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Wednesday, 16 May 2012

Management Vs Leaderhsip

According to 'The Wall Street Journal Guide to Management', Management and Leadership are not same thing. But they are linked, and complimentary.

  • The role of a leader is so crucial to continual success. Leadership deals with direction while management deals with speed.

  • Leadership deals with vision - with keeping the mission in sight and with effectiveness and results. Management deals with establishing strcuture and systems to get those results.

  • Leadership focus on the top line. Management focuses on the bottom line. Leadership derives its power from values and purposes. Management organizes resources to serve selected objectives to produce the bottom line.

  • Management and Leadership are not mutually exclusive. Leadership is the highest component of management.

  • The basic role of the leader is to foster mutual respect and build a complementary team where each strength is made productive and each weakness made irrelevant. The essential role of a manager is to use leverage to multiply the work and role of the producer.

  • The manager focuses on systems and structure whereas the leader focuses on people.

  • The manager's main focus is on 'Administration & Maintenance' while leader's focus is on 'Creativity & Development'.

  • The functions of Manager are - Planning, Establishing Agendas, Setting Timetables, Allocating Resources, Establishing Rules & Procedures & Taking Corrective Actions. The functions of a Leader are - Setting Strategies, Establishing Direction, Building Teams and Coalitions, Empowering Subordinates & Satisfying unmet needs of the organisation.