MANAGEMENT

ASSIGNMENT

UNIT 1: DEVELOPING STRATEGIC MANAGEMENT AND LEADERSHIP

SKILLS

Table of Contents

LO1.12

LO1.22

LO1.32

LO2.13

LO2.24

LO3.14

LO3.24

LO4.15

LO4.25

References7

UNIT 1: DEVELOPING STRATEGIC MANAGEMENT AND LEADERSHIP

SKILLS

LO1.1

There is a clear link among strategic management and leadership that can be understood through the management techniques used by the effective leaders. Leaders are those individuals, who have mastered themselves in the field of management and have complete grip over it. Strategic management helps the leaders in developing quality leadership strategies, as the leader is well aware of his or her followers' needs and wants. Strategic management is a dignified process that is used for developing, implementing and following a compact strategy that can lead towards the final outcomes. The leaders can use the strategies that are provided by strategic management and can use it for improving the leadership. In today's world, effective leadership cannot exist without strategic management.

There is a sound and fine relationship among leadership and strategic management. Without sound understanding of strategic management an individual cannot fulfill the requirements of leadership. Leadership can be attained through good grip over strategic management as it keeps the leaders informing about what comes next and how it should be managed (Markides, 1999, p.63).

LO1.2

There is a great impact of leadership styles and management on strategic decisions. Leaders cannot make strategic decisions. If the leaders are not able to understand the importance of management and mainly strategic management, they would certainly not be able to make strategic decisions. Management is based on five basic functions given by Henri Fayol those are; planning, organizing, coordinating, commanding and controlling. Leaders cannot manage resources without properly managing all the functions of management. Management is related to managing current activities and end results of other activities. It is declared by most of the researchers that leadership without effective management cannot exist at all, as it is the most important ingredient of leadership (Woods, 2010, p.36).

LO1.3

The selection of leadership style is critical to its success. Every situation demands different leadership style, as without effective leadership style situations cannot be handled in an effective way. Organisations need to identify the traits required to lead the company into the future. Through assessing and developing the leadership behaviours used by its employees, companies can identify gaps in performance and fill them with training and development programs that cultivate the attitudes, actions and passion necessary for successful leadership. Developing leadership skills allows leaders to adapt techniques to work in new situations and better prepares them to handle the complex challenges faced by today's executives (Mulcaster, 2009, p.75).

Transactional Leadership, Autocratic Leadership, Democratic Leadership and Transformational Leadership are some of the most commonly used leadership styles in organisations. Transactional leadership style is followed in those situations in which we want our followers to work according to mutually agreed tasks and duties. An intense form of transactional leadership is autocratic leadership in which the followers are not even supposed to suggest any thing as they have to completely follow the orders of the leaders. In democratic leadership the followers are required to follow the ...