MGT 550 Leadership Strategies: Explain What is Strategic Thinking?

1.

Hughes, Beatty and Dinwoodie (2014) stated in an occasion “Strategic thinking involves the cognitive and social processes that lead to a shared understanding of the complex relationship between the organization and its environment. It also involves using that understanding to set the direction for the organization’s future.” After making an in-depth environmental analysis along with business status it is evaluated that organizations need to make proper business strategies in order to meet customers’ needs and demand (Richard & David, 2014). As per the opinion of numerous eminent scholars, the overarching term strategic thinking signifies the process based on which the business experts review business policies and strategies for meeting current market demand (Church & Silzer, 2014). In order to run the business process the strategic thinking skills that are identified within me include:

Provide valuable decisions in different perspectives:

As a business manager I have observed that one single decision taken by me keep immense value in rendering business profitability and goodwill. In order to overcome various hurdles creating at the workplace managers have to take decision intellectually so that employees do not get affected in providing effective services (Ketchen & Short, 2015). On the other hand, the business manager should have the capability of changing their decision as per current market trend.

Incorporate both logic and emotional intelligence within business:

Business managers should be logical and strategic in order to reach the peak of success. At the same time, they cannot avoid emotional and sympathetic outlook towards the stakeholders (Dragoni et al., 2014). For an example, employees face immense challenges at the workplace regarding their culture and language barrier. I as an efficient manager have never treated those employees with negligence. I have maintained non-verbal communication with those persons who are not comfortable in maintaining verbal communication. In addition, in case of any kind of assistance employees get systematic approach on behalf of me so that they do not get motivated in providing quality services (Stetler et al., 2014).

Adapt new market trends and render innovation:

Business managers should have the strategic skill of adapting new market trends and reviewing business policy by following that trend (Morse, 2014). Rending business innovation is always necessary for maintaining sustainability (Hubbard, Rice & Galvin, 2014). As a result, I have decided to change strategy within organization as per the demand of different situations. As a result, both the employers and the employees would get equal benefits.

What are the weakest strategic thinking skills?

While evaluating my weakest strategic thinking skill I can ensure that I take time in taking right decision at the time of sudden crisis raised at the workplace. For an example, in case of any technological barrier the entire flow of business loses its rhythmic flow. In this kind of situation, I as an efficient business manager need to take an immediate step to control customers as well as internal stakeholders. However, these kinds of crucial time are very tough for me to handle by taking appropriate strategic decision. I need to gain more confidence and experience for overcoming this kind of situation.

2.

The major challenges that I have faced in today’s VUCA world while leading a team includes managing internal stakeholders, making the employees accustomed with changed leadership environment, developing managerial effectiveness, motivating employees towards business services. However, before navigating the leadership challenges I have identified those four key challenges of leadership. While managing internal stakeholders I have faced communication barrier as well as psychological barriers as the employees are from various cultural religious and psychological backgrounds and attitudes. In order to navigate this barrier I have received a training and development session based on which my communication skill is developed. As a result, employees facing problem at the workplace can easily come to me for resolving the issue. I as a leadership would be successfully able to provide good solutions.

It has often been observed that business experts have to change leadership style at the workplace as per demand of situation (Bolden, 2016). It is often been observed that leaders in order to handle sudden business crisis have to implement autocratic leadership style. At that time leaders do not get time of sharing their views with the employees. However, this situation is very challenging for me in imposing my own decision on employees without making proper communication with them (Men, 2014). However, in quest of overcoming this kind of situation, I have decided to communicate with the internal stakeholders proper by showing the fact why organization has to change leadership style. Transparency between the employees and leaders can resolve many issues.   

In order to navigate the challenge of developing managerial effectiveness I have decided to enhance my decision making skill, time management skill, technological competency and managerial skill. As a result, employees would not have to face challenges in resolving issues at the workplace (Haines, 2016). In addition in order to motivate the employees towards effective business services business leader can render different appreciation policies such as reward and recognition policy, social recognition policy and so on.

Consider how you leverage polarity, lead change, span boundaries, and lead culture.

It is undeniable that a responsible business manager has to know the tactics of leveraging polarities and organizational culture properly (Higgs & Dulewicz, 2016). As already mentioned a business organization is constituted with the people of various cultural backgrounds. In this kind of situation, people have to face difficulties in taking any accumulated business strategy due to psychological barrie (Morse, 2014)r. However, in order to control various polarities at the workplace I as a manager have decided to establish a proper organizational culture and polarity. Every single employee has to follow these polarities and cultures for surviving at the workplace.    

3.

The two consecutive terms strategic thinking and strategic acting are inseparably related to each. Based on the business situations and its stability the business managers have to initiate some of the major actions which are otherwise named as strategic acting (Canals, 2014). If I can share my personal experience I have been very much effective in acting strategically at my own workplace. In quest of expanding my brand and gaining international image and reputation I have enhanced product diversification and market penetration. As a result, the product has reached in the global market. Customers from various psychological backgrounds tend to show their interest in purchasing products (Freeman, 2016).

Moreover, I have divided the team members in such a way that the employees from diverse culture and attitudes are associated with a particular team. As a result, employees while performing get the scope of sharing their views and thoughts. While delivering production the employees can get the opportunity of collective decision making (Church & Silzer, 2014). Naturally, the quality of work becomes superior that reflect on customers’ behaviour and satisfaction rate. It is already stated that in case of any technological challenges the entire flow of business loses its rhythmic flow (Freeman, 2016). In this kind of situation, I as an efficient business manager need to take an immediate step to control customers as well as internal stakeholders.  Thus, in case of any kind of technological barrier I have instructed the IT experts for making backup storage ready. As a result, due to technological barriers the entire process of business would not have to be stopped. Business organizations can maintain its systematic flow and deliver the services to its customers for maintaining business sustainability. Canals (2014) opined that every strategy formed at the workplace for performance improvement of an organization cannot be considered as acting strategy. Strategies which can make a difference in organizational profitability are considered as acting strategy (Strand, 2014).

What were the key factors that you considered in making the strategic decision?

In order to make proper strategic decision the key factors that I need to consider are as follows:

• Indentifying the issue:

Before making the strategy I need to identify the problem properly due to which effective strategy or decision needs to make.

• Evaluation of that issue:

After identifying the problem raised at the workplace I need to evaluate the issue from various perspectives in order to highlight its different pros and cons. If the business issue is related to operation process and product I need to take immediate strategy for regaining the trust of customers. On the other hand, it the business issue is related to internal stakeholder, I should deal with the issue with proper care ad sympathy.

• Strategic decision:

After evaluation I have to take appropriate strategic decision on how to resolve the issue. In order to make new business strategy I focus on involving team members as well for getting their personal opinion. As a result, collective decision can be made.

• Expected outcome of strategic decision

Only strategic decision making is not the ultimate factor (Cameron et al., 2014). I need to predict its expected outcome as well. If it is predicted that the decision that I have made is not up to the mark and it would fail to meet long term goal, the business profitability level is highly affected. Therefore, I need to make such strategic decision that is expected to have positive outcome in future.

4.

Positive strategy always encourages the employees towards meeting the business goal (Church & Silzer, 2014). While making situational leadership style at the workplace, employees showed their negative attitude in performing well (Ketchen & Short, 2015). However, in order to navigate the situation I have decided to manage the situation with the help of proper communication. After communicating with the student individually employees showed their positive outlook and gave their best performances.

Like the same way, I had a poor communication skill at the initial journey. At that time employees hesitated in sharing their problems and difficulties. Naturally, they started to show their casual performance approach towards the services. In order to overcome this kind of situation, I have decided to take proper training session for enhancing my communication skill. Effective communication skill has left a positive impact on the overall attitude of the employees (Cameron et al., 2014). Their productivity increased and finally organization became successful in meeting business goals and objectives (Hubbard, Rice & Galvin, 2014). Appropriate strategy helps the organization in rendering the success of business. On the other hand, poor decision making affects the organization in achieving the peak of success (Dartey-Baah, 2015). Therefore, in order to run the business organization successfully and meet organizational goal and sustainability executives need to focus on effective strategic decision to overcome all barriers and challenges (Bolden, 2016).  

Servant/values-based leaders

Value based leadership approach primarily aims to motivate the employees by giving either emotional support or monitory benefit (Morse, 2014). The success of a business organization is entirely dependent on employee performance (Men, 2014). Therefore, organization would never be able to get benefits and profit if the employees fail to deliver their best endeavour. Value based leadership helps me to identify the ways on how to motivate employees towards services (Haines, 2016). In my organization I have started to follow flexible work hour with the help of which employees can enter the office at their flexible time. As per monthly report of performance evaluation the best performers can get attractive gift voucher as an appreciation. As a result, they get motivated automatically in maintaining good performance level (Higgs & Dulewicz, 2016). On the other hand, value based leadership approach provides financial benefits to the employees as well. As a result, employees tend to provide their superior quality of services.  

References:

Bolden, R. (2016). Leadership, management and organisational development. In Gower handbook of leadership and management development (pp. 143-158). Routledge.

Cameron, K. S., Quinn, R. E., DeGraff, J., & Thakor, A. V. (2014). Competing values leadership. Edward Elgar Publishing.

Canals, J. (2014). Global leadership development, strategic alignment and CEOs commitment. Journal of Management Development, 33(5), 487-502.

Church, A. H., & Silzer, R. (2014). Going behind the corporate curtain with a blueprint for leadership potential. People & Strategy, 36(4), 50-58.

Dartey-Baah, K. (2015). Resilient leadership: A transformational-transactional leadership mix. Journal of Global Responsibility, 6(1), 99-112.

Dragoni, L., Oh, I. S., Tesluk, P. E., Moore, O. A., VanKatwyk, P., & Hazucha, J. (2014). Developing leaders’ strategic thinking through global work experience: The moderating role of cultural distance. Journal of Applied Psychology, 99(5), 867.

Freeman, R. E. (2016). Ethical leadership and creating value for stakeholders. In Business ethics: New challenges for business schools and corporate leaders (pp. 94-109). Routledge.

Haines, S. (2016). The systems thinking approach to strategic planning and management. CRC Press.

Higgs, M., & Dulewicz, V. (2016). Developments in leadership thinking. In Leading with Emotional Intelligence (pp. 75-103). Palgrave Macmillan, Cham.

Hubbard, G., Rice, J., & Galvin, P. (2014). Strategic managment: Thinking, analysis, action. Pearson.

Ketchen, D., & Short, J. (2015). Mastering strategic management. University of Minnesota Libraries Publishing.

Men, L. R. (2014). Strategic internal communication: Transformational leadership, communication channels, and employee satisfaction. Management Communication Quarterly, 28(2), 264-284.

Morse, R. S. (2014). Developing public leaders in an age of collaborative governance. In Innovations in public leadership development (pp. 91-112). Routledge.

Richard, L. & David, L. (2014). Becoming a strategic leader. (2nd ed.). Sans Fnacisco: Published by Jossey-Bass A Wiley Imprint. pp. 94104-4594. Available from file:///C:/Users/LAPTOP_PS0073/Downloads/2560662_266401444_BecomingaStrategicLeaderYourRo%20(5).pdf.

Stetler, C. B., Ritchie, J. A., Rycroft?Malone, J., & Charns, M. P. (2014). Leadership for evidence?based practice: strategic and functional behaviors for institutionalizing EBP. Worldviews on Evidence?Based Nursing, 11(4), 219-226.

Strand, R. (2014). Strategic leadership of corporate sustainability. Journal of Business Ethics, 123(4), 687-706.