| ranjit_rana109 |
Posted
on 13-Jun-04 08:37 PM
Entrepreneurship should not be the province only of those who have the organisational patience and ability to set up from scratch every bit of the infrastructure that a new business needs.
Norman McCrae
Associate Editor, The Economist
The Economist, December 25, 1976
* Effective strategic leadership is required to use the strategic management process successfully, including the strategic actions associated with the implementation of strategies (BING-FA). Strategic leadership entails the ability to anticipate events, envision possibilities, maintain flexibility and empower others to create strategic change.
* Top executives are an important resource for firms to develop and exploit competitive advantages. In addition, these strategic leaders can be a source of competitive advantage.
* The top management team is composed of key managers who formulate and implement strategies. generally, they are officers of the corporation or members of the board of directors.
* There is a relationship among top management team's characteristics, a firm's performance. For example, a top management team that has significant marketing and R&D knowledge often enhances the firm's effectiveness in the implementation of growth strategies. Overall, most top management teams are more effective when they have diverse skills.
And much much more.
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