RESEARCH THE FOLLOWING USING THE INTERNET. TOPIC: - Leadership, Strategy & Competitive Advantage 1. Definition of strategic leadership - is the capacity to impact others to go with choices that improve the possibilities for the association's drawn out progress while keeping up with transient monetary security intentionally. 2. Meaning of profitable growth Profitable growth is one of the most important indicators for measuring your company's financial success. 1) Introduce new products or services to the market; 2) Expand an existing market; 3) Increase share in a growing market; 4) Compete for share in a stable market; and 5) Acquire investments. 3. How to achieve competitive advantage - refers to factors that permit an organization to create labor and products preferred or all the more efficiently over its opponents - Create a Corporate Culture that Attracts the Best Talent. ... - Define Niches that are Under-serviced. ... - Understand the DNA Footprint of Your Ideal Customer. ... - Clarify Your Strengths. ... - Establish Your Unique Value Proposition. ... - Reward Behaviors that Support Corporate Mission and Value. 4. What are the types of managers - Corporate level managers- is a business proficient who supervises an association's overall tasks. Corporate chiefs can work in various ventures including finance, advertising, assembling or innovation. They are a piece of the chief group, and they help plan and carry out business procedures. - Business level- Business level managers:Business level managers are the managers for a particular business line in the organization, for example finance, marketing and production departments, The General managers at business level or the business managers are the head of their division. Business level managers translate the strategies from corporate level management into actions at the business level. Business level managers are responsible for formulating the strategies to achieve the organizational goals, for example at GEorganizational goal is to achieve the first or second position in the business they are participating in, it is the responsibility of the General Managers in each division to formulate the strategies at business level to reach the GE's goal - Functional managers- Managers that oversee a function in a business,example product development, purchasing, customer service etc.Functional managers formulate strategies to maximize the performance at each individual functional level and manage that function whereas business level managers manage the entire division. Example at GE’s aerospace business, manufacturing managers are responsible for formulating strategies that can optimize the production costs and maximize the profits.Functional manager will have better outlook at individual functions of the business, so they can make better decisions of the strategies over theBusiness level managers or the corporate level managers. 5. Know the scope of strategic planning process - 1. Select the corporate mission and major corporate goals. - 2. Analyze the organization’s external competitive environment to identify opportunities - and threats. - 3. Analyze the organization’s internal operating environment to identify the organiza - tion’s strengths and weaknesses. - 4. Select strategies that build on the organization’s strengths and correct its weaknesses - in order to take advantage of external opportunities and counter external threats. These - strategies should be consistent with the mission and major goals of the organization. - They should be congruent and constitute a viable business model. - 5. Implement the strategies. 6. Explain Strategy as an emergent process. - An emanant methodology is an example of activity that creates over the long run in an association without any particular mission and objectives, or notwithstanding a mission and objectives. Emanant procedure is some of the time called acknowledged strategy.one that emerges from spontaneous activities and drives from inside an association. 7. What are techniques for improving Decision-making - Devil advocacy A method wherein one individual from a decision making group recognizes all the contemplations that could make a proposition unacceptable Dialectic inquiry is more complex in light of the fact that it requires the age of an arrangement (a proposition) and a counter-plan (a direct opposite) that reflect conceivable however clashing courses of activity. Outside view expects organizers to distinguish a reference class of closely resembling past essential drives, decide if those drives succeeded or failed, and assess the current venture against those earlier drives.
