Leadership, Innovation and Change Essay Example | Topics and Well Written Essays - 2500 words

Leadership, Innovation and Change - Essay Example The paper tells that the roles played by top leaders are fundamental in determining the market position of a company’s product. Considering the fact that top leaders are involved in the development of both corporate and business strategies, their ability to influence market performance cannot be ignored. Whereas there is evidence that leaders and their leadership style can have an impact on the market performance of the company, it is not clear the level of impact involved. Researchers have sought to analyze whether the influence of leaders is an extremely significant contribution to the market performance of a company or whether the critical importance of other factors supersedes the role of leaders. The top leadership in any organization indulges in active planning and development of the leadership strategy, corporate strategy, and the business strategy. The development of these strategies depends on the leaders understanding of the potential strengths and the weaknesses of the company as well as a critical analysis of the possible threats and opportunities. The role of strategic planning is basically to ensure that a company has in place initiatives that promote and utilize its strengths and opportunities while taking measures of handling threats and minimizing the weaknesses. Such strategic planning is impossible if top leaders do not understand both the internal and external environment of the organization. Leaders face the compulsion of ensuring that strategic planning brings together different departments in an appropriate response to both external and internal factors. Moreover, leaders need to be informed on different issues regarding the industry they operate in. They need to understand the ensuing trends and be able to predict what the future holds.