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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 1 24 Chapter Three: The External Environment Chapter Three: The External Environment 2 0 0 9 Hitt, Ireland, Hoskission, Rowe & Sheppard Strategic Management N o t e s Chapter Thirteen: Strategic Leadership Competitiveness & Globalization
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 2 24 The Strategic Management Process Chapter 5: Bus.-Level Strategy Chapter 6: Competitive Dynamics Chapter 7: Corp.-Level Strategy Chapter 8: Acquisition & Restructuring Chapter 9: International Strategy Chapter 10: Cooperative Strategy Strategy Formulation Chapter 11: Corporate Governance Ch. 12: Org. Structure & Controls Chapter 13: Strategic Leadership Chapter 14: Org. Renewal & Innovation Strategy Implementation Strategic Actions Ch. 1: Strat. Mgmt. & Com- petitiveness Ch. 2: Strat. Mgmt. & Performance Chapter 3: The External Environment Chapter 4: The Internal Environment Strategic Competitiveness Strategic Mission & Strategic Intent Strategic Objectives & Inputs Chapter 13: Strategic Leadership
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 3 24 Strategic Leadership Knowledge Objectives 1.Describe strategic leadership & differentiate between strategic, visionary & managerial leadership. 2.Define top management teams & explain their efforts on firm performance, innovation & strategic change. 3.Note the value of strategic leadership in deciding a firms strategic direction. 4.Explain the strategic leaders role in exploiting core competencies, notably in developing human capital. 5.Note the importance & use of organizational controls. 6.Define & explain how to sustain an effective ethical organizational culture.
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 4 24 A Word on Situational Leadership Lo w High DIRECTIVE BEHAVIOUR SUPPORTTIVE BEHAVIOUR Four Leadership Styles Staff Development Level Lowest: Highly Leader Directed Low: Leader directed High: Self directed Highest: Highly Self directed Lo w High DIRECTIVE BEHAVIOUR SUPPORTTIVE BEHAVIOUR B O N U S Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 5 24 Managerial Leaders Strategic Leaders Visionary Leaders Want stability & to preserve the existing order Are comfortable handling short-term day-to-day activities Guide without strategic vision. Constrained by values & by use explicit knowledge Manage the paradox created by use of managerial & visionary leadership models Define boundaries by use of metaphors, analogies & models to allow for a mix of contradictory concepts Encourage opposing capabilities to guide knowledge creation (e.g. individual, group, & firm tacit & explicit knowledge) Are future-oriented concerned with risk-taking Are not dependent on the firm for their sense of who they are Control by social- ization & sharing common norms, values & beliefs Leadership Types
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 6 24 G. Richard Wagoner, Jr. GM CEO 2000- 2008 A period when GM lost $85 bilion. Managerial Leaders Adopt impersonal, passive attitudes towards goals.Adopt impersonal, passive attitudes towards goals. View work as enabling process that involves some combination of ideas & people interacting to establish strategies & make decisions.View work as enabling process that involves some combination of ideas & people interacting to establish strategies & make decisions. Relate to other people according to their role in the decision making process.Relate to other people according to their role in the decision making process. Maintain a low level of emotional involvement in these relationships.Maintain a low level of emotional involvement in these relationships. Influence only the actions & decisions of those with whom they work.Influence only the actions & decisions of those with whom they work. Want stability & strive to preserve existing order.Want stability & strive to preserve existing order. I dont know how we lost $85 billion G. Richard Wagoner, Jr. GM CEO 2000-2008 Leadership Types
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 7 24 Visionary Leaders Shape ideas versus reacting to them.Shape ideas versus reacting to them. Influence changes in the way people think about what is possible, desirable and necessary.Influence changes in the way people think about what is possible, desirable and necessary. Are concerned with ideas & relate to people in intuitive & empathetic ways.Are concerned with ideas & relate to people in intuitive & empathetic ways. More likely to make decisions based on values.More likely to make decisions based on values. Willing to invest in human capital & creating & main- taining effective culture to ensure long term viabilityWilling to invest in human capital & creating & main- taining effective culture to ensure long term viability Are future-oriented & concerned with risk taking.Are future-oriented & concerned with risk taking. Want creativity, innovation and chaos.Want creativity, innovation and chaos. Strive to change the existing order.Strive to change the existing order. Leadership Types
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 8 24 Strategic Leaders A synergistic combination of managerial & visionary leadership.A synergistic combination of managerial & visionary leadership. Manages the paradox created by the use of managerial & visionary models.Manages the paradox created by the use of managerial & visionary models. Establishes the context through which stake- holders are able to perform at peak efficiency.Establishes the context through which stake- holders are able to perform at peak efficiency. Willing to make candid, courageous & yet pragmatic decisions.Willing to make candid, courageous & yet pragmatic decisions. Solicits corrective feedback from peers, superiors & employees about the value of their difficult decisions.Solicits corrective feedback from peers, superiors & employees about the value of their difficult decisions. Leadership Types
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 9 24 Managerial Discretion External Environment Industry Structure Rate of market growth Number & type of competitors Political/Legal constraints Product differentiation Organizational Characteristics Size and age Culture Resource availability Employee interaction Factors Affecting Managerial Decisions Interpersonal skills Tolerance for ambiguity Commitment to the firm Aspiration level Self-confidence Characteristics of the Manager What impacts decisions?
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 10 24 Are teams comprised of key managers responsible for formulating & implementing a firms strategies. Heterogeneous teams with varied knowledge & expertise can draw on multiple perspectives to evaluate alternative strategies & build consensus. However, these teams must be able to function effectively as a team in order to implement strategies.However, these teams must be able to function effectively as a team in order to implement strategies. A heterogeneous team makes this more difficult.A heterogeneous team makes this more difficult. Top Management Teams Top Management Teams Factors Affecting Managerial Decisions What impacts decisions?
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  • Balanced Scorecard Above Average Returns Leaders & the Mgmt. Process Situational Leadership Leadership Types What impacts decisions? Strategic Leadership Implementing 11 24 Strategic Leadership Presumes An ability to influence those with whom one works.An ability to influence those with whom one works. The leader understands the emergent strategy process.The leader understands the emergent strategy process. A shared vision of what the organization is to be.A shared vision of what the organization is to be. Agreement among senior manger & board members of opportunities and threats.Agreement among senior manger & board members of opportunities and threats. Visionary leadership that entails many characteristics such as a willingness to take risks.Visionary l