Leadership Skills and Best Practices
Added on 2020-10-04
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DEVELOPING STRATEGICMANAGEMENT &LEADERSHIP SKILLS
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1 Explain the link between strategic management and leadership...........................................11.2 Impact of management leadership styles on strategic decisions...........................................21.3 Adaptation of leadership style in different situations...........................................................3TASK 2............................................................................................................................................42.1 Review the impact that selected theories of management and leadership have onorganisational strategy................................................................................................................42.2 Leadership theory for Tesco..................................................................................................5TASK 3............................................................................................................................................63.1 Methods that review current leadership requirement............................................................63.2 Plan for future development requiring leadership.................................................................8TASK 4............................................................................................................................................84.1 Planning development of leadership skills............................................................................84.2 Analysis of the methods undertaken to develop leadership skills.........................................9CONCLUSION..............................................................................................................................10REFERENCES..............................................................................................................................12
INTRODUCTIONStrategic management is defined to be managing resources of the company in such amanner that organisational goals are attained. It aims to plan and monitor the activities ofbusiness in order to fulfil its objectives (Daley, 2012). In this competitive market it is essential tomanage the resources of a business in an with strategic approach as they are scarce in nature. Thequality and style of leadership plays a crucial role in strategic management as he is responsiblefor conducting assessment of operating environment of business and formulate action planconsidering the same. Therefore it can be ascertained that leadership and strategic managementgo hand in hand are very important when it comes to sustainability of a business. The assignmentundertakes leadership and strategic management policies of TESCO. It is a renowned retail chainoperating in the United Kingdom. This organisation cater approximately 30% of the marketthrough its distribution network of 7000 stores worldwide. The profitability of this organisationaccounted at 1.28 billion euros. This assignment intents to explore the relation shared betweenstrategic management and leadership. The application of management and leadership will becarried out as well. Leadership requirement are assessed and suitable plan is developed for thesame. TASK 11.1 Explain the link between strategic management and leadershipAn organisation is formed with a purpose to cater the needs and expectation of consumerin the most desired manner. Therefore a business opts for a consumer centric approach incarrying out their tasks that means activities and products of company are analysed fromconsumer point of view as well. To some extent the company is able to achieve the same andemerged as a leading retailer in the United kingdom. The needs of strategic management is felt ifa business keeps on fulfilling requirements of people in the manner desired by customers. Ithelps in formulating of actions plans for the business which are constructed by thoroughlyanalysing market conditions of the economy (Day and et. al., 2014). It is important to understandfactors in the external and internal environment of the company so that a better understandingcan be developed which will further lead to goal attainment (Dries and Pepermans, 2012).Resources which are possessed by the company are organised and directed towards the targetachieved by business. In layman terms, it provides a roadmap which is to followed by businessso that goals are determined. 1
Whereas on the other hand, a leader is the one who leads people towards the target. Hepossess the ability to bring various resources of the business together and to work for the same.He employs his tools of persuasion and communicating to inform its followers about the taskthey have to carry-out. The major tasks in a retail organisation are business development, supplychain, store operations and personnel management. All these mentioned tasks requires suitableleadership and management skills to make sure that they are achieved in the defined manner. However there lies a strong interconnection amongst the two. The efforts of leader andtactics by strategic management both are aimed to achieve organisational objectives. Theresources which are organised by strategic management are utilised in optimum manner by theleadership with this help of his skills and capabilities (Ely, Ibarra and Kolb, 2011). The task ofinfluencing and motivating employees to follow the roadmap is carried out by a leader. Theyemphasis on creating a workforce that helps in achieving targets which are laid down by themanagement. A leader will use tools provided by the management such as benchmarks andtimeline to complete the task on time. The dynamic nature of the environment is another factorswhich identifies needs for interconnection between leadership and management. The plans arerequired to be altered on regular basis which can be facilitated by the leader by communicatingto the management. Therefore it can be said that planning alone is not enough it requiresinterconnection with the leader for implementation of the same and achieving desired results. 1.2 Impact of management leadership styles on strategic decisionsThe management is defined to be planning, organising, delegating and controllingactivities of a business so that activities are carried out as planned. To carry out the samemanagement of a company formulates variety of decision which are for betterment of a business.The concept of strategic decision making can make sure that organisations are transformed intoindustries. It is seen that leaders are mostly future oriented. The style of management impacts theprocess of decision making as well. The decision which are taken in an organisation are based onthe nature, beliefs and values of a leader (Gentry and et. al., 2011). Through their decision theytry to depict their understanding with the vision of the company. Here listing some of the factorswhich is an amalgamation of leadership and management styles in context of the company.Decentralised structure: this management structure ensures that employees are providedwith a chance to formulate decision. Therefore the leaders and managers in the company areresponsible for formulation of decision which relies on their vision, experience and nature. The2
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