Strategic and causing accommodating accomplishment to attain their

Strategic Management

Wheelen and Hungercited in (SINGH, 2013) describe strategic
management as “that set of managerial decisions and actions that determine the
long-run performance of a corporation. It includes environmental scanning (both
external and internal), strategy formulation (strategic or long-range planning),
strategy implementation and evaluation and control”.

Strategic management is a process which organization’s vision and
objectives to desire levels of achievement; determine on actions for attaining
these objectives in a fitting time-scale, and habitually in a varying
environment; implements the actions and evaluates improvement and results. The
actions may be changed or modified the necessary of whenever and wherever. The
magnitude of these changes can be affected and radical, or more gradual and
evolutionary. (Thompson & Martin, 2010)Strategic Management
involves the analyses, decisions, and actions an organization which assumes in
order to create and sustain competitive advantages. (Dess, Lumpkin, & Eisner,
2007)

Leadership

            Leadership is the art of motivation
for the followers and improving their performance towards accomplishing a
common objective. (Ward, 2017)   Leadership is the procedure of giving aim of
way to combined aspiration, and causing accommodating accomplishment to attain
their aim. (Gold, THorpe, & Mumford,
2010)Leadership
performs their environment to sustain and know their organization and show the
way. Leader can help individual follower to improvement, preserve positive
attitude and aspire to improve additional leaders in the next generation. (Caramela
& Writer, 2017)

The link between strategic management
and leadership process

            The purpose of strategic management
process is environmental scanning, formulation, implementation and control of
strategies that result in long-term accomplishment of the organization’s mission
and near-term accomplishment of objectives. Leadership concerns how willing the
strategist is to depute authority and improve the appropriate types and levels
of control. The right ambiance of leadership style is necessary to reinforce
the strategy.

(1)  
Environmental scanning is the monitoring and disseminating
of information from the internal and external environment through SWOT analysis
(strengths, weaknesses, opportunities and threats) that are strategic factors. Leader
performs the internal environment consists of strengths and weaknesses within
the organization and the external environment consists of opportunities and
threats outside the competitor organization.

(2)  
Strategy formulation includes developing a vision, mission
and objective. Strategy determines long-term competitive advantages. Leader is
responsible for improving a climate contributory to the mission of the
business.

(3)  
Strategy Implementation is the activity level of strategic
management. Leader’s ability to motivate subordinates is depended by successful
implementation. Without implementation, strategy formulation of purpose is
useless.

(4)  
Strategy Evaluation and control is the final main level in strategic
management which process to collaborative activities and performance outcomes
are monitored by the leader. Leader can be viewed in terms of the nature of
motivation, decision, communication, and control method and the development of
a corporate. (SINGH, 2013)

(1.2) Leadership Style

Three main heading
of leadership styles are autocratic, democratic and laissez-fair.

Autocratic leadership style

Autocratic
leadership style is only
manager has power and authority to determine decision-making for all procedure.
Subordinates must be followed leader’s decision without their idea participated. (Mullins,
2010)Positive
impact of autocratic leadership is amazingly efficient and quick decision which
likes as centralized with the leader and complete control to subordinates. Negative impact of autocratic leadership that
is subordinates will perceive strangled and aggravated as they are working
under leader’s opinions and decision whether it should be or not. Subordinates
have no improvement of creative idea, less of motivation and self-confidence. (Parikh, 2016)

Democratic Leadership Style

Democratic leadership style is that final decisions have been decided by leader
but with consist of group member’s decision-making and ideas involvement. Group
members were engaged in work of great importance and they aid creative idea. Positive
impact of democratic leadership is members are motivated and satisfied to work
in the organization and their skill is developed to involve in the process. Negative
impact of democratic leadership is team members can waste the value time which
is longer decision to implement. (Amanchukwu, Stanley, & Ololube, 2015)

Laissez-Faire Leadership Style

            The manager totally permits the
freedom of decision to team members as they are operating the perfect level on
their own. The manager don’t interfere their decisions but manager support if
they need the idea. (Mullins, 2010)Benefit
of laissez-faire leadership style which leaders feel confident and trust their
subordinates are highly skill and motivated to accomplish the goals.
Subordinates manage their time well and have the knowledge they need to
complete. (Cherry, 2017). Subordinates don’t
respect the leaders who are not supporting in the whole process. Subordinates are
missing to face decisions that truly belong with the leaders. (Chaudhry & Javed, 2012)

(2.1) Leadership Theories

The most
common of leadership theories are

1.     
Great
Man Theory (Carlyle, 1840),

2.     
Trait
Theory (Stogdill, 1974),

3.     
Behavioral
Theory (University, 1940),

4.     
Contingency
Theory (Fiedler, 1960),

5.     
Transactional
Theory (Weber & Bass, 1970),

6.     
Transformational
Theory (Burns, 1978) (Bass, 1985) ,

7.     
Situational
Theory (Paul Hersey & Kenneth Blanchard, 1970),

8.     
Psychoanalytic
Theory (Frued, 1922),

9.     
Political
Theory (Barlow, 1981)

10.  Humanistic Theory (McGregor, 1960)

TMW
Enterprise Limited is applying transactional, transformational and situational
leadership style.

Transactional
Leadership

The transactional leaders do not focus on employee’s individual improvement
and leaders concern with the achieved of the purpose and attained of the successful
performance. Transactional leaders are contribution rewards for positive
performance and punishment for negative performance. (Yahaya,
Rusliza; Ebrahim, Fawzy;, 2016) Three components of
transactional leaderships are as follows;

1)     
Contingent reward, which is the procedure of frame expectations
and rewarding employees for meeting them.

2)     
Passive management by exception, where a leader does not react the
employees’ mistakes and difficulties unless a problem arises.

3)     
Active management by exception, in which a leader systematically monitor
performance to employees and corrective actions for problem solving when a mistake
occurs. (Spahr, 2016)

 

 (2.2) Brief Introduction of the Organization

            TMW Enterprise Limited is
established in 1992, which is located in No.90 (A/B), Kabar Aye Pagoda
Road,Bahan Township, Yangon, Myanmar. TMW Enterprise Limited has six business
portfolio such as (1) Professional/Consumer Electronics and Home Appliances
(SONY, LG, T-Home, OTO Bodycare), (2) Luxury Tiles and Bathroom Accessories
(INAX, T-Home), (3) Multi-brand Electronics and IT Retail Chain Stores (Wai Yan
Electronics), (4) Real Estate (MyaYamon Water-front Villa), (5) Music and Movie
Production and Distribution (Excellent Creation), (6) Hotel and Resorts (Sunny
Paradise, Dream Paradise and Ocean Paradise Hotels at NgweSaung Beach). There
are about 2,000 employees working and their contact phone numbers are
+95-1-546002~8, 400775, 401415, 400771, 400772.

            TMW Enterprise Limited has been
operating both autocratic and democratic leadership style. Autocratic
leadership style is managing on managerial levels who are sale persons and
operation staffs who don’t take ideas or decisions