In the volatile yet fast-paced world that we find ourselves in today, it has become imperative for organisations to remain a step ahead to achieve long-term growth and sustainability. The COVID-19 pandemic has created an economic atmosphere of uncertainty and ambiguity across markets around the globe. However, coinciding with this is industry 4.0 and the technological advancement it has brought forth with it, which has allowed organisations to aim beyond the horizon. Phenomena such as globalisation, urbanisation, digitalisation, and rapid demographic change are also on the rise. In such a world, where change is the only constant, strategy is essential for leaders to usher their organisations to a new future, mitigate potential risks, and open up unexplored avenues for growth. Implementing strategy today requires new leadership styles and practices.
Research suggests that 79% of corporate employees quit their jobs after experiencing a lack of appreciation and negative management and believe that today’s business challenges require a new set of leadership skills. In addition to this, the LinkedIn Workplace Learning Report 2021 notes that 53% of learning and development programs around the world claim management and leadership as their top priority. This depicts the efforts already being put into developing new-age leaders, underscoring the importance of strategic leadership.
Strategy as the X-Factor
Having a sound strategy can help set clear goals and establish a proper direction for an organisation, providing a solid plan to move forward. Strategic planning is about making essential trade-offs and allocating resources following set priorities. Effective strategies enable organisations to define accountabilities for leaders, managers, and employees, which helps streamline organisational activity, prepare for impending crises, and foster commitment at all levels.
Under unprecedented circumstances, organisations are forced to make certain difficult choices. An effective strategy provides a point of reference for decision-making aligned with an organisation’s long-term vision. This eliminates subjectivity and personal beliefs in the decision-making process, making it smoother, objective and more efficient. Following a robust strategy enables effective communication and collaboration within the organisation, eliminating information asymmetry and fostering a sense of synchronisation amongst employees. The figure above provides a concise overview of the various advantages organisations enjoy from implementing a robust strategy.
In India, companies like Zerodha, Meesho, Ola, Nykaa, Razorpay, and FirstCry defied the pandemic by efficiently deploying effective growth strategies to become unicorns at a time when most organisations struggled to stay afloat. Looking at the phenomenal growth of these companies, it is apparent that the X-factor strategy for these companies set them apart from all their competitors, allowing them to not only thrive but grow exponentially even under volatile market conditions.
Upskilling with IIM Lucknow’s Strategy for Leaders ProgrammeIn the post-pandemic world, the skillsets of leaders have not corresponded to the increasing necessity for strategic thinking and management. Most traditionally trained leaders do not possess the essential data proficiency, technical abilities, managerial competencies, and advanced skills that strategic planning demands. In fact, a mere 11% of human resource leaders believe that they have access to a strong pool of professionals who can take over leadership roles. Such a paradigm portrays the leadership skills vacuum that exists in today’s world. IIM Lucknow aims to address this problem through their Advanced Programme in Strategy for Leaders (APSL). The IIM L Strategy for Leaders Programme is meticulously designed to equip leaders with the knowledge of new-age competencies, proven practices, and modern tools to constructively utilise strategy to help grow their organisations in the future.
IIM Lucknow’s Strategy for Leaders course features a cutting-edge curriculum covering a diverse range of aspects concerning strategy, including market evaluation, resource and capability assessment, dynamics of competition and rivalry, mergers and acquisitions, corporate intrapreneurship, international strategy, technology and innovation, strategic communication, and change management. It follows an immersive and interactive pedagogical approach to enable leaders to implement strategy fruitfully. Gaining comprehensive insights into the formulation and implementation of strategy as well as the complex process along the way lets aspirants transform themselves into visionary strategic leaders.
Being trained in strategy opens the door to a multitude of career possibilities. Leaders equipped with a comprehensive knowledge of strategy enjoy guaranteed job growth and lucrative salary prospects. Besides, organisations around the world are always on the lookout for talent in strategic planning and management. Armed with advanced strategic insights, aspiring leaders can rise to the topmost positions within their organisations and be in charge of their business trajectory. Hence, investing in a programme like APSL provides long-term returns for management professionals. The certification and alumni status from an IIM can open doors to global career opportunities, allowing professionals to become industry leaders.
To know more: https://timestsw.com/course/iim-lucknow-advanced-programme-in-strategy-for-leaders/
Cloud computing is used by companies, organisations, and businesses to back up their data, emails, online applications, and business intelligence.These services can be public or private; public services can normally be purchased on the internet by anybody; private services, on the other hand, are supplied to a limited number of people with specific rights and access settings.
There is also a third option: hybrid services, which include aspects of both public and private services.How Does it Work?Cloud computing works by allowing client devices to access data from faraway servers, computers, and databases via the internet.
Through an internet connection, the front-end (browser, cloud software, network, and access to the client's device) is linked to the back-end (databases, computers, and servers).
Elasticity It allows businesses to scale up and down as needed, depending on the circumstances.
AgilityIt allows you quick access to a wide selection of technologies that assist you in building, innovating, and achieving whatever you need.
Servers, virtual machines (VMs), storage, operating systems, and networks are all provided by IaaS providers like AWS.
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