Week 1 Key Concept Exercises Essays

Submitted By chewvlic
Words: 515
Pages: 3

Business strategy is a choice of how the leaders will take the challenges and identifies the opportunities to fulfill the customers’ needs and requirements, and strive to surpass their competitor. In this quick demand changing external environment, it is important for the leader to consider and formulate a strategy that is clear and compelling. The strategy has to be constantly fine-tuned in response to market conditions. SWOT and PEST analysis can be helpful to assist the leader in formulating an appropriate strategy. A strategy can manifest themselves in many ways, autocratic style; this autocratic style strategy is where the employers giving order to the employee about what their employees need to do as well as how to do it without asking for the employees’ advice and opinions. This strategy is useful when the leader has more knowledge and information to deal with the problem (however, this is the rare case), or when the time allow to asking for opinion and solution is running short. Strategic leadership as vision; this is where the leader create the vision to guide the path and direction of the organization. Strategic leadership as the embodiment of strategy; these leader acts as the organization figure-head without setting any goal, objectives or direction. Technically, this is not a leadership, however, the figure head can still be consider as a leader, for example, the “Agong” (King) of Malaysia is still viewed as a leader even though they provides no guidance and leadership function. Strategic leadership as decision making; these leader believe in people, they increase participation, support, share information. The leader weighs the opinions from others, and makes decision in the investment or resource allocation. There are four ways of looking at strategy issues differently and raise new issues and solution: design lens, experience lens, variety / idea lens, and discourse lens. Strategy as design lens is the view that strategy formulation is deliberate positioning through rational, analytic, structured and directive process. This approach is high on…