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Strategic Direction and Leadership - Stanbic Bank Ghana Limited (SBGL) Report

Added on - 23 Jan 2020

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Strategic Directionand Leadership
Table of ContentsCollective strategy development............................................................................................3INTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................41.1 Analysis of social, political, operational and ethical needs for strategies........................41.2 Methodologies to develop collective strategy internally and externally..........................51.3 Opportunities regarding collective strategy's future development..................................7TASK 2...........................................................................................................................................82.1 Collective strategy and its formation................................................................................82.2 Policies and strategic issues that affect collective strategy..............................................92.3 Influence of different factors on collective strategy.......................................................10TASK 3.........................................................................................................................................123.1 Ways to resolve tension among different ethics and culture..........................................123.2 Use of strategic intelligence in formulation and development of strategy.....................123.3 Contribution of thinking and knowledge in the development and formulation of collectivestrategy.................................................................................................................................13TASK 4..........................................................................................................................................144.1 Difference between individual organisation strategy and collective strategy................144.2 Link between aspiration of the collective strategy and the ethical ,cultural and operationalobjectives..............................................................................................................................154.3 Exercising critical understanding of different organisational ,philosophical andmethodological approaches..................................................................................................16CONCLUSION.............................................................................................................................17REFERENCES..............................................................................................................................18
Collective strategy developmentCollective strategy can be defined as the attempt of an organisation to makeadministration of interdependence by replacing contractual regardinginterconnectedness of competition through social environment. Collective strategy willbe helpful for removing negative things which occur in an organisation. In thisemployees and organisation make collaborative efforts for the growth and developmentof the company. It is very important to have a collective strategy in an organisation as itinvolves different employees and their ideas which helps in developing effectivestrategies and tactics.INTRODUCTIONStrategic direction can be defined as the critical coordinator for control asdevelopment projects will be able to ascertain their needs for their strategic goals. It isthe course of action which helps in achieving objectives and goals related toorganisation's strategy (Carter and Greer, 2013). Strategic direction may also bereferred as strategic management. In strategic management there is the involvement ofimplementation and formulation of major initiatives and goals which are assigned by topmanagement of the company on behalf of their owners, by considering resources ,external and internal environment. Strategic direction and leadership are in coordinationwith one another (Berthon and et.al., 2012). Strategic leadership can be termed as theability which is used to influence others in order to make necessary decisions which willenhance the organisation's success as well as will maintain financial stability. Thisreport is based on the topic of strategic direction and leadership, and the chosencompany for it isStanbic Bank Ghana Limited (SBGL). This report will be helpful forsenior managers and directors to develop their skills and ability in an organisation increating and exploring collective strategy so as to meet anticipated political, social,commercial and cultural needs. In this report effects of social,political,economic,environmentaland ethical andoperational issuesfor the development of the strategy inan organisation will be analysed. Importance and role of collective strategy, role ofstakeholders and administrations, different communication channel and leadership
skills, organisational strategy, cultural and ethical issues will also be discussed in thisreport.TASK 11.1 Analysis of social, political, operational and ethical needs for strategiesThere are many common strategies which are there between administration andorganisation. These common strategies may be related to organisation's perfection, forhandling fear, for dealing with people's opinions and feelings, for building protective walland many more. These common strategies between SBGL and management mayconsist of political, social, operational and ethical needs(Aaker and Joachimsthaler,2012).Political:Political factors helps in providing simple framework by whichstrategies can be made easily. It helps to facilitate understanding for wide businessenvironment. Helps in encouraging development of strategic and external thinking.Helpful for an organisation to anticipate future threats, with the help of which SBGL candevelop effective strategies(Berthon and et.al., 2012).There are various pros and consof political factors, it provides advantage regarding compromise and debate. In ancompetitive environment without having competition with political factors, businesscannot achieve growth. Government is made up of different individuals who collectivelymake different policies. They explore different ideas on how things should be done andhow policies will be effective for business. On the other hand political environmentproduce large competition, it make it difficult for companies to work. Politicalenvironment in Ghana is conducive for the banking sectors. It provides them goodopportunity to grow and develop.Social:Helps company to identify needs of society for the development ofstrategies. Helps an organisation to find out business opportunities. This factor helps inavoiding actions which will give failure to the organisation. Company can also analysedemographic changes, trends of people, their thinking an work.Granting loans, takingdeposits and providing appropriate service is the main business of banks. No matterwhat kind of culture, what king of banking services and products, what kind of country,bank is responsible for its customers in a social way. Global regulations which are
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