Question

How do strategic leaders manage their firm’s resource portfolio effectively to exploit its core competencies and leverage its human capital and social capital to achieve a competitive advantage?

Answer 1

Strategic leaders manage the firm's portfolio of resources by organizing them into capabilities, structuring the firm to use the capabilities, and developing and implementing a strategy to leverage those resources to achieve a competitive advantage.

What is strategic leadership and how do you become a strategic leader?

Strategic leadership skills and characteristics

Key traits of an effective strategic leader include loyalty to the organization's vision, judicious use of power, transparency, effective communication, problem-solving, readiness to delegate, passion for their job, compassion, and empathy for others and self-awareness.

Why is strategic planning considered a core responsibility of an effective leader?

“Strategic planning” means planning for long-term success by continually leveraging new sources of information.

A strategy enables leaders to anticipate changes, opportunities, and challenges in the business environment that will make an impact on the future of the organization and its members.

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