MBA718 Strategic Leadership and Practice: Strategic Decision Making

MBA718 Strategic Leadership and Practice: Strategic Decision Making

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MBA718 Strategic Leadership and Practice

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This paper analyses the art of strategic decision making. It first discusses the theory that underpins decision making by top management in the organisation. It explains in detail how the three leadership styles, visionary, managerial  and  strategic  impact  decision  making  in  an  organisation.  It  is reported that some traits and characteristics influence decision making. The paper highlights the impact of attributes such as age, personality, experience, expertise, position in the organisation and propensity to risk will affect the leader’s ability to make decisions. It expands on characteristics discussed by other philosophers as influencing strategic choices such as marital status and gender.  These are  some of the  modern theories on strategic leadership and decision making.  

Nonetheless,  strategic  leadership  is  vital  for  strategic  decision  making because of the strength of having a short and long term focus on organisational objectives and goals.  Management needs to be  aware of the various characteristics that influence decision making and develop deliberae structural  frameworks  that  derive  optimal  results  from  the  aspects.  For instance, the experience of employees is critical in decision-making, but an organisation that only employees or have highly experienced employees may indicate that they have a concentration of mature employees. They may be missing out on not having a mix of young, not so experienced leaders. Such a  team  may  be  more  conservative  than  risk-taking  or  may  not  quickly 

respond to innovation.  

The  paper  then  closes  by  applying  the  theory  to  a  real-life  example  of  a decision recently taking in my organisation. The example given reveals some of the characteristics that influence the decision. It shows that my organisation is adequately calibrated to make effective strategic decisions.  

    

2.0 Top management and the strategic decision-making process  

2.1 Top Management and decision making  

  

Top  management  represents  organisational  leaders  that  are  responsible  for controlling and overseeing the whole organisation. Top-level management is responsible for developing goals, strategies, plans, policies, deciding on the direction  of  the  business  and  mobilising  external  resources  such  as  debt instruments or other forms of capital. Leadership is a process of continuous influence  between  leaders  and  followers  through  which  objectives  are achieved through change (Lussier and Achua, 2015). Meaning it is through leadership  that  employees  are  motivated  to  achieve  organisational  goals (Daft  and  Lane,  2008).  Additionally,  it  is  imperative  that  decision  making becomes a critical component in the success of any organisation. Top-level management decisions are three-fold cascading from strategic to tactical and operational  decisions.  Effective  implementation  of  any  of  these  decisions rests on the leadership style adopted by an organisation.  

 

An  individual’s  assessment  of  risk  and  the  likelihood  to  take  risk  will influence strategic decision making. By nature, some people are risk-takers, while others are risk-averse. Singh  Amarjit  and  Jampel  Gempo  (2010)  argued  that  becoming  older amongst  engineers  resulted  in  making  less  risky  decisions  with  a  desire  to avoid  conflict.  This  is  a  view  shared  by  many  phycologists  who  state  that ageing  may  affect  decision-making  performance  and  sometimes  leads  to  a reduction in cognitive functions.   

 

Position in the organisation may mean power. The more position power and control the easier it is to lead and communicate the vision to the employees. At  whatever  level  a  manager  is  operating  in  the  organisation,  operational, tactical  or  strategic; they  ought  to  have  adequate  position  power  to  ensure that they carry out their leadership roles effectively.  The final action plan had the following key milestones Build  internal  capacity  on  green  finance  and  climate  change  through training, workshops, research, and collaboration with other regulators.  

Prepare  a  concept  note  explaining  the  need  for  commitment  to  the Sham El Sheik Accord of September 2017 on green finance and climate change. Subject the concept note to peer review. Seek support from sponsoring departmental head Present the concept paper to the Executive. Present  concept  paper  to  seek  endorsement  from  the  Ministry  of Finance. 

Discuss the concept note with the private sector, including associations such as the Bankers Association of Zambia (BAZ) and Zambia Chamber of Commerce and Industry (ZACCI). Develop  the  Bank  of  Zambia  Policy  on  Climate  Change  and  Green Finance.

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