Chapter 2 Notes

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Department
Management (MGS)
Course
MGSC01H3
Professor
Professor Constantinou
Semester
Fall

Description
Chapter 2 Vision and Mission NotesStrategic Leadershipleadership is the task of exerting influence on other peoples pursuit of goals in an organizational contextstrategic leadership is the task of managing an overall enterprise and influencing key organizational outcomes such as companywide performance competitive superiority innovation strategic change and survivalThe Roles Leaders FillThe Skill Set of the Effective Strategic Leader The Level 5 HierarchyWhat Makes an Effective Executive Teameffective teamwork requires four criteria1the team responds to a complex and changing environment2the team can manage the needs of interdependent but often diverse units arenas or functional areas3the team has a valuable and effective social network4the team is able to develop a coherent plan for executive successionthe team is composed of people who have diverse backgrounds in terms of demographics and experience but who can nevertheless work well together as a network and take advantage of the resources and knowledge they have access to by virtue of each team members personal and professional networkssuccession planning is the process of managing a wellplanned and wellexecuted transition from one CEO to the next with positive outcomes for all key stakeholdersThe Imprint of Strategic Leadership Vision and MissionDefining Vision and Missionvision is a simple statement of where a firm is going and what the firms leaders want it to be in the futurea statement of vision is forwardlooking and identifies the firms desired longterm statusa mission is a declaration of what a firm stands for in relation to key organizational stakeholders like employees customers investors government and the environmentthe fundamental values and purpose that its leaders believe are shared and prized among those stakeholdersvision and mission influence strategy formulation and implementationStrategic Purpose and Strategic CoherenceStrategic Purposevision and mission statements are actually statements of organizational identity and purpose that can guide executives in making corporate decisionsvision and mission statements provide all employees with strategic purpose a simplifiedwidely shared
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