Submitted to: Steven Clarke
Submitted by: Shivika Gupta
Student ID: J5293963
Assignment: Discussion topic Week 1.
Leadership and Management:
“Leadership compliments and is a part of management.”
Leadership in terms of management means: The activity of leading a group of people or an organization to a common goal without the consideration of personal motives. Leadership does not only involve directing a group of people or the organization but also understanding the needs and wants of the people along with the changes that occur in day-to-day business environment.
A good leader will be able to set achievable goals, make sound decisions and motivate others to perform well. Effective leaders also try to surpass difficult situations and take calculated risk. Communication skills, patience, good listener, motivator, be decisive are some of the traits that an efficient leader should corner the market with. (Investopedia)
Management in the business sphere means: The coordination between the organization and the activities performed to achieve the desired goals established by the organization for its profit motive. Management often relates to the factors of production such as machinery, materials used in the process of production and cash flow. The practice of modern management states that many companies have shown low efficiency and failure in their period of operations. Management does not only include leadership but it also includes vitals such as creating corporate policies, organizing, planning, decision-making, controlling and directing. (business dictionary)
The management consists of the directors and managers who are responsible towards the act of the company and also make the decisions for the company. The size of the management might vary form company to company.
“To add value to others, one must first value others.”- John Maxwell
Leadership Vs. Management:
Management is an art of getting things done from people by giving them incentives to do the work they are assigned. A manager in an organization will direct people and use will use its authoritative and *transactional style of working to get the work done by his subordinates *(offering incentives to people for the work they do, like salary)
Where as a leader on the other hand will get work done from people but through a transformational style of working. A leader will make the people believe in himself and with his charisma attract people to follow him and become better people.
A manager has time constraints and a budget to get the work done form its subordinates and focuses more on the organization goals, while considering a leader is always people oriented. For a leader people are its priority. A leader will motivate its team rather than giving extrinsic incentives. Leadership may be a long-term bearing but management may be short term.