Competitive Advantage over other firms – Unique Resources and Capabilities Bower’s Vision – Development of Unique Organizational Culture First Mover Advantage Between Marvin Bower, Ron Daniel, and Fred Gluck, who was the most effective strategic leader? Why do you think so? Upon evaluating each individual’s strategic leadership ability based upon the six elements of effective strategic leadership, we concluded that Fred Gluck was indeed the most effective of the three individuals. The six attributes which a strategic leader can be compared against are listed below. We found that Fred Gluck’s contributions were more pronounced in elements 1 through 4, and where there was not enough material in the case to …show more content…
Financial Perspective McKinsey was highly effective during the 1990’s in respect to financial performance. After Fred Gluck’s change in strategic direction, McKinsey was able to double revenues to an estimated $1.5 billion during his six year term as Managing Director. This type of sizeable growth had not been seen since the early years of the firm when it was under direction of Marvin Bower. McKinsey was able to compete with BCG through Gluck’s change in strategy and win back clients and skilled recruits. Customer Perspective With respect to the Balanced Scorecards customer perspective, McKinsey was performing extremely well. This was evident in the Jeff Peters case where his three person team was able to work with a highly respected financial services company in Sydney, Australia. They were able to have a strong client impact and added value to their client because of their access to knowledge, intellectual rigor and their ability to build understanding and consensus among a diverse management. Their client was extremely satisfied with their recommendations and believed that any failures would be due to the client’s own fault. By adding more value to their clients and increasing client satisfaction with the work McKinsey consultants provided, the client base grew thus leading to better financial performance. Internal Business Processes In each of the three mini-cases, McKinsey effectively used
There is a great importance put on business leadership, this is directly due to how a business not only functions but in how fruitful the company can become. A great leader essentially can take a business plan that is weak yet turn it into a success, whereas a poor leader stands a higher chance of ruining the best of business plans. That is why it is essential to develop effective leadership throughout a companies entire management program at all levels. How does one develop or retain strong leadership? Companies must be focused on hiring strategies that encompass very specific parameters, building from within whilst creating a strong foundation for employee development and succession planning. Leadership is essential in any organization. The style and theory embraced determines whether the company will or will not achieve their goals. in all cases theory must be embraced, as a companies theory, style, and strategy is greatly dependent on the industry the company is in (Sadler, 2014). “The behavioral theory is one of the widely used theories of management. It suggests that leaders are made and not born. It gives room for training to install leadership traits in leaders at the expense of denying them a chance. There are various leadership styles embraced by companies (Cyert, & March, 2005).” This paper takes a look at the management styles of two specific
What follows is my own personal accounting of leadership qualities and traits seen in Gary Folger that have helped shape me throughout my career. These qualities will be examined using the Five Practices of Exemplary Leadership found in the Kouzes and Posner book, The Leadership Challenge: How to Make
Effective leaders opt to implement a specific type of leadership style as a result of their personalities and job experiences, and apply it to their organizational structure. However, that particular type of leadership style a leader utilizes may not apply to every job situation (Peak et al., 2010). In order to be an effective leader, an individual must acquire the three basic leadership skills and they are as follows: (1) human relations; (2) conceptual skills; and (3) technical skills (Haberfeld, 2013). Additionally, a skillful leader must also be proficient in motivating, communicating, and problem solving (Hess & Orthmann, 2012).
Balanced Scorecards positively impact in the business development of a company with an effective application of company values to sway customer perspective ADDIN EN.CITE Morgan2002317(Morgan &
Of the three factors discussed above, strategic leadership holds the most potential to effectively influence the
During 2010, Chuck Follett the great grandson of CW Follett and son of Laddie(Charles Sr) was promoted to CEO after Traut retired.(Follett Corporation, 2011).
Chick fil A takes pride in their corporate strategic focus, they strongly believe customer is the king and they differentiated themselves among all the quick service restaurants. Appraising the effectiveness of chick fil A strategic leadership is based on 3 core values. I am going to discuss the effectiveness of Cathy and his sons in their roles as strategic leaders of the organization below:
Holistically, in order to determine what makes an individual an effective leader or a misleader, one must first understand the aspects of leadership. While it is impossible to condense what makes a leader into a short list of qualities and ideas, for the intent of this paper, the comparative aspects of leadership will be limited to: character, skills/talent, and results.
From some additional research on the subject of leadership I uncovered an interesting article that was written by Kevin Kruse (built and lead several multi-million dollar tech companies) that outlines “The 3 Levels of Leadership Used by the U.S. Army”. Kevin Kruse elaborated within the article “strategic leaders are focused, understanding the context of the current environment, evaluating the long-term impact of choices and setting the strategic direction
The topic of this paper will not be to define strategic leadership, and but perhaps more importantly identify the top five characteristics of strategic leaders in leadership roles in general, not just military or business settings. This paper will address the difficulty in defining strategic leadership by narrowing down a specific set of qualities or characteristics required to lead in that position. Since there is no definitive definition for strategic leadership and the focus will turn to what qualities belong to a strategic leader and thereby find the very elusive definition so many who are called upon to lead "strategically" desire.
McKinsey & Company was founded in 1926 as the Accounting and Engineering Advisors and it grew rapidly. The case describes the steps taken by McKinsey & Company to transform the firm into "snowball makers" and "snowball throwers."
McKinsey & Company is a privately owned management consulting firm that focuses on solving issues of concern to senior management in large corporations and organizations. Known among its employees simply as "The Firm" McKinsey & Company was founded in Chicago in 1926 by James O. ("Mac") McKinsey. McKinsey was a professor at the University of Chicago who pioneered budgeting as a management tool. Marshall Field's became a client in 1935, and soon convinced James McKinsey to leave the firm and become its CEO; however, he died unexpectedly in 1937.
According Quong & Walker, (2010) strategic leadership is based on seven perspectives. The principles include orientation to different futures, Evidence basis and research orientation, Tendency to get things done, openness to new horizons, value and commitment to partnership, focus on making the next thing right and possession of leadership skills such as stress management and physical ability. HBR (2013) adds that the basic skills of a strategic leader are anticipation for the future through an analysis of a problem, the ability to challenge the existing and encourage different views, interpret everything that happens, learn from their experience and that of others and align themselves to those with similar
Accenture is a well-known global management consulting, technology services and outsourcing company. It was consolidated 47 country partnerships into one corporation and its headquarters in Bermuda. Accenture still remained profitable even during the period of the financial crisis between 2002 and 2003. Accenture had developed a new strategy which focusing on outsourcing and its organizational structure gradually evolved in early 2005, which includes five operating groups, 18 industry groups and eight capability groups. There are several changes of personnel at Accenture. In 2004, Bill Green took office as CEO, the Accenture’s primary decision-maker and policy maker of Accenture. Tom Barfield began to work on the learning and
The purpose of this paper is to reflect and make an analysis of the general strengths and weaknesses of a leader, provide recommendations, thoughts of overall performance to improve on this person’s leadership style in which practices and theories were utilized most effectively. Upon such, draw conclusions and provide an integration of this leadership practice into my own leadership practice. The accomplishment of this will be achieved by identifying several key practices from published documents surrounding and encompassing the leader, and comparing them to known relative concepts for a holistic view of the approach.