In: Economics
Please share the difference between Leadership and Management. Also, the three primary styles of leadership are autocratic, participative, and laissez-faire. Please share which style, if any, you feel is the most important style and “why.”
Difference between leadership and management
1. Leadership is a virtue of leading people through encouraging them. Management is a process of managing the activities of the organisation.
2. Leadership requires trust of followers on his leader. Management needs control of manager over its subordinates.
3. Leadership is a skill of influencing others. Management is the quality of ruling.
4. Leadership demands foresightedness of leader. Management has a short range vision.
5. In leadership, principles and guidelines are established. In management, policies and procedures are implemented.
6. Leadership is Proactive. Management is reactive in nature.
7. Leadership brings change. Management brings stability.
Autocratic- Autocratic describes a way of leadership, but not in a nice way. An autocratic leader is someone with the behavior of a dictator. They use fear and control to gain total power over their people.
Participative- Participative leadership also known as Democratic Leadership Style is a method of leadership that involves all team members in terms of identifying important goals as well as developing strategies and procedures to achieve the goals.
Laissez-faire- The Laissez-faire is the leadership style wherein the leader gives full freedom to his subordinates to act on their own.
Participative or democratic leadership is one of the most important leadership styles because it allows lower-level employees to exercise authority they will need to use wisely in future positions they might hold. It also resembles how decisions can be made in company board meetings. Although autocratic and laissez-faire leadership is also important-
Autocratic leadership is important for urgent situations where the results must be accomplished quickly and situations where the leader has far more knowledge than the team.
Laissez-faire is important for highly motivated, highly skilled or expert employees.