Management is termed as an individual member or a group of members that accept the responsibilities to run any organization. It helps to Organize, Control and Plan all the essential activities of an organization. Management does not solely do the work. It helps to motivate others to co-ordinate and work for achieving the objectives.
Management brings together all the Six M's i.e. Men and Women, Machinery, Material, Market, Methods and Money. Management utilizes these resources for achieving the common objectives of an organization such as maximum profits, high sales, wide business expansion, etc.
Management is often included as a factor of production along with Money, Materials and Machines. According to the management guru Peter Drucker (1909-2005), the basic task of management includes both Innovation and Marketing. Practice of modern management originates from the 16th century study of low-efficiency and failures of certain enterprises, conducted by the English statesman Sir Thomas More (1478-1535).
2. Define Leadership.
Leadership is termed as the ability of any company's management to make sound decisions and inspire competitors to perform well. Most of the effective leaders are able to set and achieve the challenging goals, are able to take swift and decisive actions even in hard situations, are also able to outperform their competition, and are suitable to take calculated risks and to persevere in the face of failure. Strong inter-personal skills with self-confidence, ability to manage with others and a willingness to embrace change also characterize good leaders.
Leaders are people who do the right thing; managers are people who do things right. – Professor Warren G. Bennis
Leadership is the art of getting someone else to do something you want done because he wants to do it. – Dwight D. Eisenhower
3. What are at least 5 differences between the two?
Managers have juniors or subordinates whereas Leaders have people who follow, managers always create circles of power while leaders create circles of influence.
Management consists of controlling a group of entities to accomplish a defined goal. Leadership defines the ability of an individual to influence, motivate, and enable towards organizational success.
Managers do things which are right whereas leaders do the right things, Managers maintain but leaders develop.
Managers have short-term perspective; leaders have long term perspective. Managers rely in control whereas leaders inspire trust.
Management is about telling, formatting and arranging whereas Leadership is all about nurturing and enhancing – Tom Peters.
4. There have been many great leaders in history. Name 5 of them and explain why you consider them a great leader.
Mahatma Gandhi: Being born as an ordinary boy Mohandas Karamchand Gandhi, has become the Father of the Nation. He led India against the rule of the Brirtishers and gave Freedom. He practiced the non-violence and ahimsa, believed only trust shall prevail. I consider him as one of the greatest leaders to have ever on the earth.
Mother Teresa: The icon for the word servant leadership. A true leader who left home at early18 to pursue a religious life, gave all her worldly possessions. She was a selfless servant leader who dedicated her whole life to making others' lives better.
Abraham Lincoln: Abraham Lincoln, who was the 16th President of USA, led the country through the US Civil War. He did his best and strived hard to keep the people of the country together or else America would have been into many small countries instead of one big country. He ending slavery in US. His oratory skills, conviction, humility made him one of the greatest leaders we have ever had.
Nelson Mandela: Nelson Mandela who was the first democratically elected President of South Africa. He was the face of the Anti- Apartheid movement, a great leader. Throughout his life, he relentlessly fought against the racial discrimination. He came out as a hero after prison and led the country into a free, equal rights future.
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