In the chaotic, volatile and complex business environment at the present time, an organization must be able to learn from and adapt to changes in order to enhance competitive advantage. As a result, leaders who make strategic decisions must adopt a new mind-set as new realities emerge and encourage strategic flexibility across and within their organizations (Hitt, Ireland, & Hoskisson, 2005). There are two significant factors to be strategically flexible on a continuing basis including leaders must develop an organization vision with a corresponding strategic plan and have the ability to manage changes (Zaccaro & Banks, 2004). Vision and leadership are the requisite for organization’s success and survival (Fechter & Horowitz, 1991; Nanus 1992).
Chandprapalert, Adisak and Suwannapirom, Suda
"Development of Future Leaders: A case study on the Bank of Thailand (BOT),"
Academic Leadership: The Online Journal: Vol. 6
, Article 9.
Available at: https://scholars.fhsu.edu/alj/vol6/iss1/9