

up with environmental issues…” Ok, Fujio, I know it’s noble to be hard

on yourself, as that’s how Toyota got to this point in the first

place, but what about the unbridled success of the Prius and the

manifold hybrid concepts like the Volta and Lexus’ pending RX hybrid

SUV? It’s still not even close to enough, apparently, as Chairman Cho

revealed plans to get 300,000 hybrids on tarmac by the end of next

year. But, wait, this isn’t really about environmentally-responsible

transport, is it? No, I didn’t think so: Toyota has long been forced

to compete only with itself as far as quality and reliability were

concerned; this year, however, the untarnishable reputation pitted

slightly around the edges as Hyundai passed Toyota in J.D. Power’s

Initial Quality Study.