" It is possible and fruitful to identify major events that have already happened, irrevocably, and that will have predictable effects in the next decade or two. It is possible, in other words, to identify and prepare for the future that has already happened " (Peter Drucker, 1997) By regularly exploring suitable and novel/modern strategic leadership practices presently undertaken by futurist organisations, the author suggests that there is a possibility to classify and comprehend practices that will be useful for the coming century. Strategic leadership in future might be the single most crucial factors affecting organisations. Discounting Novel strategic leadership, the chances of a company accomplishing finer or reasonable show when facing the hardships of world-wide financial system will be significantly condensed. Global economy i.e. world-wide financial system is a key immutable affair whose subsistence in present day scenario has majorly affected strategic leadership practices and give ideas related to practices that must be used in the upcoming events.( R. Duane Ireland and Michael A. Hitt, 2005) In Addition, The need for strategic leadership is not a new concept and has been in existence since early 1980's (Due to time constrains and limited availability of articles) as is evidenced by ( Bern cud Taylor,1995). The author suggest that, Theatrical picture of strategic leadership in act can be seen in companies going through course of restructuring and healing as during the industrial revolution in 1980's where every major industries were in trouble (Bern cud Taylor, 1995). Adding on what has been talked about by the above author, The theory of Strategic leadership has transformed since the unique superior position hypothesis urbanized by ( Hambrick and Mason,1984) to a learning i.e. just not the influential methods in which the central federation affects the managerial possibilities however it is the representation and social edifice of senior management (Hambrick & Pettigrew, 2001). In the course of this paper, This essay will investigate this debate in context of The need for strategic leadership in organisations today. Initially, discussion has been made on how paradigm blindness limit the scope of strategic leadership . Subsequently, it has been discussed how the absence of strategic leadership acts as a major barrier to effective strategy implementation. Finally, main focus would be Importance of strategic leadership and the role it plays in creating wealth in the organisations.
Blindsided, Contradicting Views :-
Strategic leadership is explained as a one's talent to predict, imagine, be flexible, purposefully thinking, and work along with others to start changes that will build a competitive & feasible opportunity for the institution (R. Duane Ireland and Michael A. Hitt, 2005 ) However there is an argument( Denis Fisch-bacher Smith, 2012) that organizational members/Strategic leaders do not consider that a failure can occur and they are unlikely to plan for it (Titanic Syndrome). Implying that leaders in organisations tend to have a dominant paradigm and according to the author exercise power in their own interest and not consider interests of others.
"A leader’s role is to raise people’s aspirations for what they can become and to release their energies so they will try to get there". - David R. Gergen
The concept of strategy has changed with the ever-changing environment or for that matter has evolved fast and uninterrupted changes in the aggressive setting has rendered conventional management methods outdated (Leibold, probst & Gibbert, 2002; Drucker 2003; Rigby, 2003; Planting, 2006; Morris, Kuratko & Covin, 2008). Organizations at present require strategic leadership to benefit from ambiguity by being supple, inventive,...