We've teamed up with the London School of Economics and Political Science (LSE) to bring its online MBA Essentials certificate course to its membership at a heavily discounted price. Here we look at the value of strategy and leadership for business success.
Strategy is closely aligned with leadership in that they both impact a company’s success or failure. Strategy cues leadership, and vice versa; it’s through leadership that strategy is executed. Strategic capabilities vary among leaders and businesses, however organisations need to have professionals who can develop and execute business plans. Below are the most common competencies expected from leaders and managers:
Leaders need to be equipped to analyse internal business aspects, including external economic trends and the general competitive landscape. Having a holistic overview, leaders need to select the best strategic positioning in the market.
Leaders need to be able to develop an operations plan in order to execute the above market strategy.
If the above is considered strategic execution, then this is considered strategic alignment. A leader needs to ensure that key processes, structure, culture, and metrics align with the go-to-market strategy as well as the operations plan.
As the business world becomes increasingly digitised, market changes will constantly call for business leaders to adapt and change accordingly. As one business component changes, leaders need to systematically assess how those changes will impact other business factors.
Leadership and strategy are MBA essential skills a business leader needs throughout their working journey. They are the conceptual frameworks that leaders depend on when planning to progress within their career.
Sun Tzu writes, "Victory in war is not repetitious but adapts in form endlessly". An MBA toolkit can prepare you for the ever-evolving business world. Leadership models and methods need to constantly adapt for each strategic business approach. Gaining these two imperative business management skills could be the difference between your defeat in the market, and succeeding in the business war field.IPA members can claim up to 15% discount on the LSE MBA Essentials Online Certificate course. Find out more now.