Answered: Explain in your own words the…

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

Related questions

Question

Explain in your own words the difference between leadership and management.

Do all leaders have to be managers, and do all managers have to be leaders? Explain your viewpoint in detail.

Expert Solution

Step 1

Management

Management is the process of Planning, Organizing, Staffing, Directing, and Controlling the processes and the people involved in an organization.
Managers perform these functions by planning for the future, creating goals and objectives, building strategies to achieve the goals, organizing the work, staffing employees to fill in the gaps between where the organization is and where it has to reach.
It also directs the employees towards accomplishing their goals and hence, the organizational goals.
They control and evaluate this entire process on a regular basis using statistical tools and management principles.