A REVIEW ON THE ROLE OF STRATEGIC LEADERSHIP IN CORPORATE STRATEGY DEVELOPMENT

Abstract

In addition to examining the difficulties firms have when successfully incorporating strategic leadership throughout their strategy development procedures, this study covers the crucial role that strategic leadership plays in forming corporate strategies. The study uses semi-structured interviews with CEOs, executives, and senior managers from a range of businesses in order to gather data using a qualitative methodology. By highlighting its influence on decision-making, the distribution of resources, and strategy implementation, thematic analysis sheds light on the complex and varied nature of strategic leadership. The results highlight the need for strategic leaders to be emotionally intelligent, analytical thinkers, flexible, and willing to take measured risks. In addition, the paper discusses the mutually reinforcing nature of corporate strategy formulation and strategic leadership, illuminating the competencies and attributes necessary for successful leadership in the framework of strategy formulation. Although strategic leadership is widely recognized as important, businesses frequently find it difficult to include it into the process of formulating their strategies, which results in less-than-ideal strategic decisions. The study adds to the conceptual framework that makes sense of the complex interactions between company strategy and strategic leadership. The study emphasizes the need of having a clear vision, making well-informed decisions, and fostering an innovative and continuous improvement culture as strategic leaders navigate difficult settings. The research findings offer significant perspectives for scholars and professionals that aim to elevate strategic leadership methodologies and elevate overall strategic results.