The Responsibilities Of Top Management And Leaders

Course Work 1
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Question 1
Laying down of strategic plans forms part of key processes which an organization ought to adhere to, for the efficiency of operations. In relation to corporate governance and strategic planning, the top leadership ought to ensure that the laid down plan has both medium and long term set of timelines during or within which new technologies must be implemented in line with the various market requirements and set down requirements CITATION Placeholder1 \l 1033 (Adair, 2011). The top leaders have the responsibility of oversight of the plan execution. The oversight involves the activities which will ensure that a set plan is done as stipulated out, without leaving out any detail, for instance, a plan to adopt a new working plan or formula.
Elsewhere, the top leadership has the role of making systematic checkups to ascertain the progress of the activities which are being done, in order to ensure that results are achieved, through averting any malpractice.
Strategic management is a critical component for a firm to get used to and to retain performance in any given dynamic environment. If used properly strategic management and its decisions, as well as a set of actions, can greatly improve the results of a firm in the long run CITATION Vic18 \l 1033 (Wang, 2018). Strategic management is particularly important for situations whereby a firm has grown its size and as a result, it has a more complex structure and its management layers have become many which need a more advanced type of leadership. Additionally, a substantial change in the environment of operation of an organization may also prompt the utter need for strategic management.
Strategic management assists an organization to remain competitive in an environment which is otherwise volatile.
Question 2
The board of directors is another critical component of a corporation. The duties and responsibilities of the board of directors are very important for the continued existence of a corporation. A good board of management ought to have a well-drawn charter which stipulates it functions, as well as those which will be delegated to other people.
Roles and responsibilities of the board of directors include the following: making of strategic decisions for instance where to invest in, and what is to be purchased, sharing of the dividends among other decisions CITATION Ala18 \l 1033 (Alam, 2018). The board also oversights the activities of the management in order to determine which ones are being done improperly so as to improve on them, and the ones done properly so as to sustain them. The board can also extend or terminate the contract of some top employees, for instance, the chief executive officer.
A good example (which is unfortunate) whereb...