Flashcards
Chapter 13: Creating Vision and Strategic Direction
Cards in this deck (34)
- 14 Leadership Styles: Providing Direction1. The Dreamer
2. The Effective Leader
3. The Uninvolved
4. The Doer - 2The DreamerHigh vision low action
-is good at providing a big idea with meaning for self and others
- weak in executing strategic action - 3The Effective LeaderHigh Vision High Action
-dreams big and transforms those dreams into significant strategic actions
-through own actions or hiring other leaders who are just as effective - 4The UninvolvedLow Vision Low Action
- 5The DoerAll action and little vision
-hard worker dedicated to job
-working blind (no sense of purpose or direction - 6Strategic leadershipthe ability to anticipate and envision the future, maintain flexibility, think strategically, and initiate change that will create a competitive advantage for the organization in the future
- 7The Domain of Strategic Leadership1. Vision
2. Mission
3. Strategy
4. Mechanism for execution - 8VisionWhere are we headed?
-an attractive, ideal future that is credible yet not readily attainable - 9MissionWho are we?
-the organization's core broad purpose and reason for existence - 10StrategyHow do we get there?
- 11What Vision Does-Vision links the Present to the Future
-Vision Energizes People and Focuses Attention
-Vision gives meaning to work
-Establishes a standard of excellence and integrity - 12Mechanisms for ExecutionHow do we get there?
- 13Strategic leaders...1. Anticipate threats and opportunities
2. Challenge the status quo
3. Interpret Trends
4. Achieve Alignment - 14Bifocal Visionthe ability to take care of the needs today and meet current obligation while also aiming toward dreams of the future
- 154 common themes of Vision1.Has a broad appeal
2. Deals with change
3. Reflects high ideals (self-reference)
4. Defines the destination and the journey - 16Self referencea principle stating that each element in a system will serve the goals of the whole system when the elements are imprinted with an understanding of the whole
- 17Co-Creationwhen leaders and followers create a vision in building the desired future of company
- 186 steps to co-create vision1. Target a vision for a desired future
2. Co-create the vision
3. Identify Strengths
4. Write a first draft
5. Solicit feedback and create the final vision statement
6. Share the vision widely - 192 parts of Mission1. Core Values (guide the organization 'no matter what')
2. Core purpose (used for growth and change)
In the mission statement - 20Noble Purpose...a purpose that inspires and leads followers to high performance and helps the organization maintain a competitive advantage
- 214 Parts of Noble Framework1. Discovery: Finding the new
2. Excellence: Being the best
3. Altruism: Providing Service
4. Heroism: Being Effective - 22Strategic Managementthe set of decisions and actions used to formulate and implement specific strategies that will achieve a competitively superior fit between the organization and its environment so as to achieve organizational goals
- 23Strategythe general plan of action that describes resource allocation and other activities for dealing with the environment and helping the organization attain its goals.
- 24To develop strategy...1.leaders actively listen to people both inside and outside the organization
2. they examine trends and discontinuities in the environment
3. study events that have already taken place - 25How to develop industry forsightstudy trends in technology, demographics, government regulation, values, and lifestyles that will help identify new competitive advantages
- 26Situational AnalysisSWOT that affects organizational performance
- 27Elements of Strategy1. Core Competence
2. Synergy
3. Value
4. Strategy Formulation - 28Core Competencesomething the organization does extremely well in comparison to competitors
- 29Synergythe interaction of organizational parts to produce a joint effect that is greater than the sum of the parts
- 30Valuethe combination of benefits received and costs paid by customer
- 31Strategy Formulationintegrating knowledge of the environment, vision, and mission with the core competence in such a way as to attain synergy and create customer
- 32Strategic Executionputting strategy into action by adjusting various parts of the organization and directing resources to accomplish strategic goals
- 33Line of sightfollowers see and understand the goals and how their actions will contribute to achieving them
- 344 steps to Implement Strategy1. Create ongoing communication
2. Teach the "why"
3. Explain what this new thing means to each person
4. Tell what is not changing
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- Business/Economics Flashcards on Chapter 13: Creating Vision and Strategic Direction, created by Ari Minors on 31/03/2018.
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- Ari Minors
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