In: Economics
Explain the relationship between the concept of Leadership and the concept of Management?
Leadership and management are words that are sometimes considered to be interchangeable. It is important to recognize that leadership is an integral part of successful governance. As a core component of management, exceptional leadership behavior emphasizes the development of an atmosphere in which each and every employee learns and excels. Leadership is described as the ability to control and push the actions of the community towards the achievement of the objectives. Such power may derive from institutional sources, such as that given by the assumption of a managerial role within an organization.
The manager must have the attributes of a leader, i.e. he must have the qualities of leadership. Leaders create and implement strategies that build and sustain a competitive advantage. Organizations require robust leadership and robust management to ensure optimum operational performance.
Management, by its very nature, is difficult, accurate, thorough and requires precise and typically coordinated acts. Leadership, on the other hand , requires a much wider meaning and entails collaboration, goal-setting, vision-sharing, motivation and an intrinsic lack of criticality at all moment. Good governance includes aspects of good governance and good governance includes aspects of good governance. Any leader who is devoid of management skills and a manager who lacks any leadership ability would fail. In my point of view, management is a science that can be taught. Leadership is, however, an art.
While some of the skills required to be a great leader can be gained over time, much of what makes good leaders great is inborn or, at the very least, developed much earlier in life A successful organization can not survive without both strong leadership and great leadership. Over time, an company would need to increase its team of managers to keep up with the increasing number of deliverables. Nonetheless, the leadership team will develop at a much slower pace, or maybe not at all. Too many politicians, like too many cooks, are going to make things very bad.