According to Bradley, leadership is what one would do to lead a company into the future and management is what one would do to focus on the company from the inside out (Bradley, 2019). To make a company successful, one needs to have both of leadership and management strategic abilities. There has to be a good mix of both to make the company able to compete with it’s competitors. One has to have the foresight to lead and at the same time has to be able to make sure everything is working within the company.
The impact on leadership strategies on individuals, communities, competition, market, society and culture is a diverse and meaningful. If the company is doing well, then the individual employees are working and have a steady income with the possibility of advancement within the company. This has a trickle-down effect in that if the employees are doing well within the community, the community prospers with those employees buying homes, groceries, using the local utilities, paying taxes, etc. If there wasn’t these people, then the community would not be as prosperous. If a company is prospering, then that makes the competition have to work harder to keep up with the company that is prospering. This means the competition has to work and invest money that they may or may not have to make them relevant within their field. If a company is being successful, then the market will begin to come to the company that is being more successful than the competition. The market will want to have a great product from a great company. This will lead to the society that will be dependent on the great products that the company produces and will want to have the latest and greatest that the company has to offer to the society. The trickle down effect will lead to a culture change in which the company will be a reason for making such a great product.
The differences between a leadership strategy and a management strategy might be best described as what the leaders and managers do within their companies. According to Avantika Monnappa, managers do are carrying out the four major functions within a company. Those functions are planning, leading, organizing and controlling (Monnappa, 2018). While leaders, according to Monnappa, doesn’t have to have a management role. According to Abraham Zaleznik, a leadership requires using power to influence the thoughts and actions of others while management emphasizes quality and control (Zaleznik, 2004). Understanding the differences between the two types of strategist is key in being a great leader. The traits between the two are different. According to go2HR, the traits of a leader are honesty and integrity, vision, inspiration, ability to challenge, and great communication skills. The traits of a manager are being able to execute a vision, ability to direct, process management and people focused (Unknown, Understanding the Differences: Management vs Leadership, n.d.).
Some practical example of leadership and management strategies would be for leadership would be a person who is looking into the future and doing all that he/she can to lead a company into the future. The example would be a person who knows what the company would need to be profitable in the future and working toward that goal. A management strategist would concentrate on what is going on inside the company and deciding who to get the best out of what the company already has.
Bradley, J. (2019). Leadership vs
Management. Retrieved from Chron: https://smallbusiness.chron.com/leadership-vs-management-strategic-development-60317.html
Monnappa, A. (2018, October 3). What’s the Difference Between Leadership and Management. Retrieved from Simplilearn: https://www.simplilearn.com/leadership-vs-management-difference-article
Unknown. (n.d.). Understanding the Differences: Management vs Leadership. Retrieved from go2HR: https://www.go2hr.ca/management-leadership/understanding-the-differences-leadership-vs-management
Zaleznik, A. (January). Managers and Leaders: Are They Different? Retrieved from Harvard Business Review: https://hbr.org/2004/01/managers-and-leaders-are-they-different