Leading Strategically - Leading Strategically Leading...

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Unformatted text preview: Leading Strategically Leading Strategically Rod Thirion Strategic Leadership Strategic Leadership 1. Developing a vision for the firm. 2. Designing Strategic actions to achieve this vision. 3. Empower others to carry out those strategic actions. “STRATEGY is; A style of thinking, a conscious and deliberate process, an intensive implementation system, the science of insuring FUTURE SUCCESS.” Pete Johnson Strategic Leadership Actions Strategic Leadership Actions 1. Establishing the vision and mission 2. Developing the management team and planning for succession 3. Managing the resources portfolio 4. Building an entrepreneurial culture 5. Promoting integrity and ethical behavior 6. Using effective controls Establishing the Vision and Mission Establishing the Vision and Mission A strategic vision concerns a firm’s future path; "where we are going” The mission statement focuses on current activities; “who we are and what we do” Elements of Elements of a Mission Statement Customer needs & wants ­what is being satisfied Customer groups & markets – who is being satisfied Technologies, resources, business approaches and activities that are performed – how customer needs are satisfied Elements of a Elements of a Strategic Vision Provides management’s hopes for the business Creates a map for the future. Where are we going? Focuses energies of employees in a common direction Creates and molds organizational identity Must be distinctive and specific to a particular organization. Should avoid use of generic language Establishing the Vision and Mission Establishing the Vision and Mission Examples Mission and Vision are not always easily distinguishable. At Microsoft, we're motivated and inspired every day by how our customers use our software to find creative solutions to business problems, develop breakthrough ideas, and stay connected to what's most important to them. We are committed long term to the mission of helping our customers realize their full potential. Just as we constantly update and improve our products, we want to continually evolve our company to be in the best position to accelerate new technologies as they emerge and to better serve our customers. http://www.microsoft.com/About/CompanyInformation/ourbusinesses/business.mspx Establishing the Vision and Mission Establishing the Vision and Mission Examples Mission and Vision are not always easily distinguishable. Pixar Animation Studios is an Academy Award ®­winning computer animation studio with the technical, creative and production capabilities to create a new generation of animated feature films, merchandise and other related products. Pixar's objective is to combine proprietary technology and world­class creative talent to develop computer­animated feature films with memorable characters and heartwarming stories that appeal to audiences of all ages. http://www.pixar.com/companyinfo/about_us/overview.htm Vision & Company Values Vision & Company Values Statement’s of values are often provided to guide the company’s pursuit of its vision Values are beliefs, business principles, and ways of doing things that are incorporated into operations and behavior Values statements should be closely connected to and reinforce vision, strategy, and operating practices Values Example Values Example Our Values As a company, and as individuals, we value integrity, honesty, openness, personal excellence, constructive self­criticism, continual self­improvement, and mutual respect. We are committed to our customers and partners and have a passion for technology. We take on big challenges, and pride ourselves on seeing them through. We hold ourselves accountable to our customers, shareholders, partners, and employees by honoring our commitments, providing results, and striving for the highest quality. http://www.microsoft.com/about/default.mspx Developing the Management Team Developing the Management Team and Planning for Succession Top Management Team Group of managers charged with the responsibility to develop and implement the firm’s strategies. Management Succession Since strategic management and planning is long term in nature, this is an absolute must. Managing the Resources Portfolio Managing the Resources Portfolio Human Capital Knowledge and skills of those working inside the firm Social Capital Includes internal and external relationships that provide value to customers… if they are happy…then the stakeholders will be Building an Entrepreneurial Culture Building an Entrepreneurial Culture Encourage employees to identify and exploit new opportunities. 1. 2. 3. 4. 5. 6. 7. Give them time Open atmosphere Embrace change Reward new ideas Train Motivate Others? Promoting Integrity and Ethical Promoting Integrity and Ethical Behavior Involves concepts of right and wrong behaviors, fair and unfair actions, moral and immoral behaviors Business ethics involves applying general ethical principles and standards to everyday business behavior Ethical principles in business are not different from ethical principles in general Business actions are judged by general ethical standards of society, not by more permissive “local” standards Using Effective Controls Using Effective Controls Financial Controls Typically focus on shorter­term financial outcomes. Key is to balance with areas such as R&D, Marketing and Training. Never forget that it takes $$$ to make $ $$. Strategic Controls Focus on the content of strategic actions rather than on their outcomes. Encourage managers to focus on the long­term and to take risks. Does not forsake the short­term! Strategic Leadership Actions Strategic Leadership Actions 1. Establishing the vision and mission 2. Developing the management team and planning for succession 3. Managing the resources portfolio 4. Building an entrepreneurial culture 5. Promoting integrity and ethical behavior 6. Using effective controls Try New Things, New Ways Try New Things, New Ways “Insanity: doing the same thing over and over again and expecting different results.” Albert Einstein “Insanity in individuals is something rare ­ but in groups, parties, nations and epochs, it is the rule.” Friedrich Nietzsche ...
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This note was uploaded on 11/05/2011 for the course ACCOUNTING 101 taught by Professor Online during the Spring '11 term at Colorado Technical University.

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