Management and Leadership Skills

Developing Strategic Management and Leadership Skills

„Strategic Management can also be defined as "the identification of the purpose of the organisation and the plans and actions to achieve the purpose. It is that set of managerial decisions and actions that determine the long term performance of a business enterprise. It involves formulating and implementing strategies that will help in aligning the organization and its environment to achieve organisational goals."

(Lamb, Robert (1984)Boyden Competitive strategic management, Englewood Cliffs, NJ: Prentice-Hall,)

It is clear that leadership and strategic management both serve an organisation to achieve better performance and able to perform continuos development. All companies are faced today rapid change of business environment, globalised markets with more and more competitors and the effects of recession. Leadeship strategies and skills have to be matched with the plans and projects of the management to attain sustainable competitive advantage.

Relationship between strategic management and leadership

Link between strategic management and leadership

Management and leadership are often considered as synomyms. It is true that they have a strong connection to each other, but the two words have different meanings. Both are crucial to the success of an organisation.

Leadership is the activity, which leads an organisation towards a pre-defined direction or goal. The leader has a clear understanding of visions and goals and the ability to coordinate, direct and support teams and individuals to be able to reach these. Effective leadership plays a key role in running a successful business.

Strategic management defines plans and organises the efficient and effective operation of a company. It identifies the strategies that managers/leaders have to folllow to achive the possible best performance. Strategic decisions secure the ongoing development of a company. This continous process analyses...