Leadership and Management Behavior in Multinational Companies
- What is Strategic Leadership? Strategic leadership is the management’s ability to apply strategy to envision and govern the future courses of action and motivate members of the organization to increase their productivity and effort for its development. It is an effective management strategy in caring deeply about defining and focusing on the future.
- What would constitute critical strategic leadership actions? What are the key elements of a ‘Balanced scorecard’? Strategic leaders’ actions comprise managing all the functions and members of the enterprise to strive to achieve the greatest possible results while adapting to the market’s strains and fluctuations. Key strategic leaders aim to inspire associated members to perform efficiently and influence human behavior to bring out better opportunities for success without compromising its financial stability. A strategic leader should develop strategic competitiveness and ensure effective company operations for its future viability in the global market. They should be able to translate their strategies into action as they build and maintain a constructive work culture. Strategic leadership involves building values such as corporate social responsibility where corporate development must be accompanied by social responsibility. Elements of a Balance scorecard include Internal Business Processes. A company should have a balanced view of its management and evaluate its operational goals, viewing the business processes and how it is running. Customer Perspective is the aspect of the customer’s view of the company. A firm should be able to use its extensive customer network to assemble data to forecast future customer needs and demand and how the enterprise interacts with its customers and their perspective. Financial Processes arises from the stakeholders’ point of view, viewing the company as a profit-making firm. It covers the practices of the business from a financial point of view. Learning and growth involve a company’s capacity to improve, innovate and create value to help members perform effectively in their roles.
- How has Cheung Yan seen success as a strategic leader? What are the qualities she possesses? Having been ranked as one of the world’s richest women, Cheung Yan has been described as a successful and driven leader. Her success has attributed to her company ‘Nine Dragons’ competitiveness in the economies of scale and the lower costs associated with it. Chueng’s entrepreneurial mindset saw that the Hong Kong market was too limiting for her ambitions and visions. Therefore, she decided to move to America to increase the growth of her business. At this particular time, she barely had any English knowledge, but her focus on her dream helped her overcome this challenge. She had a clear vision and strategy to make Nine Dragon the biggest, most efficient, and environmentally friendly paper company globally. In which she achieved as the company had consistent growth in turnover and profits over the years. Her company grew as one of the leading paper companies following her considerable effort, ambition, and determination. Unlike many family-owned companies in Asia that have diversified, Chueng specialized in only one field: paper products and the paper market. She professionally ran her company without adopting the usual heavy-handed family management. She worked with her husband and brother, who were Co-Founders. Cheung was strategic and supported government policies creating a good rapport between her and the government; hence she benefited from preferential government policies such as tax cuts, contributing to her success. She could outperform her rivals due to her competitive aggressiveness and supported innovation being open to new ideas and creative processes. As summarized above, some of the other leadership qualities she possessed included endurance, discipline, being open-minded, future-focused innovative, risk-taking, passion, and self-control.