For the purpose and objective of greatly and significantly understanding the accounts of management and leadership simultaneously and the synergetic outcomes it has, we shall discuss the entire phenomenon of the relationship that exists between the two major heads of the most widely practiced discipline around the globe. Rooting from the prehistoric Roman Emperor to the Egyptian Dynasties to the modern-day political and social setting individuals live in to survive or be it be the World Wars I and II that human races and generations faced and fought at the time, management and leadership have proven key and undoubtedly important for all societies, domiciles, vicinities and individual households to survive accordingly.
The discipline continues to grow with every contribution, writing, script, research, theory or any other form of work that could be included in order to make greater understanding and immediate adoption without any hindrances or discrepancy that may occur in the process (Björkman, 853).
Explain the link between management & leadership
Management and Leadership have been significantly associated with one another since leading itself is one of the core components of effective management that is, planning, organizing, leading and controlling. The reason leading is a key component is because when employees, students, subordinates, coordinators or even family members living in a family setting or grouping are required and obliged to follow certain rules and principles set by an authoritative individual or body or organization that runs the entire setup. Thus for effective management, strong and effective leadership skills are necessary and inevitably crucial in order for the entire system of conduct to survive accordingly. Strategic management clearly implies the positioning and undertaking of organizational goals and tailoring them in order to improve the external reputation and portfolio in the overall market (Bonardi, 101).
The word 'strategy' is most commonly termed as a helping hand, a tool, a utensil that reduces any hindrances or causalities that may probably occur in the process of achieving the overall performance of the organization. Strategic management not only works for the importance of the organizational functioning; it aims to stimulate the performance of employees working in different time intervals, helping to monitor and scrutinize their overall capability and assess their willingness to work in a mainframe context. One key and important situation that strategic management undertakes is:
The company's mission (which is the company's reason of existence);
Vision (future goals of the organization);
The innate objectives (this could be sort department wise or the total target set by the organization); and
The policies and regulations framed by the company, which are coined in the shape of projects and program in order to achieve the major goals set by the organization.
One key and a popular tool that has been undertaken with reference to strategic management are the 'balance scorecards' that has significant reputation in terms of highlighted key strengths and weaknesses that improve and hinder the overall performance of the organization. Recent studies and leading management theorists have advocated that strategy needs ...