MBA - N.DINESH - VUCA - Unit 5 - Enotes
MBA - N.DINESH - VUCA - Unit 5 - Enotes
VUCA MANAGEMENT
III SEMESTER
Presented By
N.DINESH
Dept of Management Studies
D.N.R.College Bhimavaram- 534202
Phone: 08816-224119
E mail: [email protected]
Website: https://dnrcollege.org/en/
CP - 302, VUCA MANAGEMENT
(Effective from the admitted batch of 2019 -21)
MBA III SEMESTER eNOTES
CORPORATE GOVERNANCE
4. Duties of directors
The corporate governance reports have aimed to build on the director’s duties as
defined in statutory and case law duties of directors
These include the fiduciary duties to act in the best interests of the company, use their
powers for a purpose, avoid conflicts of interest and exercise a duty of care.
STRATEGIC LEADERSHIP
Strategic Leadership is the ability of influencing others to voluntarily make decisions that
enhance the prospects for the organization’s long-term success while maintaining long-
term financial stability. Different leadership approaches impact the vision and direction of
growth and the potential success of an organization. To successfully deal with change, all
executives need the skills and tools for both strategy formulation and implementation.
1.Distribute responsibility: Strategic leaders gain their skill through practice, and practice
requires a fair amount of autonomy. Top leaders should push power downward, across the
organization, empowering people at all levels to make decisions. Distribution of
responsibility gives potential strategic leaders the opportunity to see what happens when
they take risks. It also increases the collective intelligence, adaptability, and resilience of
the organization over time, by harnessing the wisdom of those outside the traditional
decision- making hierarchy.
2.Be honest and open about information: The management structure traditionally
adopted by large organizations evolved from the military, and was specifically designed to
limit the flow of information. In this model, information truly equals power. The trouble is,
when information is released to specific individuals only on a need-to-know basis, people
have to make decisions in the dark. They do not know what factors are significant to the
strategy of the enterprise; they have to guess. And it can be hard to guess right when you
are not encouraged to understand the bigger picture or to question information that comes
your way. Moreover, when people lack information, it undermines their confidence in
challenging a leader or proposing an idea that differs from that of their leader.
3.Create multiple paths for raising and testing ideas: Developing and presenting ideas is
a key skill for strategic leaders. Even more important is the ability to connect their ideas to
the way the enterprise creates value. By setting up ways for people to bring their innovative
thinking to the surface, you can help them learn to make the most of their own creativity.
This approach clearly differs from that of traditional cultures, in which the common
channel for new ideas is limited to an individual’s direct manager. The manager may not
appreciate the value in the idea, may block it from going forward and stifle the innovator’s
enthusiasm. Of course, it can also be counterproductive to allow people to raise ideas
indiscriminately without paying much attention to their development. So many ideas, in so
many repetitive forms, might then come to the surface that it would be nearly impossible to
sort through them. The best opportunities could be lost in the clutter.
DNR COLLEGE DEPT OF MANAGEMENT STUDIES Page 4
4.Make it safe to fail: You must enshrine acceptance of failure and willingness to admit
failure early in the practices and processes of the company, including the appraisal and promotion
processes. For example, return-on-investment calculations need to assess results in a way that reflects
the agreed-upon objectives, which may have been deliberately designed to include risk. Strategic
leaders cannot learn only from efforts that succeed; they need to recognize the types of failures that
turn into successes. They also need to learn how to manage the tensions associated with uncertainty,
and how to recover from failure to try new ventures again.
5.Provide access to other strategists: The first step is to find them. Strategic leaders may
not be fully aware themselves that they are distinctive. But others on their team, and their
bosses, tend to recognize their unique talents. They may use phrases like “she just gets it,”
“he always knows the right question to ask,” or “she never lets us get away with thinking
and operating in silos” to describe them. A good way to learn about candidates is to ask,
“Who are the people who really seem to understand what the organization needs — and
how to help it get there?” These may be people who aren’t traditionally popular; their
predisposition to question, challenge, and disrupt the status quo can unsettle people,
particularly people at the same level.
9.Find time to reflect: Strategic leaders are skilled in what organizational theorists Chris
Argyris and Donald Schön call “double-loop learning.” Single-loop learning involves
thinking in depth about a situation and the problems inherent in it. Double-loop learning
involves studying your own thinking about the situation — the biases and assumptions you
have, and the “undiscussables” that are too difficult to raise.
For example, a company's core competencies may include precision mechanics, fine
optics, and micro- electronics. These help it build cameras, but may also be useful in
making other products that require these competencies.
1. Greatest Quality Products: This core competency means the company's products are
most durable, long-lasting, and most reliable. The company will likely have invested
in the strongest quality control measures, technically proficient workers, and high-
quality raw materials.
2. Most Innovative Technology: This core competency means the company is an
industry leader in its sector. The company will likely have invested heavy amounts of
capital into research & development, holds many patents, and hires experts in
respective fields.
3. Best Customer Service: This core competency means customers have the greatest
experience during (and after) their purchase. The company will likely have invested in
training for staff, large numbers of customer service representatives, and processes to
manage exceptions or issues as they arise.
4. Largest Buying Power: This core competency leverages a company's economy of
scale. This company will likely have invested in mergers or acquisitions and have
built up strong relationships with vendors to gain favorable pricing or service.
5. Strongest Company Culture: This core competency promotes the internal
atmosphere of the business. The company aims to attract the best talent by investing
heavily in employee recognition, development, or collaborative, fun events.
6. Fastest Production or Delivery: This core competency means the company is able to
make or ship items the fastest. The company will likely have invested in connected
software systems as well as production processes and distribution relationships.
7. Lowest Cost Provider: This core competency means the company charges the lowest
price among comparable goods. The company will likely have invested in the most
efficient processes the reduce labour or material input.
8. Highest Degree of Flexibility: This core competency allows the company to quickly
pivot in response to business opportunities or challenges. The company will likely
have invested in cross-training across employees or nimble software solutions.
II. Essays