The role of Business Strategy and Leadership
A business strategy sets the direction for all corporate operations by establishing the vision of the organization. The leadership creates this vision in order to adapt to or remain competitive in a changing economic and technical environment employing various management techniques.
A business strategy is not just a comprehensive plan which includes objectives, initiatives, and budgets. Building a business strategy is much more than this. It is a combination of corporate strategy, competitive strategy, functional strategy, and operating strategy. It is a journey with a goal and a process component (how to get there). The management must step outside of its comfort zone and avoid the typical planning traps.
Strategy is about understanding your environment and making choices about what you will do. Whereas, planning is about making choices about how to use the resources you have and the actions you will take to achieve the choices made inside your strategy.
The business strategy used to be kept as a secret, known only to the top leadership, out of concern that rivals may exploit it. However, it is crucial these days that everyone in the organization grasps the strategy and align their daily activities with it.
Similarly, in many companies, leadership has become mostly about negotiating deals and organizing operational changes. The job of the leader is far larger and more significant. Leaders must engage in a strategic planning process in order to ensure effective implementation of the business strategy and address all concerns of different stakeholders by adding some value.
Leadership is the major factor that makes everything work together seamlessly; without leadership, all other business resources are ineffective. In the workplace, the adoption of a clear business strategy and effective leadership can boost overall performance, encourage teamwork, foster a sense of larger good, inspire motivation and trust, and offer purpose and direction.
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Apply these to what you do and ask yourself:
"With the level of uncertainty we see today, more people are asking, how can you develop a strategy in a world that keeps changing so fast??They are afraid that a set of rigid principles will hinder their ability to react quickly.?I argue that it is precisely at such times that you need a strategy."
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3 个月???? ????????????????????: Business Strategy & Leadership https://www.dhirubhai.net/newsletters/business-strategy-leadership-6990741791511580672/
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2 年This not only speaks about organisation policy on privacy - it also explores how information should be assimilated and consumed/used within the business framework. Timing is everything and most times strategy revolves around discretion and discernment - because oftentimes a talent working under you or with you might give a little bit to you, yet take everything they learn from you and give a lot elsewhere. To be strategic requires successful concentration on what's the priority and should be totally void of sentiments. It's really not your fault if others misunderstand their place with you, but it is your responsibility to make sure they understand your value in going for more irrespective of their own decision. Leadership is so vast and requires thorough understanding of what you are doing, where you are going, who you are selling to, and how are you representing the message within.