The Importance Of Organizational Strategy

“An organizational strategy is the sum of the actions a company intends to take to achieve long-term goals (Johnson, 2016)”. Organizational strategy is derived from a company 's mission, which tells why an organisation is in business. There are three important aspects of organizational strategy such as resources, scope and the company’s core competency (Johnson, 2016). As Johnson (2016) postulated that top management produces the larger organizational strategy, while middle and lower management adopt goals and plans to satisfy the overall strategy. Germano (2010) states that leadership has a significant impact upon organisation and its success, whereby leaders determine values, culture and employee motivation. Additionally, he further added

In this regard, leaders and managers can appear at any level of an organisation and are not exclusive of each other (Germano, 2010). Leadership theories identify leaders based upon traits as well as how their influence and power is used to achieve organizational goals and objectives (Germano, 2010). As such, trait based characteristics include leaders such as autocratic, democratic, bureaucratic and charismatic. On the other hand, leadership that is viewed from the perspective of the exchange of power and its utilisation to secure outcomes, are situational, transactional and transformational leaders (Germano, 2010). It is of paramount importance to consider the different types of theories of management and leadership and their potential impact on organizational strategy being that management and leadership plays a vital role in the success of businesses. This paper will be discussing CIBC FirstCaribbean International Bank organisational strategy to ascertain which theories impacts the

This model states that in this 21st century, it is impossible to rely on one management style to fit all situations (Educational-business-articles.com, 2016). In other words managers and leaders must be flexible, in order to get the best result out of their teams and individuals. In addition, this theory allows management and leadership to be able to identify and accurately diagnose the situation and vary employees’ behavior accordingly to the situation (Yukl and Mahsud, 2010). This will enable management and leadership at CIBCFCIB to select appropriate types of leadership behavior for each type of situation. Moreover, another impact that this theory has on organizational strategy whereby Charismatic leaders at CIBCFCIB can minimize various types of behaviour by increasing competent employees. For example, selecting experienced employees and delegate authority to them for resolving problems (Yukl and Mahsud, 2010). This will lessen the stress of management and leadership to guide the team effectively towards accomplishing the organisational