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By Narendra Laljani (auth.)
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Strategy-making is therefore a potential “dynamic capability” (Teece et al, 1997) through which managers pool their various business, functional, and personal expertise to make the choices that shape the major strategic moves of the firm. While the previous points of view have tended to examine capability at the level of the organization, some researchers have bridged the organizational and individual levels. For instance, Castanias and Helfat (1991) suggest that superior managerial skills are rare and difficult to imitate resources which are internal to the firm, and which may be key to the firm’s acquisition and maintenance of sustainable competitive advantage.
As pattern recognizer the manager has to be able to sense when to exploit established strategies, and when to encourage new strains to displace the old. Jonas et al (1990: 40) found that effective executives must “simultaneously embody the status quo and question it”. As the custodian Strategic Leader Capability: A Conceptual Framework 37 of the firm’s history the chief executive officer must act as a force for stability. However, the leader must also challenge norms, ask framebreaking questions, and play the maverick to stimulate innovation.
The Strategic Leader 21 seen competitive actions, opportunities, or threats. Agility and flexibility is required to leverage these emergent strategies. The resulting strategic outcomes may therefore be very different from the original strategic intent. This creates a strategic learning opportunity for both the content and process of strategy, which in turn impacts the strategic intent. The strategic process is therefore a dynamic one, which must embrace deliberate strategies, strategies in action, emergent strategies, and strategic learning.