In the current business market, many organisations have been required to keep up with the robust changing factors affecting the business market, formulate strategies as situations arises, recruit and dismiss leaders and managers with stipulation that they will change and inspire the organisations to get the best of the current and future of the business.
This paper will mainly focus on Mattel’s strategic management and leadership. Mattel is the world’s largest toy company. It will seek to explain what is strategic management and leadership and reveal the link between the two subjects. There has been a lot of debate by authors and business people who seek to understand, differentiate and link strategic management and leadership. Strategic decisions are very important in regards to the growth and development of any organisation and this would differ according to the different leadership styles and management. It will also evaluate the impact of different leadership styles in reference to different situations. The different theories of management and leadership will also be evaluated in this paper considering their impact on formulated strategies of an organisation. It concludes by planning and giving recommendations of Mattel’s leadership skills in conjunction with the situation the organisation has been going through.
Strategic Management and Leadership
Strategic management and leadership are vital and key to the success of any business. Main focus is on good leadership, efficient and effective management. Very often, strategic management and leadership are used interchangeably despite the fact that they have different meaning.
a) Strategic Management
Strategic management is a set of actions and decisions which result in formulating and implementing of organisational strategies intended to attain the goals and objectives of an organisation (Adair 2010). Strategic management is responsible for processing and co-ordinating the technological,...