Managing and leading are different endeavors, but go hand-in-hand.
Leaders inspire others to follow them while managers maintain control. The term “manager” refers to a person in charge of others. Leaders are not necessarily in charge – they take charge. The definitions of the terms are different, yet the two go hand-in-hand. A leader without management skills is as ineffective as a manager who cannot lead.
A leader innovates, develops and inspires confidence. A manager, on the other hand, administers and maintains. Managers focus on systems and structure, have a short-range view and ask how and when. Leaders have a long-range perspective and ask what and why. Leaders challenge, originate and do the right thing. A manager accepts the status quo, is a classic good soldier and is expected to do things right.
For an act of leadership to be effective, it must demonstrate effective management capacity.
-Effective Management is the outcome of effective leadership. While effective leadership is the height attained or reward received as a result of effective management. For instance, any prosperous organization must have had leaders who are efficient in management. This can be measured in the level at which the goals of such organization are attained.
- Both effective leadership and management can be applied as adjectives used in qualifying the level of achievement of such office holders.
-As individuals, an effective leader is one who has demonstrated effective management capacity. Effective manager on the other hand is an individual who has good leadership skill. They are intertwined.
As an entrepreneur, you must posses both leadership and managerial skills.
An entrepreneurs must:
a. Have vision for his business
b. Demonstrable high level of commitment in his business.
d. Be willing to commit their resources including time and energy to their business.
e. Make sacrifices to ensure the actualization of the set goals.
The abilities above and more can only be achieved through effective leadership and management. Once there is effective leadership and management;
- Targets are realized.
- Goals are attained with more evolving business opportunities.
- Harmonization of vision across the team members.
Moreover, effective management is obvious when leaders are able to institute others who in turn endeavor to realize the overall goals of the organization with little or no supervision and coercion.