Sometimes the terms leader and manager are used interchangeably, but there are some basic differences between leaders and managers.
Leaders:
• develop vision and strategy
• long-term goals
• facilitate change
• inspire and empower others
• set a direction
• align others
Managers:
• budget
• planning
• organize
• provide structure
• seek out resources
• short-term goals
Where do you fit in? Are you more of a manager or more of a leader? Can you be an effective leader without being a manager? How good a manager can you be without leadership abilities?
The truth is that ideally the two are intertwined. A balance between management and leadership is crucial. Management and leadership complement each other offering the most effective way to excel in the business world. Companies which are over-managed and under-led often lack direction and seem unable to adapt to the change necessary for survival. Similarly, an effective leader can’t succeed without being balanced by a management side. Setting direction and developing a vision is irrelevant without the ability to survive the present. That requires management with its budgeting, short-term goals, organizing, and finding the necessary resources.
As you assess your own skills and management style, consider how your management and leadership skills sum up and how that translates into your business.
