Provide an overview of economic systems. Discuss their most essential features. Also, reflect on their advantages and disadvantages.
The success of every organization that exists these days relies upon practicality of its managers and creativity of its leaders. Gaining knowledge about the difference between âManagementâ and âLeadershipâ will help to gain better understanding about the difference between a manager and a leader. The differences between management and leadership are, perhaps, one of the significant and impactful relations in an organization. Management can be defined as âa distinct process consisting of planning, organizing, actuating and controlling; utilizing in each both science and art, and followed in order to accomplish pre-determined objectives.”(George R Terry, 1877-1955), by considering the definition of management, a manager can be defined as âthe person responsible for planning and directing the work of a group of individuals, monitoring their work, and taking corrective action when necessaryâ (F. John Reh, 1998) while leadership is âa development of a clear and complete system of expectations in order to identify evoke and use the strengths of all resources in the organization the most important of which is people.â (Batten, J.D. âTough-minded Leadershipâ,1989 p. 35),hence taking the definition into consideration a leader can be defined as âa man who can persuade people to do what they do not want to do, or do what they are too lazy to do, and like it.â(Harry S. Truman, 1884-1972). Leadership transforms anything possible into reality, it can be part of management but not the whole of it. Differences among leaders and managers is mainly based on the conceptions they hold, since leaders and managers are both complementary, an organization may need both in order to succeed and achieve the set objectives or goals. The following essay will differentiate between leaders and managers by defining, comparing and contrasting different qualities, roles and different styles that leaders and managers adopt such as the motivation theories and different leadership styles, throughout their leadership and management processes, this will help to know if managers and leaders are actually different or just similar :- – Managers ensure that the given tasks are finished in a timely manner and all the set objectives are met, managers may need to provide additional training to employees in order to guide them into completing tasks whilst leaders unite the team to believe in a common vision in order to successfully achieve the set task or target. By leaders and mangers working together there is high possibility of gaining desired results (Brown, 2010). A leader is the one who guides people and helps people to trust in a cause. An organization is nothing without its managers while on the other hand, leaders mostly come into the role when a change is introduced, during this times people have to face the change rather than being frightened (Allman, 2009). -Their attitude toward their goals, âAn attitude can be d>GET ANSWER