Effect of Strategic Leadership on Strategy Implementation in Insurance Firms in Des Moines, USA
DOI:
https://doi.org/10.53819/81018102t5156Abstract
Effective and efficient strategy implementation has been identified as a primary factor driven by the strategic leadership. The main goal of any strategic manager is to provide a firm's exceptional performance achieved via excellent planning, successful strategy execution and getting a competitive edge over rivals. Strategy implementation is a crucial component of the strategic management process since it ensures that the organization's strategic goals, purpose, and vision are attained as effectively as anticipated. The ability to successfully implement a strategy will depend greatly on the leadership abilities. It was found that firms often have trouble implementing their goals, with leadership being one of the major challenges. The study used the descriptive research design. The target population was 90 insurance firms in Des Moines, USA. The research did sampling of 40 participants that were chosen from the target population of 90 firms in Des Moines, USA. Questionnaires were utilized to gather the data. In conclusion, strategic leadership fosters a culture of accountability, encourages innovation and risk-taking, and sets the tone for the organization's overall performance. Hence, organizations that invest in developing and promoting strategic leadership are more likely to succeed in implementing their strategies and achieving their goals. It is recommended that the insurance firm’s needs managers and professionals who can develop better strategies to support the growth of the insurance business. Regarding strategic leadership and strategy implementation, the regulators and policymakers in this sector need to make better-informed decisions. Organizations should prioritize investing in developing and promoting strategic leaders at all levels of the organization. This can be achieved through training, coaching, mentoring, and succession planning. Strategic leaders should monitor the progress of strategy implementation and adjust the strategy as needed based on feedback and changing circumstances.
Keywords: Strategic Leadership, Strategic Implementation, Insurance Firms, USA
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