The distinction between leadership and management within any workplace has been a point of contention and debates for quite some time now. Any individual who has had to take up the position of authority has to face the moral and professional dilemma between these two roles. However, the fact that remains is that no matter how often business leaders come across playing managerial role and tasks, management and leadership are actually two different yet complementary courses of action. Getting promoted to a role where you are the one managing the people does not make you a leader by default.
The thin line that exists between the two pertains mostly to the nature and execution of the work. The following are some of the finer distinctions that set apart leadership and management.
Managers control the risks, leaders believe in taking risks
Risks and threats are a part and parcel of any business, and this is one of the main areas where you can see the distinct difference between leaders and managers. Leaders are forever willing to go for new opportunities and challenges even if there are high risks included in it. They believe in the popular adage that failure is the first step on the path of success. The work of a manager pertains to minimizing the risks in order to control the issues rather than creating or embracing more of it. It is undoubtedly best for any business when it can find people who are ready to hit the middle ground in this matter. Calculated risk is what the modern businesses need instead of avoiding all possible threats and hazards on the path to progress.
Managers think short-term, leaders believe in perceiving long term
Managers work on short-term goalsand they seek more regular accolades and acknowledgment. Leaders stay motivated without the consideration of receiving regular rewards and their intentionality leads them to move on the path with their eyes set on the long-term achievements. To understand this factor from the point of view of the business administration, consider the fact that any company has three or five years of long-term planning,which has a sequence of short-term plans within it. It is necessary to define the steps that lead to the big picture in order to accomplish the tasks at hand. For instance, if the long-term goal is to saturate the market with a particular product and the company presently has only 20 percent penetration in the market, the annual growth would be to increment the market penetration gradually.
Managers build processes and systems, leaders build relationships
Managers put their focus on the structures essential to achieve goals. They focus on the analytics andensure that systems are in place to achieve the desired outcomes. They work withother professionals in the team and help in defining their objectives and goals. Leaders put more attention on the people and that includes all the stakeholders who are needed to influence in order to make the visions into a reality. Loyalty and trust are built up when the results are consistently delivered through effective systems and processes and with dedicated professionals working on those by the hour.
Management is about creating order in an environment and controlling tasks, while leadership is more about motivating and influencing. Without a structured management system in place, any business, regardless of its size or sector, snowballs into chaos. Similarly, without a successful leader showing the way, the employees will never be motivated to do an iota of work more than they are asked for, resulting in disorder and delays.
Businesses are subject toups and downs, and in such a scenario, management that lacks leadership skills leads to a fruitless endeavor due to the failure in the perception of the big picture. On the other hand, leadership without efficient management cannot sustain through the ups and downs and make improvements right on time.
We, at the Indore Institute of Management and Research, one of the top b schools in Madhya Pradesh, India, with our market-centric curriculum aim to instill students with the processes and practices that lead to the development of successful managers who are the leaders in their own arenas of work. We understand that one of the foremost requirements for the managers of today is for them to lead from the front. The recruiters at present look for people who are both administrators and leaders with the flexibility to take up any one of those roles as the time comes. Our management program focuses on imparting each student with enough academic know-how and soft skills that can aid them in taking up any position as the situation demands. We can proudly say that our students are the future leaders and business administrators of tomorrow with a clear vision and skills to set achievable goals. Through our expert mentoring and real-world based learning approach, we, at IIMR,have been consistently creating professionals who are pioneers in their fields of work.