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Related Flashcards
Related Topics
Cards In This Set
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Strategic leadership
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The ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary _______ shapes the formation of vision and mission and influences successful strategic actions with formulation and implementation of strategies yielding strategic competitiveness and above-average returns
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Factors affecting managerial discretion: external environment (5)
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1. industry structure
2. rate of market growth3. number & type of competitiors 4. nature & degree of political/legal constraints 5. degree to which products can be differentiated |
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Factors affecting managerial discretion: characteristics of the organization (5)
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1. size
2. age 3. culture 4. availability of resources 5. patterns of interaction among employees |
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Factors affecting managerial discretion: characteristic of the manager (5)
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1. tolerance for ambiguity
2. commitment to the firm & its desired strategic outcomes 3. interpersonal skills 4. aspirational level 5. degree of confidence |
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Top management team
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Composed of the key individuals who are responsible for selecting and implementing the firm's strategies ______, firm performance and strategic change
the CEO and ________ power |
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Heterogeneous top management team
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Composed of individuals with different functional backgrounds, experiences, and education
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Managerial succession: two types of managerial labor markets: internal managerial labor market
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Consists of a firm's opportunities for managerial positions and the qualified employees within that firm
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Managerial succession: two types of managerial labor markets: external managerial labor market
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Collection of managerial career opportunities and the qualified people who are external to the organization in which the opportunities exist
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Effects of CEO succession & top mgmt team composition on strategy
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Internal CEO succession & homogeneous: stable strategy;
external CEO succession & homogeneous: ambiguous (possible change in top mgmt team & strategy) internal CEO succession & heterogeneous: stable strategy with innovation external CEO succession & homogeneous: strategic change |
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Key strategic leadership actions (5)
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1. determining strategic decision
2. effectively managing the firm's resouce portfolio 3. sustaining an effective organizational culture 4. emphasizing ethical practices 5. establishing balanced organizational controls |
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Determining strategic decisions
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Involves specifying the vision and the strategy to achieve this vision over time;two parts: core ideology and envisioned future
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Effectively managing the firm's resource portfolio subsections (2)
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1. exploiting and maintaining core competencies
2. developing human and social capital |
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Core competencies
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Capabilities that serve as a source of competitive advantage for a firm over its rivals; continuously develop current ______ and build new ones = dynamic capability
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Competitive agility
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Ability to act in a variety of competitively relevant ways
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Competitive speed
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Ability to act quickly when facing environmental and competitive pressures
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