Stragetic Management Essay -- Business and Management Studies

Stragetic Management 1. Introductiom --------------- USQ MGT8039 Strategic Leadership S2, 2005 Study Book (p 1.11), sighted that Hoskisson, Hitt and Ireland (2004, p.37) defined strategic leadership as â€Å"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 -------------------- 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 â€Å"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 ... ...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 â€Å"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†¦Ã¢â‚¬  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. Stragetic Management Essay -- Business and Management Studies Stragetic Management 1. Introductiom --------------- USQ MGT8039 Strategic Leadership S2, 2005 Study Book (p 1.11), sighted that Hoskisson, Hitt and Ireland (2004, p.37) defined strategic leadership as â€Å"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 -------------------- 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 â€Å"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 ... ...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 â€Å"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†¦Ã¢â‚¬  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.