Effective Strategic Leadership PaperbackThe storied British banker and financier Nathan Rothschild noted that great fortunes are made when cannonballs fall in the harbor, not when violins play in the ballroom. Rothschild understood that the more unpredictable the environment, the greater the opportunity—if you have the leadership skills to capitalize on it. Through research at the Wharton School and […]. The more uncertain your environment, the greater the opportunity—if you have the leadership skills to capitalize on it. They are the abilities to anticipate, challenge, interpret, decide, align, and learn. This article describes the six skills in detail and includes a self-assessment that will enable you to identify the ones that most need your attention.
4 Ways For Leaders to Make a Decision
The above quote by Albert Einstein perfectly captures the need of strategy and the essence of strategic leadership. In order to solve problems and move forward, people need to interpret the world around them with a fresh insight and vision. The leadership style is much more than just an idea of how to implement certain policies or processes. In order to understand what the strategic framework looks like in action, you need to dissect it. This essentially means looking at the definition of strategy and how it can be linked to leadership. Furthermore, you need to examine the purpose of strategic leadership, as it can help realize the requirements and objectives of using this style.
Most companies have leaders with the strong operational skills needed to maintain the status quo. Every enterprise faces these kinds of challenges today. A PwC study of 6, senior executives, conducted using a research methodology developed by David Rooke of Harthill Consulting and William Torbert of Boston University, revealed just how pervasive this shortfall is. Respondents were asked a series of open-ended questions; their answers revealed their leadership preferences, which were then analyzed to determine which types of leaders were most prominent. Most companies lack people in positions of power with the experience and confidence required to challenge the status quo. The study suggests that strategic leaders are more likely to be women 10 percent of the female respondents were categorized this way, versus 7 percent of the men , and the number of strategic leaders increases with age the highest proportion of strategic leaders was among respondents age 45 and above. It may seem disheartening that such a small percentage of senior leaders can operate this way.
Strategic Leadership is the ability to influence others to voluntarily make decisions that enhance the prospects for the organisation's long-term success while maintaining short-term financial stability. Different leadership approaches impact the vision and direction of growth and the potential success of an organization. To successfully deal with change, all executives need the skills and tools for both strategy formulation and implementation. Strategic leadership provides techniques that focus organizations when they are deciding on their purpose and best business practices that are critical for remaining competitive and relevant. Being able to learn and adapt has become vital for sustainability. Failure to be able to adapt to changing technology, climate change, and economic factors risks the organization becoming obsolete. Remaining successful requires a different way of thinking about how to marshal the resources and deliver services.