In this assignment it's going to be discussed about the strategic management and leadership. It will be analyzed and the relationship between the strategic management and leadership. The organization which will use to describe the link between strategic management and leadership is ACCOMMODATION TIMES and it will discuss about the impact of strategic management and leadership on the organization and how they work.
Management and leadership
Understanding the relationship between strategic management and leadership
Leadership involves the qualityÂ to lead whereas the strategic management involves the way the goals of the organisation are achieved. The leadership works towards the achievement and implementation of the strategic goals in a way that it moves ahead in a smooth manner. The strategies are been made by the leadership of the organisation. This involves the management and the way the targets of the organisation are been achieved with the strategies that are been laid down. The link between the strategic management and leadership are remotely related to each other , the way the leadership is working on the achieving the goals that are set is the work of the leadership of the organisation to deal with it. This involves the exact functioning of the organisation.
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According to Neil Ritson "Strategic management is the organised development of the resources of the functional areas which are financial , manufacturing , marketing , technological , manpower etc, in the pursuit of its objective it is the use of all the entity resources, It is a set of policies adopted by senior management, which guides the scope and direction of the entity. It takes into account the environment in which the company operates". (Neil Riston, 2008)
In Audrina words a leadership is as soon as you guide the organization into a result that your group assembly has agreed upon. You and the rest of the team have a demarcated understanding to conclude and determine the ability and to articulate ideas and goals. Leadership is said seen just as a facet of successful manager. It usually works on precedency for strategic planning and management and long term and long lasting success. (Audrina Majella, 2008)
Leadership is a skill which a person develop through the experience for example in Accommodation Times general assistant after having experience become the Genaral Manager they never appoint a Genral Manager straight away because leadership you learn through experience and strategic management through courses and trainings.
LINK BETWEEN STRATEGIC MANAGEMENT AND LEADERSHIP:
A leadership is the bridge between strategic management and their target .it's because of a leadership that organization gets their desired tasks and targets
Management is responsible for people and resources in a unit according to rules or values that have already been set while the leadership set a direction to the people in group.
It can understand the link between strategic management and leadership by this example that good leadership and effective management are always the of success in any organization so both of these are the skills which going side by side without management a good leadership can only satisfy for the time being not in a long term same as an effective management is nothing without the good leadership.
When great leadership is jointed with effective management, you are able to set a direction and be able to allocate the wealth or resources the way you need. Not merely that, you will achieve your goal the way you have thought and the way you want to achieve.
Analyse the impact of management and leadership styles on strategic decisions
The decisions made by the managementÂ are a unique way of implementing it, so the decisions that are made by the, management impact the organisation. So it is essential for the strategic decisions to be made perfect in a way that it works out for the organisation as a success. At times if the Leadership of the organisation fails to make a perfect decision in the perfect manner then the strategies are falling apart and the targets of the goals that are been set are not been achieved .So the leadership is the core thing that has to formalise the strategies in such a way that the impact of the decisions that are been made in a success. The leadership should make such strategies in such a manner that the organisations various departments re able to achieve and work on it with efficiency.
Always on Time
Marked to Standard
Evaluating how leadership styles can be adapted to different situations.
Origin of strategic management is based on :-
The traditional perspectives which involves theÂ Economic entity
The resource based view of the firm it'sÂ a collection of resources skills and abilities
The stake holder approachÂ a network of relationships among the firm and its stakeholders
Strategic Management is a is a process to establish priorities on what we have to achieve in the coming future for the organisation and the Leadership of the organisation is responsible for not only making it but implementing it to success
Strategic managementÂ forces us to make a choice on what has to be done and what is not to be done, whereas the leadership is the one which decides on the same.
Leadership helps to bring the entire organisation together for the achieving the targets. Whereas the strategic management helps to put the entire organisation in a single game plan so that they move ahead together in a same direction rather than helter - shelter situation. So this helps in the execution of the game plan effectively which will be done with the effective leadership qualities of the management of the organisation
We need to put down the guideline where the resources has to be allocated so that the allocated resources work out effectively in a success formula
Nature of strategic management involvesÂ Â
A global perspective for the survival of the businesses
One of the vital tools is an e-commerce
The other important thing in it is the natural environment, which deals basically with the strategic issue.
The nature of the leadership involves bringing the perspective to the
The 3 stage process of it involves
Formulation of strategy
Sm achives organisational success
My Organisation of findings is Accommodation Times
Accommodation Times was started by Mr. Murari Chaturvedi in the early eighties. It is the first real estate newspaper of India. The Idea behind this was a simple idea by the founder of this newspaper to start a fully dedicated newspaper for real estate in India. During this there were a lot of problems been faced by him, which saw Mr.Chaturrvedi to even give up his job of the prestigious Times of India Group Of newspaper. At present, Accommodation Times is one of the largest newspapers of Real estate newspaper in India. It covers various aspects of real estate, giving various dimensions to real estate in India. It is broadly been centralised from Mumbai but the subscription reaches all across the Indian State. It is been run by a very short but a dedicated staff involving the family members Mr. Murari Chaturvedi.It has been recognised by the former President of India Dr.Abdul Kalam for the work towards the Indian Real Estate Industry.
It is published every single forthnightly or say every two weeks. The existing executive editor is Dr. Sanjay Chaturvedi; the chief executive officer is Ajay Chaturvedi
The Goal of the Workers in the organisation is to bring about a proper knowledge of the Real estate to the uneducated Indian Real estate market. The organisation runs a series of development lectures and educates the industry people about the various factors that need to be looked into and learnt in the industry. There are various courses even been run by the organisation to teach the young guns of India about the vast scope and proper knowledge of Real Estate. The basic Idea of the Organisation if to make Industry recognition from the government of India and simultaneously highlightingÂ and educating the masses about the real estate industry.
The core focus of the organisation still remains on the News of the real estate but during the years the focus has been shifted fromÂ time to time. Listing education of the industry, proper way of the channelizing the objectives and the functioning of the real estate sector of the industry. The Objectives of the organisation now also involves education, strengthening of the realtors, clean and efficient news.
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The organisation is successfully implementing the strategies and the leadership is effectively working and polishing the complete team and is constantly working on the improvement of the organisation. The leadership has been constantly on the high standards. The leadership has been an example for the complete industry. The strategies which were been laid down during the inception of the Newspaper has been achieved succesfully.The leadership and the strategies laid down have worked efficiently and worked together in tandem. The skills that the leadership has brought about the success
2.1 Management and leadership theories in the organization
Accommodation Times Management & Leadership Concepts in the organisation:-
In accommodation Times the Management and the leadership is focusing on the continueos expansion of the newspaper through the various means of the channel of the advertisemenst and anlso by improving the better standard of the the news that is imparted to the people or say the reader of the newspaper.
The core focus of the management and the leadership is to focus on a time and time again on the spread of the knowhow of the real estate and giving more knowhow to the common man , so that there are more and more number of people that are in the habit of reading of the newspaper . The increase in the base of the readership only gives a brand value but the core finances that are being brought to the Newspaper are through the channel of the advertisements. As the advertisements cover the cost of the printing and even get the maximum profit to the newspaper.
So following this strategy the newspaper has a core team which is designed under the leadership of the CEO Mr. Ajay Chaturvedi so that the hurdles are cleared very easily for the team. In this way the team gets a direct support of the higher management for their assistance so that whenever they look out for an answer or a help they get it through the Higher Management in the form of the CEO Mr. Ajay Chaturvedi.
The Editorial team is focusing on bringing on those issues to light that are of a unique important to the common man who is reading the newspaper And on the other hand the Editor in chief is focusing on maintaining the dignity and maintaining the values of the organisation , so that never any values are being compromised for the sake of any monetary gains and any of the ethics that the newspaper has been following since the last 3 decades , that should not be compromised that is the main focus of the Editor in chief.
In this was the organisation is having its concepts clear to each and every department and that brings about to the very good balance between the work of the Management & the leadership theory of the organisation
Most common theories used in the organization
The three theories that are followed are:-
Transformational leadership is a leadership approach that is defined as leadership that creates valuable and positive change in the organisation. Transformational leadership is a type ofÂ leadership styleÂ that pointers to positive changes in the individuals who follow. Transformational leaders are by and large energetic, wholehearted and passionate. Not merely are these leaders concerned and tangled in the process; they are also focused on helping every affiliate of the group prosper as well.
(About .com phycology)
In the organisation Accommodation Times the leadership plays a very vital role in the changes that the newspaper adopts and has seen over the last few decades since the the inception of the newspaper. The higher management has a good amount of the influence on the way to the others who are working in the organisation. So we can see such kind of leadership in the organisation
The Charismatic type of Leader gathers supporters through indent of personality and charm, rather than any system of external influence or authority.
Charismatic leadership is leadership founded on the leader's aptitude to communicate and behave in ways that reach supporters on a basic, emotional approach, to inspire and encourage. We often speak of some sports and political leaders as fascinating (or not) -- an example being John F. Kennedy.
In accommodation Times the leaders or say the higher Management are very charismatic in the way they get or approach to the lower management or even to their clients as well, so when it is looked in that the way the finances re been brought in the form of the advertisement are totally based on the charisma of the higher management and the leaders, if said to be precise.
Emotional intelligence is the aptitude, volume,Â skill. A kind of self-perceived ability to identify, gauge or consider, and controls the emotions of oneself, of others, and of groups. Different prototypes have been recommended as well as suggested for the definition of Emotional intelligence and there is the dissimilarity about how the term should be used. Despite these few of the disagreements, which are frequently highly technical, the ability and peculiarity prototypes (but not the mixed models) enjoy support in the literature and have successful applications
The organisation accommodation times also have a very subtle but effective approach on this theory as they have been involved in that true reporting and have been efficiently involved in the spread of the know how about the industry and the standards of the industry that are existing that they give to the common people to read and get aware about.in this way it is very evident that leadership Is following the emotional path or approach very subtle as they never succumb under the pressure of the newspaper advertises.
2.2 Leadership Strategy for sustenance of the Organisational guidelines:-
There are very simple but effective approach that the organisation is following and the way it is been handled in the last few decades speaks for itself. The organisation follows the concept of spreading the knowhow to the common man in the city and the country, that what is the real estate and how it is effecting and how it is functioning in the country and the city.
The organisational also follows the approach of true reporting and follows the guidelines to implement it so that it is never been compromised over in the functioning of the newspaper. The team works on the guidelines that are been laid down by the Editor in Chief since the inception of the newspaper.
The organisation is having a very good and open theory when it comes to approaching the different in the organisation. The CEO even function with the lower level of the management and even the lower level of the management has an environment in which they can approach to the various different departments in the organisation. SO at any time when anyone who is requiring any assistance then they get it directly. This maintains the way of working in a very efficient manner, as there is assistance for each and every one in the organisation whenever it is required and necessary.
Team Leader & Behaviour Approach in Accommodation Times:-
The team leader of the organisation are very efficient and able to lead and represent the team and the industry as well, so there is a sense of relax environment in the organisation that whenever there is a assistance or the way the work is functioning in the organisation. So the way in which the behaviour approach in the organisation goes about to read it is very obvious that the team leaders in the organisation is going about to the way of their work or the guidelines that the various are following.Comapritavely it is very good leading environment in the organisation.
Management Role & Transactional Theory in Accommodation Times:-
The role of the management in the Accommodation times is a very vital role been played in the organisation so that the smooth functioning of the newspaper is being carried on from time to time. The management plays a very vital role in pushing the lower level of the organisation for the work in the office. Also the Management pushes the financial generating in the organisation so that the newspaper is going on the path of success from time to time.
3.1 current leadership requirements
Overview Current leadership requirements in Accommodation Times:-
The organisation is focusing on spreading its wings and the subscription on the overseas market so that they can get a very good amount of the overseas advertises as well. As the patronage leadership is and has been focusing on the city and maximum to the country only and this has the middle level management, as the middle level is all set to expand its wings to the international level. The middle or to say the newer generation has a few different guideline that are to be followed in the expansion of the newspaper to the overseas market ,as there has to be certain values and the ethics that has to be compromised. So the editor and the editor in chief are very adamant to follow the change and the expansion with the compromising of the ethics and the values. So the team which is working on the expansion.
Generic challenges are the challenges that the organisation is facing in the generic way, to learn this out we have to study the whole way of functioning of the organisation or say various types of challenges that arise.
Few examples that can be told are like:-
1) A perfect Competition
2). A defined Quality
3). Abosoulte Innovation
4). Retaining the competent resources
6). Reducing of the cost
7). Systemof improvement
8). Increase in the sales,as well as productivity
9). Complete Customer Satisfaction
10).Also Value addition
11).Adapting to the changes
A Virtual Organisation (VO) is a dynamicand a vigorous pool of dispersed resources shared in a trusted way by a dynamic set of users be in the right place to one or more organizations. Â In which major processes are outsourced to partners. Best it can be defined is a company is one whose members are geographically apart, usually working by computerÂ e-mailÂ and groupwareÂ while appearing to others to be a single, unified organization with a real physical location.
Examples of few of the virtual organisation are
These are a few of the virtual organisation that are existing in the present times and are very famous as well. This type of organisation has given a very diverse effect in the current global environment.
Multiplicity as a distinguishing of the establishment goes further: one is only pleased when not only the records are right, even but also when the aptitudes of everyone , input and assets are used, as a consequence of which the appropriate organisation can serve a broader group of customers and become a interesting workplace for all employees.
There is a condition of conventional people and outsiders (as far as this establishment is concerned) the prevailing or very obvious will be the norm ('this how the way we do it here') and the smaller is often described in the deleterious terms as a nonconformity from the significant, so forcing the smaller party often to authenticate that his or her way of working is possibly different but need not essentially be worse.
Variations in culture often bring the manifest of themselves in the way in which people deal with directions, arrangements, clashes and leadership; all the characteristics upon which impact the upon how smoothly a multi-ethnic organisation runs. Apart from cultural differencesÂ as such there are dimensions which are related to a class upbringing, or the sex of course, which is also bringing a impact upon how the people experience the communication between them.
Everyone hasÂ different characteristics:- A sexual distinctiveness (man/woman), an traditional identity (black or say white or say immigrant) but also for illustration a job individuality. At which moment is one being talked or even addressed in which identity and primary who determines this.
The motives for promoting diversity are pretty apparent: to contribute to a fair-minded society, expand the quality of staff by reaching unexploited pools of talent and to increase the consumer assurance or the confidence of the consumer in a workforce that reflects the consumers that it provides services.
Certain of these variances are comparatively the straightforward such as the eye colour and also hairiness, meanwhile the others source us to consider carefully how we pleasure certain groups. Specimens of the latter include the education, culture, gender, language, socio-economic upbringings, religion and sexuality, as well as civilization. A useful thought of diversity will therefore include these differences.
Ethnicity is definitely one of the most significant types of multiplicity, are both because of how closely the people identify themselves with their ethnic source and because of the large differences in areas such as education and employment amongst different ethnicities. However, things are moving in the right direction.
This is what Accommodation Times has noted down as in the form adjustments for a few employees:-
If you have the medical problem like dyslexia and if there is the need of extra time during assessments.
If you are using the sign language then the organisation will make an interpreter available for your interview
If you are using a wheelchair or have if you have limited mobility the organisation will and can ensure your interview takes place in an accessible room
If you are inflicted with any kind of the back pain and need then if you are in need of to stretch the organisation will and can provide breaks in an interview.
The requisite for the diverse workforce is the part and parcel of the human resource necessities. That are associated with the successful and continuous quality improvement initiatives. A diverse or miscellaneous workforce in which the amount of the contributions of each member or the faculty member , the staff, or say the administrator, are respected and valued is an institution's most important strength. Such a workforce is talented to manufacture a variety of the standpoints and the procedures for the fruitful completion of the tasks. Employers can build on the established individual and group strong point and develop strategies that generate an surrounding to get the best out of each and every individual.
Usually an Organisation leader keeps hold of the leadership until his or her successor takes over; nevertheless, in some circumstances this is not possible. This may be because the leader passes away or because a leader is enforced to resign due to controversy or scandal earlier a convention can be prearranged because a leader is forced to recontest his or her leadership or because a new department is incorporated from existing organisations caucuses. Occasionally an outgoing leader chooses to resign immediately in order to ensure organisational unity. This is for the reason that he or she has acknowledged an appointment or been designated to a different position, or they have lost their seat in a general election and are unable or unwilling to attempt to contest. When a sudden vacancy take place an interim leader is selected by the organisations committee or the chief management.
Changes in reporting and control
Changes to the "Reporting on Controls at an Organization" have evolved over the years for many reasons including: changes in financial reporting to user organizations; changes in the control environments of service organizations; changes in the technology available to the service organizations and the requests of user organizations therein
4.1 Development and leadership skills:-
Leadership development is one of those things that are often awfully hard to define but you know when you see it, and you definitely know when it's missing.Â
Indeed Leadership is one of those areas about which a huge amount is said while at the same time leaving big questions hanging in the air unanswered.
Essential Skills of Leadership development in the organisations
Good Communication: - Effective communication is a two-way process - sending the right message, that is also being correctly received and understood by the other person/s.
Being Articulate: - Being articulate can be magnificent in anticipation of you find out that society uses two languages. A subsequent vocabulary has to do with representative meaning and not exact meaning. It is called words in place of words sake. For those who are never showed this mental illness can bring about a downfall of language as the thoughts enters the realm of misperception and fear
Think On Your Feet:-the people in the organisation need to follow this line of thinking so as to that there is a smooth functioning and a clear understanding of the various views that are and will be raised on time to time basis.
Humour: - Humour is by far the most significant activity of the human brain.Humor brings insight and tolerance. Irony brings a deeper and less friendly understanding
Flexibility. So this has to be understood by the leadership of the organisation so as to be very chirpy as well
Integrity: - AdherenceÂ toÂ moralÂ andÂ ethicalÂ principles in the organisation means that there is integrity in the organisation.
Compelling Presence:-there should be a very effective and a good way of presence of the leadership and the various departments in the organisations, so as to maintain the smooth functioning of the organisation. That can only be achieved by the means of compelling presence
4.2 Report on the usefulness of the methods used to plan the development of leadership skills:
Role of strategic management is much bigger than leadership and it can be said that leadership is involved to get the strategic goal defined on the behalf of company owner or share holder. Leadership is developed through the experience and development activities. A smart leader should have the ability to identify the current and future needs of the leadership.