Strategic leadership is considered to be the life blood for an organisation. It helps them to take various decisions which can influence the business operations. This is needed for the success of company which will stay on long term basis. Stanbic Bank Ghana Ltd (SBGL) provides many types of services and uses strategic leadership in their working style. This report includes about the relationship between strategic management and leadership. It analyses impact culture and values on the leadership. Various requirements are discussed which have an impact on the strategies (Ang and Van Dyne, 2015). There are some current and emerging social concerns and expectations impacting on strategic leadership in the organisation. However, this report also analyses strategies to support organisational direction.
Strategic leadership is the term which is used to develop the vision, culture, structure for an organisation. This strategy influences the cited bank to follow all stated process in the better manner. On the other hand, strategic management formulating the goals and objectives for the company by top most management authority. There are various activities which are included in this process like, planning, monitoring etc.
There are some key differences between the two terms. Strategic management is the activity of making or planning the strategic plan. In this plan is made for gaining the success for the long term basis. Strategy which is made is in accordance with all the external and internal factors of environment which can affect the Stanbic Bank Ghana Ltd (SBGL). On the contrary, strategic leadership shows the process which can be used by the leader to achieve the various objectives and goals (Altman and Tushman, 2017). There are various policies and tools which are used to conduct the process of strategic leadership.
There are some senior managers in the organisation who handles various activities. Many roles and responsibilities are there which are to be fulfilled by the senior manager.
Conflicts arising for the senior managers
There are many conflict situations which are faced by the senior managers while fulfilling their responsibilities.
It states that administrative approach is better than the unilateral approach. Employees get satisfied when their advice or suggestion is taken in consideration by the senior managers. Unilateral approach will demotivate the workers. On the other hand, administrative approach will motivate the employees. To use this approach managers need to consider all the main information and suggestion.
Impact of individual's personalities on the approach taken to management and leadership
There are many personalities which are carried by the individuals in the cited firm. Some individuals have the trait of authorisation. They do not listen to advice of others. For example, this trait in the managers will make it difficult for the company to follow administrative approach (Ohlsson and Larsson, 2017).
Culture and value in the organisation are that factors which highly and deeply impacts the working style and business operations. Different cultures can be effectively analysed by using the management model of organisation culture by Handy. There are four types of cultures which are stated in this model. Those are as follows:
This states that task culture is used by the Stanbic Bank Ghana Ltd (SBGL).
Impact of culture on the strategic leadership
Culture of the company is that factor which can be manipulated or changed. It is based on the leaders and their abilities to take the strategic decision which will help them to maintain the culture. There are some leadership styles which makes the leaders to change the culture in accordance with the different situation which arises in the organisation. This makes the strategic leadership more effective and efficient.
Legal and regulatory requirements
There are many legal and regulatory requirements in the Stanbic Bank Ghana Ltd (SBGL). They must follow all the rules and regulations which are made in the different legislations and acts. Some of the acts are as follows:
There are many ethical standards which are to be followed in the banks. The banks should provide all the required information to the clients and should maintain the fair practice at the work place.
Impact of legal, regulatory and ethical requirements on the strategic leadership demands.
Leadership is not only the activity but it is the very big responsibility which is to be maintained by the leaders of the Stanbic Bank Ghana Ltd (SBGL). Decision of the leaders has deep impact on the business operations. Legal requirements make the leaders to keep all the laws and legislations in mind while making the decisions. Leaders should see that ethical standards are being followed in the cited company (Arnold and et.al., 2015). This states that all these legal and ethical requirements have various impacts on the strategic leadership.
All the businesses have to relate with all the issues which are social in nature. This issues are not in accordance with earning profits but they are beyond that.
Different social concerns are as follows:
Social concerns related to any kind of discrimination and maintaining the privacy is very much important in Stanbic Bank Ghana Ltd (SBGL).
Impact of social concerns and expectations on the strategic leadership.
Leaders of the cited company should consider all the concerns while formulating the strategic plan. They should follow that leadership style which will effectively make them manage all the social concerns and expectations. Leaders should see that all the ethical standards are followed in the organisation or not. It is the responsibility of the leader or manager to maintain and make that environment for the employees. This is done to handle all the concerns related to the society. This states that strategic leadership is impacted by the social expectations and concerns.
By this it is understood that there are various positive and negative impacts which these concerns have upon the strategic leadership (Anderson and Sun, 2017). Social concerns make the leaders of the cited organisation to make the environment which will be safe for all the employees. On the other hand, it has the negative impact when the leaders follow perspective of ethnocentric style.
There are different leadership theories which show the various styles. Those models or theories are as follows:
Leadership styles in relation with the belief
Leadership styles in relation with the control
There are many situations which occur in the Stanbic Bank Ghana Ltd (SBGL). It needs different leadership style to be used in each of the situation (Yahaya and Ebrahim, 2016). It is needed that leaders have efficient skills to cope with all the environmental condition. Styles which are used should be in accordance with the situations. Leaders of the cited company select their style in relation with the change in the demand. It is very important to give the sustainable business performance in every type of the situation.
For example, when the conflict situation arises in the firm, it is needed by the leaders to use autocratic leadership style. It will make the individual to resolve the matter in effective manner. Conflict arises between the employees because of some argument. In accordance with the autocratic style the leaders forces their decision on the workers solve the conflicted situation.
In the situation where the employees are in need to get motivated then paternalistic leadership style is used (Vito and et.al., 2014). It is very much effective in making the employees motivated. By this proper care and affection will be given to the workers.
Other than these there are various situations which arise in the Stanbic Bank Ghana Ltd (SBGL). Mainly leadership style of Laissez Faire is appropriate for the cited company.
Leadership styles are used to handle the different situations which arise in the company. This styles direct the leaders to adopt the method which will the best suitable for the business. Every firm wants that their goals and objective gets achieved. It will be only possible if efficient leadership style is used the leaders. The set and targeted goals of the Stanbic Bank Ghana Ltd (SBGL) will be achieved by using the most suitable style. It is because all the policies and procedures will be properly followed. The image of the company is shown to others in the market in accordance with the leader and the employees. It is only because leadership styles make better relationships at the work place. Leaders play the major role in directing the workers do some specific task, making the teams etc. The performance of the leaders is shown from the performance of the organisation which it gives (Wang and et.al., 2014). The performance of the cited company can only be effective and efficient when the leaders use the best and suitable leadership style.
Leadership strategies are the factors which show about the different procedures to interact with the employees and tell them about the vision and goals of the organisation. It is very much essential to make the effective and proper leadership strategies, because it helps the company in the activities of motivation, inspiration etc. Strategic leadership is the most important method to communicate the goals and objectives of the business among the members. It will lead the cited firm to the achievement of their all set and desired goals.
There are many leadership styles which can be used in the Stanbic Bank Ghana Ltd (SBGL). Those are described below:
Leadership is the activity which is always based upon the situations. It is upon the leader that what leadership style is chosen in relation to the various situations. Leaders of the Stanbic Bank Ghana Ltd (SBGL) should be prepared to face any kind of condition by using the effective leadership strategy. Facing the different situation shape the behaviour of the individual and increases the skills and knowledge (Hill and et.al., 2014). There is one theory which is based upon the situational variables. That theory is known as the contingency leadership. It includes many elements which are essential for the leadership. Some models are included in the theory of contingency. They are path goal, situational leadership, leaders substitute etc. Path goals model show that leadership is very much influential for the team performance. The variable in this theory are the task on which basis teams are formed, and the members who are included in the team. Situational leadership model shows the different situations which occurs in the company. The variables of this theory are gets regularly changed. It is because every situation needs different variables. On the other hand, in the leader substitute model another leader is appointed in the absence of the permanent one. The variables which are included in this theory are the skill of the persons in leading the company in the absence of leader. This states that every different situation of Stanbic Bank Ghana Ltd (SBGL) needs the different variables to be used. These can bring the change in leadership strategy.
The internal and external situations which can bring change in the leadership can be in relation with conflicts, competition, change in structure etc.
Every organisation is in need of that leadership strategy which will be the best for them. They want that strategy which will help them to achieve all the goals and objectives which are targeted or set. The leadership strategy should be in that way which makes the employees to work hard in any type of situation. It is very much essential to gain the competitive advantages and increase the market share of the company. The leadership strategy which is best suited for the Stanbic Bank Ghana Ltd (SBGL) is transactional. This will make an organisation to give rewards and punishments in accordance with performance of the employees. It will help the leaders to maintain the stability at the work place. This will inspire and motivate all the workers to give better performance in relation to gain rewards. It is very effective in making proper relationship between the leader and other members. The employees will follow all the rules which will be made for them in accordance with the transactional leadership strategy. It will shape all activities which are to be performed by the cited organisation.
This report concludes that leadership is very much important activity in any type of the organisation. It makes the company to achieve all the goals and objectives in the effective manner. There are many elements which influences the leadership activities. Those elements can be cultures, standards, values etc. The leader should have effective and efficient skills to make the proper strategy which will be suitable for the business. There is a relationship between strategic leadership and the management. There are some legal and ethical requirements which are to be followed by the company. These requirements impact the strategic leadership demand. This term is also impacted by the social concerns and its expectations. There are many leadership styles which can be used to make the effective strategic decisions. Different style is needed to be adopted in various situations which occur in the environment of the firm. The leadership style which is the best suitable for the Stanbic Bank Ghana Ltd (SBGL) is Laissez Faire style. Two different strategies of the leadership are evaluated and analysed. Those are transactional and transformational. Leadership is the activity which never remains same, it always changes. That's why different situational variable are needed. This can cause some change in the leadership strategy. The strategy which is suitable for the cited company is transactional. This states that all the elements of the leadership are too kept in mind by the leader while making the strategy.
Books and Journals
Altman, E. J. and Tushman, M. L., 2017. Platforms, open/user innovation, and ecosystems: A strategic leadership perspective. In Entrepreneurship, Innovation, and Platforms(pp. 177-207). Emerald Publishing Limited.
Anderson, M. H. and Sun, P. Y., 2017. Reviewing leadership styles: Overlaps and the need for a new ‘full‐range’theory. International Journal of Management Reviews, 19(1), pp.76-96.
Ang, S. and Van Dyne, L., 2015. Handbook of cultural intelligence. Routledge.
Arnold and et.al., 2015. Leadership styles, emotion regulation, and burnout. Journal of Occupational Health Psychology, 20(4), p.481.
Buble, M., Juras, A. and Matić, I., 2014. The relationship between managers’ leadership styles and motivation. Management: journal of contemporary management issues, 19(1), pp.161-193.
Hill and et.al.,2014. Strategic management: theory: an integrated approach. Cengage Learning.
Johnson, G., 2017. Exploring strategy: text and cases. Pearson.
Joyce, P., 2016. Strategic Leadership in the Public Sector. Taylor & Francis.
Nanjundeswaraswamy, T. S. and Swamy, D. R., 2014. Leadership styles. Advances in management, 7(2), p.57.
Northouse, P. G., 2015. Leadership: Theory and practice. Sage publications.
Ohlsson, A. and Larsson, G., 2017. EMOTIONS IN STRATEGIC LEADERSHIP: A LITERATURE REVIEW AND THEORETICAL MODELLING FOR FUTURE RESEARCH DIRECTIONS. International Journal of Organization Theory & Behavior (PrAcademics Press), 20(3).
Plante, J. D. and Truitt, J. H., 2018. LEADERSHIP STRATEGY. Strategic Leadership, p.261.
Saeed and et.al., 2014. Leadership styles: relationship with conflict management styles. International Journal of Conflict Management, 25(3), pp.214-225.
Strand, R., 2014. Strategic leadership of corporate sustainability. Journal of Business Ethics, 123(4), pp.687-706.
Wang and et.al., 2014. A meta-analysis of shared leadership and team effectiveness.
Yahaya, R. and Ebrahim, F., 2016. Leadership styles and organizational commitment: literature review. Journal of Management Development, 35(2), pp.190-216.
12 Different Types of Leadership Styles. 2017. [Online]. Available through:http://wisetoast.com/12-different-types-of-leadership-styles/
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