Strategic Management

Strategic Management involves making decisions that will guide an organization to success, setting long-term goals and developing plans to achieve the goals that have been set. Leaders are responsible for effectively shaping and executing the organization's strategy.

Below are some key aspects of how strategic management is linked with leadership:

Strategic Planning: A strategic plan that outlines the initiatives and steps which are required to achieve the strategic goals should be something that leaders work on with their teams to ensure that the strategic goals which are set are clear and achievable. 

This will often involve allocating resources, defining strategies and establishing a timeline to implement them.

Decision Making: Critical decisions related to prioritization, risk management and related resource allocation should be made by leaders. 

The decisions made should be in line with the organization's strategic objectives.

Goal Setting: Clear and achievable strategic goals should be set out and leaders need to work with their teams to ensure that all employees are aware of the goals.

The goals should align with the organisation's vision and mission and serve as the guiding principles for the whole organization.

Mission and Vision: Leaders are usually the ones who are responsible when it comes to defining the organization's mission and vision. Leaders should work to create a cohesive and synergistic environment that will encourage employees to collaborate toward strategic objectives.

Communication: Strategic direction should be well-communicated to all team members by effective leaders. They must show the vision, mission and goals and ensure that they help their employees understand how each of their roles contributes to the overall strategy. 

Evaluation and Monitoring: The process of tracking and assessing progress towards strategic goals is something the leaders oversee. Regularly evaluating, allows for course for correction and adjustments to be made as needed. 

Leadership Development: As a leader, you will play a role in developing future leaders with the organization you lead. Leaders will do this by providing opportunities for individuals to grow into leadership roles as well as nurturing talent which will help to ensure the continuity of leadership. 

Adaptation: When it comes to any business environment, things will always change when we least expect it and as a leader, we need to be ready to adapt when things change. Leaders should always be open to revising any strategic plans as and when necessary to respond to internal changes or market shifts. 

Accountability: Leaders always hold themselves accountable when it comes to meeting objectives they have outlined in the strategic plan. This includes recognizing and addressing any issues in performance that may arise.  

Strategic management within leadership is not something that is a one-off, it is an ongoing process that will require a deep understanding of the organization's external and internal dynamics. It also includes the ability to guide the organization you lead toward its desired future state. 

For an organization's long-term sustainability and success, it requires effective strategic leadership which is critical to reach success.