WEEKLY “Learning from Mistakes” Write-ups (Weeks 3-12):
a. Please read the “Learning from Mistakes” mini cases at the beginning of each chapter. Then read the remainder of the chapter with the following question in mind: How would the concepts and ideas in the chapter have helped to address the strategic mistakes described in the “Learning from Mistakes” mini case?
b.
c. You must include concepts and terms from the readings. Content is more important than quantity. This write-up should be around 300–600 words. No more than 600 words.

Today in the chaotic world of business, leadership is a pertinent aspect of a successful organization. Leadership is the process of enforcing transformative change to sure an organization accomplishes its mission and goal. The process should be overseen by a practical, goal-oriented, and focused individual followed by firm strategic strategies to facilitate transitional growth and achievement of the business objective.  Following this, an organization should adopt a strategic plan to implement successful leadership.

Firstly the business a holistic view of organizational structures and the business enviroment to gain insights into the stakeholders, market structure, trends, and other existing business entities. Following this, managers can adequately align this knowledge with the organizations’ vision.  As a result, leaders can formulate and implement y firm-specific strategies, rigid framework, and viable strategies to solve complex problems.  At the same time, a strategic vision is born. A shared purpose, vision, and values steer the organization in the right direction and methodological approach of the business goals and mission.  A strategic form of leadership implies that leaders should abide by the right and also do the right things under any business. Industry-specific strategies enhance employee engagement, communication, and commitment that help the leader to make informed decisions that help the company stay afloat (Charles & Gareth, 2012).   It is also pertinent for the leader to have a broad understanding of the level of responsibility and accountability to drive change in an organization. Successful leaders make maximum use of the team works, systems, and organizational procedures to monitor and evaluate corporate activities to achieve an overall advantage.

Depending on the business objective, leaders play an integral role in transforming, creating, and maintaining an organization’s culture.   A leader must adhere to the organizational culture to ensure all implementation of the business mission and goal Peter Stroh’s decisions to purchase F&M Schaefer destroyed the cultural foundation of the business.  Abiding by the organizational culture creates a framework of business ethics throughout the lifecycle of the company (Gregory, McNamara, & Alan, 2018). In as much as rapid changes in the business environment requires leaders to make   to hasty decisions for business to salvage the business, leader should be cognizant of the magnitude and nature of the associated risks.

The process of adopting a new business plan requires a systematic approach guided by strategic objectives to overcome unforeseen barriers and avoid misuse of power. A leader should not solve a problem by exposing the organization to further risks. The liabilities and assets should strike equilibrium to ensure the survival of the business (Neil, 2011). Continuos implementation of the same strategies to maintain the status quo hampers the business goals.  It affects the fundamental processes, such as failure to meet the needs of the customers as well as reach their potential market. Despite the continuous fluctuations in profit and depression into debts, Peter Stroh imposed significant risks which deteriorated the problem.

The success of an organization often depends on how leaders fulfill the business objectives and overcome challenges. Effective leaders enhance communication between employees and encourage participation to allow their input in the decision-making process. Leaders should not make significant business decisions based on their work experience, educational background.  With the ongoing changes in market demographics, trends, and unpredictable markets, it is of paramount importance for a business to enact strategic leadership backed up firm-specific strategies to minimize the risks in an organization.

References

Charles, H., & Gareth, J. (2012). Essential of Strategic Management. Mason: SOUTH WESTERN CENGAGE LEARNING.

Gregory, D., McNamara, & Alan, E. (2018). Strategic Management Text and Caes. In D. Gregory, McNamara, & E. Alan, Strategic Management Text and Caes (pp. 1-800). McGaw-Hill Education.

Neil, R. (2011). Strategic Management. Retrieved March 2020, from Bookboon.