Page 225 - DCOM506_DMGT502_STRATEGIC_MANAGEMENT

Unit 12: Behavioural Implementation

Executive level. It gives an opportunity to discuss and agree expectations of communication Notes
and, primarily, agree a set of Values and Principles that all stakeholders will abide by.
5. Communicating Information: expectations are established and agreed for the manner in
which communications are managed between stakeholders - who receives communications,
when, how and to what level of detail. Protocols may be established including security
and confidentiality classifications.

Notes An organisation can follow these basic tips to manage their stakeholders effectively:
1. The organisation must prioritise business and stakeholders’ needs. In order to feel
like the organisation is still yours without offending or losing big stakeholders that
contribute money to keep your company in business, the organisation needs to
think strategically and balance out business needs and stakeholders’ needs. This
means that they have to capture business processes and link them to projects software
and capabilities. They will also need to modify their prioritisation as their
understanding of the application and stakeholder needs change. They also need to
take into consideration the customer needs as well by involving them in the project.
2. The organisation should develop the growth activities around stakeholder needs.
By leveraging certain developments or user center designs, an organisation can
accept the fact that stakeholder needs will change over time. As you business changes
so will the needs of the stakeholders and they will need to also meet their changing
needs.
3. The organisation should understand the available assets. By understanding what
assets are available to the business, they can also balance asset reuse with stakeholders
needs. Some examples of business assets would be legacy applications, reusable
components, etc.

12.2 Strategic Leadership

Leadership is the art and process of influencing people so that they will strive willingly and
enthusiastically towards achievement of the organisation’s purpose. Specific styles of leadership
are often associated with specific approaches to the crafting and execution of strategies. The
organisation’s purpose and strategy do not just drop out of a process of discussion, but are
actively directed by an individual with strategic vision, whom we call “strategic leader”.
Strategic leadership establishes the firm’s direction by developing and communicating a vision
of the future and inspiring organisation members to move in that direction. Unlike managerial
leadership which is generally concerned with the short-term day-to-day activities, strategic
leadership is concerned with determining the firm’s strategy, direction, aligning the firm’s
strategy with its culture, modeling and communicating high ethical standards, and initiating
changes in the firm’s strategy when necessary. The most successful leadership is not just to
define the vision and mission of an organisation in a cold, abstract manner but to communicate
trust, enthusiasm and commitment to strategy.

Example: Bill Gates of Microsoft, Akio Morita of Sony, Jack Welch of General Electric,
Gianni Agnelli of Fiat, Narayana Murthy of Infosys, are all examples of strategic leaders who
have guided and shaped the direction of their companies.

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