BUS 478 Chapter Notes - Chapter 12: Balanced Scorecard, Real Options Valuation, Social Capital

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 478
• Professor: Da Silva Rui Jorge Basto

Document Summary

Effective strategic leadership is the foundation for successfully using the strategic management process. Strategic leadership is the ability to anticipate, envision, maintain flexibility, and empower others to create strategic change as necessary. Strategic change is change brought about as a result of selecting and implementing a firm"s strategies. Multifunctional in nature, strategic leadership involves managing through others, managing an entire organization rather than a functional subunit, and coping with change that continues to increase in the global economy. The ability to attract and then manage human capital may be the most critical of the strategic leader"s skills, especially because the lack of talented human capital constrains firm growth. Effective strategic leaders also create and then support the context or environment through which stakeholders can perform at peak efficiency. Primary responsibility for strategic leadership is with the ceo. Other common leaders are the board of directors, the top management team, and divisional general managers.