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An organization's strategy is its

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Overall concept of how it will achieve its objectives

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A major purpose of strategic leadership is to

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Provide direction and inspiration in an organization

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When a company is founded, a major strategic tasks of the founder is to

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Define the purpose of the organization

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In relation to an organization, systems thinking refers to

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Understanding how the organization interacts with the environment.

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What are 3 characteristics of strategic leadership

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1. High-level cognitive ability on the part of the leader 2. Anticipating and creating a future 3. Revolutionary thinking

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The recommended approach for strategy formulation by the leader is for him or her to

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Involve large numbers of people

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A major aspect of direction setting by the leader is to

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Anticipate and create a future for the firm

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Imagine yourself as the CEO of a large business firm whose sales are declining rapidly. A superior act of strategic leadership would be for you to

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Give the company a new strategic direction

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An important characteristic of revolutionary and contrarian thinking is strategy is that the strategy

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Seriously challenges the status quo

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A carefully considered vision statement

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Helps us know who we are and who we are not

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The purpose of a SWOT analysis is to assess

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Strengths, weaknesses, opportunities, and threats

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The internal weaknesses in SWOT analysis refer to the

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Risks of pursuing a particular course of action

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A retailer targeting poor people is an example of the strategy called

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Focus

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A company with a strategy of high quality typically

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Combines quality with another strategy

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The first-mover strategy deals with

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Getting to the market first

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According to the strategy called the Hedgehog concept, a company succeeds by

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Becoming very good at one thing

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A company engages in the brand-leadership strategy when it

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Develops the reputation of its brand name

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To implement the strategy of competitive advantage through hiring talented people, the company's leadership should

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High talented, well-motivated people throughout the firm

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What are the 3 components of knowledge management?

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1. Knowledge creation 2. Knowledge dissemination 3. Knowledge application

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The most frequent activity in knowledge management is

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Knowledge dissemination

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To achieve best results, advanced technology for knowledge management should be

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Combined with an organization culture that values knowledge management

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A key part of knowledge management in organizations is

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The systematic sharing information

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A major responsibility of a chief knowledge officer is to

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Systematically collect information

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A major leadership initiative for enhancing a learning organization is to

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Create a strategic intent to learn

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Peter and his teammates engage in action learning when they

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Learn while attacking a significant organizational problem.

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Strategy

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An integrated, overall concept of how the firm will achieve its objectives.

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Strategic Leadership

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The process of creating or sustaining an organization by providing the right direction and inspiration. Emphasizes balancing the short-term and long-term needs of the organization to ensure the enduring success of the organization.

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Strategic Leadership has 5 Components:

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1. the high-level cognitive activity by the leader, 2. gathering multiple inputs to formulate strategy, 3. anticipating and creating a future, 4. revolutionary and contrarian thinking, and 5. creating a vision.

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High-Level Cognitive Activity:

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Thinking strategically requires high-level cognitive skills, such as the ability to think conceptually, absorb and make sense of multiple trends, and condense all of this information into a straightforward plan of action. The ability to process information and understand its consequences for the organization in its interaction with the environment is often referred to as systems thinking.

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Gathering Multiple Inputs to Formulate Strategy:

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Many strategic leaders arrive at their ideas for the organization's future by consulting with a wide range of interested parties, in a process similar to conducting research to create a vision.

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Anticipating and Creating a Future:

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A major component of leadership is direction setting, which involves anticipating and sometimes creating a future for the enterprise or organizational unit. To set a direction is also to tell the organization what it should be doing.

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Revolutionary and Contrarian Thinking

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Aspect of business strategy that insists that a key component of strategy is deliberately choosing to be different. Being different sometimes refers to having an expansive and elegant concept of the future of a business. Contrarian thinking is when the leader rejects conventional wisdom.

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Vison

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A carefully considered and articulated vision helps us know who we are and who we are not. The vision also points to what we do successfully and what we do not, which activities we should take on and which to avoid. In companies that believe in visions and strategic goals, all activities throughout the company are supposed to support the vision and goals.

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Leadership Effectiveness and Strategy Implementation

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Carefully crafting a strategy and vision is not sufficient for its effectiveness. The strategy and vision must also be implemented or executed by the leader/manager.

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Strategic Planning

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Those activities that lead to the statement of goals and objectives and the choice of strategy.

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SWOT Analysis

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A method of considering internal strengths, weaknesses, and external opportunities and threats in a given situation.

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Strategic leaders use many different types of business strategies, including the following:

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1. differentiation, 2. cost leadership, 3. focus or niche, 4. high quality, 5. imitation, 6. strategic alliances, 7. growth through acquisition, 8. high speed and first-mover strategy, 9. product and global diversification, 10. sticking to core competencies, 11. brand leadership, 12. focus on environmental sustainability, and 13. competitive advantage through hiring talented people.

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Knowledge management (KM)

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A concerted effort to improve how knowledge is created, delivered, and applied. When knowledge is managed effectively, information is shared as needed, whether it be printed, stored electronically, or rests in the brains of workers.

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Learning Organization

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An organization that is skilled at creating, acquiring, and transferring knowledge and at modifying behavior to reflect new knowledge and insights.

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Knowledge management has three components:

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Knowledge creation, Knowledge dissemination, Knowledge application

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Transformational vs. Transactional

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Transformational leaders tend toward encouraging exploratory innovation, whereas transactional leaders tend toward encouraging exploitative (increments in what already exists) innovation.

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What are the five components of strategic leadership?

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thinking at a cognitively high level; gathering multiple inputs from many sources; anticipating and creating a future; adopting a revolutionary or contrarian outlook; creating a vision

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What are the three levels of business strategies?

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corporate -- "what business are we in"; business -- "how do we compete"; functional -- "how do we support the business-level strategy

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______ is the concerted effort to improve how knowledge is created, delivered, and applied.

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knowledge management

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A _________ organization is skilled at creating, acquiring, and transferring knowledge - and - at modifying behavior to reflect new knowledge and insights.

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learning

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What are the three components of knowledge management?

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knowledge creation; knowledge dissemination; & knowledge application

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Strategic Leadership

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emphasizes balancing the short-term and long-term needs of the organization to ensure the enduring success of the organization. Strategic leadership is the process of providing the direction and inspiration necessary to create or sustain an organization.

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Characteristics of Strategic leadership: high level cognitive activity of the leader

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thinking strategically requires high-level cognitive skills, such as the ability to think conceptually, absorb and make sense of multiple trends, and condense all of this information into a straight forward plan of action.

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Characteristics of Strategic leadership: gathering multiple inputs to formulate strategy

answer

many strategic leaders arrive at their ideas for organization's future by consulting with a wide range of interested parties, in a process similar to conducting research to create a vision

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Characteristics of Strategic leadership: anticipating and creating a future

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a major component of leadership is direction setting, which involves anticipating and sometimes creating a future for the enterprise or organizational unit. a truly visionary leader anticipates a future that many people do not think will come to pass.

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Characteristics of Strategic leadership: revolutionary and contrarian thinking

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think strategic breakthroughs and radical innovations. a key component of strategy is deliberately choosing to be different.

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Characteristics of Strategic leadership: creating a vision

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create a shared vision that will motivate organizational leaders to perform well. all activities throughout the company are supposed to support the vision and goals.

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Leadership Effectiveness and Strategy Implementation

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part of being a leader is to implement a strategic initiative.

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Strategic planning:

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encompasses those activities that lead to the statement of goals and objectives and the choice of strategy.

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SWOT analysis

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represents an effort to examine the interaction between the particular characteristics of your organization or organizational unit and the external environment, or marketplace, in which you compete.

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Internal Strengths

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assessing factors within the organization that will have a positive impact on implementing the plan.

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Internal weaknesses

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looking at factors within the organization that could have a negative impact on the proposed plan.

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External opportunities

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assess socioeconomic, political, environmental, and demographic factors among others to estimate what benefits they may bring to the organization

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External threats

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assess what possible negative impact socio economic, political, environmental and demographic factors may have on the organization

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A sampling of business strategies formulated by leaders: differentiation

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a differentiation strategy seeks to offer a product or service that the customer perceives as being different from available alternatives.

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A sampling of business strategies formulated by leaders: cost leadership

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produce a product or service at low cost in order to lower the selling price and gain market share

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A sampling of business strategies formulated by leaders: focus or niche

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the organization concentrates on a specific regional market or buyer group.

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A sampling of business strategies formulated by leaders: high quality

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offer goods or services of higher quality than the competition does.

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A sampling of business strategies formulated by leaders: imitation

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Initiate the best. Wait for the right time to introduce a lower-priced competitor.

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A sampling of business strategies formulated by leaders: strategic alliances

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form alliances or share resources with other companies to exploit a market opportunity.

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A sampling of business strategies formulated by leaders: growth through acquisition

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a standard strategy for growth is for one company to purchase others. growth in size is important, but companies may also purchase other companies to acquire a new technology or complete a product line.

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A sampling of business strategies formulated by leaders: high speed and first-mover strategy

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get products to market quickly because the competition might get there first or might deliver a product or service more rapidly.

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A sampling of business strategies formulated by leaders: product and global diversification

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offer a variety of products and services to sell across borders to enhance market opportunities.

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A sampling of business strategies formulated by leaders: sticking to core competencies

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become very good at one thing in a world of companies that spread themselves into many areas where they lack depth. Do not stray form company mission and strategy.

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A sampling of business strategies formulated by leaders: brand leadership

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succeed through developing the reputation of a brand name

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A sampling of business strategies formulated by leaders: environment

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focus on environment sustainability and being green

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A sampling of business strategies formulated by leaders: competitive advantage through hiring talented people

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build the organization with talented, well-motivated people at every level

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Knowledge management and the learning organization

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knowledge management (KM) is a concerted effort to improve how knowledge is created, delivered, and applied. Managing knowledge helps create a learning organization.

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Learning organization

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one that is skilled at creating ,acquiring, and transferring knowledge and at modifying behavior to reflect new knowledge and insights.

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Knowledge management

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deals with a cultural focus on knowledge sharing. managing knowledge is an important leadership role because so few organizations make systematic use of the collective wisdom of employees

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Knowledge management has three components

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knowledge creation: spur innovation; knowledge dissemination: through IT where info is consolidated in one place so it is more assessable ; knowledge application: process of getting workers better at what they do. Works best in an organizational culture that values knowledge and encourages its dissemination

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Chief knowledge officers

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seek to disperse human skills, intuition, and wisdom throughout the firm and convert them into innovations

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Transformational leadership and learning

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transformational leadership behaviors contribute significantly to encouraging workers to pursue exploratory innovation. An exploratory innovation deals with finding new products, services, processes, or technology

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Transactional leadership and learning

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improves and extends existing knowledge and is associated with exploitative innovation or learning ways to make improvements in existing products, services, or processes.

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These components enhance a learning organization

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Supporting learning environment concrete learning processes and practices leadership that reinforces learning create a strategic intent to learn create a shared vision employees who are empowered to make decisions

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Systems thinking

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leader helps organization members regard the organization as a system in which everybody's work affects the activities of everybody else.

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Essential components of knowledge management

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team learning action learning learning from failure encouraging continuous experimentation political skills to make connects with and influence others

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strategy

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concept how the firm will achieve its objects

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strategic leadership

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Balance between short- long need, provide direction and inspiration top create or sustain an organization

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To think strategically

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-need of high level congerstive skills , think conceptually, absorb and make sense of multiple trends, use info into plan of action=system s thinking

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Long -term thinking

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Key part of strategy, leader first define purpose ( intuition)

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leader

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-problem-solving , imagination, conceptual process, To be able finder and develop alternative - be revolutionary -vision

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Formulate strategy

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Exp, meeting about new vision for company, keep current on company issue, benefit to build morale by contribution of workers to decisions, travel to other countries to see different in products

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Leadership component p. 416

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Direction setting, he must anticipate and forecast future, create condition that do not all ready exist ( product won't be used in the future), like Nike, Reebok, IPad , use 20-30% devote time to plan the future

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Reinvesting an industry

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New product, capturing another point of market, squeezing costs place= incrementalism

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Leadership effectiveness

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- to be able implement or execute a plan or vison

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Strategic planning

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-Lead to the statement of goals and objectives and the choice of strategy, -Often is strategic plan and then strategy- Intuition and judgment is more important

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SWOT analysis

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Method of considering internal strength and weakness ands external opportunities and threats in a particular situation

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Internal strength

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- what do you do well, assessing factors within organization have positive impact on implementing plan, analysis of external environment - use own judgment and knowledge people

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Internal weaknesses

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- what can be improve, what is done badly , what to avoid negative factor on propose plan

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External oportunities

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Assed socioeconomic, political; and democratic factor among others what benefit they can bring, look at new trends ,change technology, social pattern, lifestyle

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External threats

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Assed negative impact , EVERY alternative, thing ahead, do contingency plan What obstacle do you face, what is competition doing, specification for your job, product , is technology will help you

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Strategy formulated by leader

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-Differentiation -cost leadership, to produce with low cost -Focus or niche -focus=specific region market or buyer group, and find a niche( something special , extra, your product -high quality- than others -Imitation- with a lower price -strategic alliances= virtual corporation often uses high tech company, two company combine to have more opportunities with a product Microsoft/ Facebook - growth through acquisition- to buying other, or old companies helps finish a product - high speed, product get on market fast -product and global diversification- Having variety of products is good acquire many smaller brands, brand reputation, being green

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knowledge management(KM)

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learning organization helps create, how knowledge is delivered

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Have 3 components

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-knowledge creation to supra innovation - knowledge dissemination sharing info for potential users -knowlage application- getting workers better at what they do.

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Format of KM programs

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Take the form of computer based system collecting and organizing useful information, workers exgange ideas face to face

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Transformational organization learning

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encourage workers to pursue exploratory innovation

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Transactional leadership

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Improving and extending existing knowledge associated with exploitative innovation= change to existing product

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Exploratory innovation

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Find a new product ,service, technology

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Learning organization components: Supporting learning environment

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Employee don't have to afraid express their opining, different in opposing view, makes decisions

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Concrete learning processes and practices

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Discuss What went wrong or right with a recent program

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Leadership that reinforces learning

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Leader listen to employee dialogue and dabate

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