BPL 5100 CHAP 1 & 2 COMPLETE SOLUTION LATEST 2024
two perspectives of leadership - romantic view and external control perspective
External Control Perspective - External forces determine the organization's success
Romantic View of Leadership - situations in which the leader is the...
two perspectives of leadership - romantic view and external control perspective
External Control Perspective - External forces determine the organization's success
Romantic View of Leadership - situations in which the leader is the key force
determining the organization's success - or lack thereof
Strategic Management - the analyses, decisions, and actions an organization
undertakes in order to create and sustain competitive advantages. Strategic
management is the study of why some firms outperform others.
Two Fundamental Questions - How should we compete in order to create a competitive
advantage in the marketplace?
How can we create competitive advantages in the marketplace that are unique,
valuable, and difficult for rivals to copy or substitute?
Key Attributes of Strategic Management - 1. Directs the organization toward overall
goals and objectives
2. Includes multiple stakeholders in decision making
3. Needs to incorporate short-term and long-term perspectives
4. Recognizes trade-offs between efficiency and effectiveness
ambidexterity - the challenge managers face of both aligning resources to take
advantage of existing product markets as well as proactively exploring new
opportunities
Intended Strategy - strategy in which organizational decisions are determined only by
analysis
Realized Strategy - strategy in which organizational decisions are determined by both
analysis and unforeseen environmental developments, unanticipated resource
constraints, and/or changes in managerial preferences
Strategy Analysis - study of firms' external and internal environments, and their fit with
organizational vision and goals
strategy formulation - decisions made by firms regarding investments, commitments,
and other aspects of operations that create and sustain competitive advantage
, strategy implementation - actions made by firms that carry out the formulated strategy,
including strategic controls, organizational design, and leadership
Corporate Governance - is the relationship among various participants in determining
the direction and performance of corporations.
Primary participants:
Shareholders
Management (led by the Chief Executive Officer)
The Board of Directors (BOD
Stakeholder Management - processes to identify the people, groups, or organizations,
that could impact or be impacted by the project, analyze their expectations and impact,
and develop strategies for engaging them and managing conflicting interests
Two views of stakeholder management - zero sum and symbiosis
zero-sum N- N Nview Nof Nstakeholder Nmanagement Nis Nrooted, Nin Npart, Nin Nthe Ntraditional
Nconflict Nbetween Nworkers Nand Nmanagement, Nleading Nto Nthe Nformation Nof Nunions Nand
Social NResponsibility N- N Nis Nthe Nexpectation Nthat Nbusinesses Nor Nindividuals Nwill Nstrive Nto
Nimprove Nthe Noverall Nwelfare Nof Nsociety.
Triple NBottom NLine N- N Nassessment Nof Na Nfirm's Nfinancial, Nsocial, Nand Nenvironmental
Nperformance
local Nline Nleaders N- N Nhave Nprofit Nand Nloss Nresponsibility
Executive Nleaders N- N Nchampion Nand Nguide Nideas, Ncreate Na Nlearning Ninfrastructure, Nand
Nestablish Na Ndomain Nfor Ntaking Naction
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