leadership and management

“In the new economy, where value comes increasingly from the knowledge of people, and there workers are no longer undifferentiated cogs in an industrial machine. Management and leadership are not easily separated” – Alan Murray – evaluate this statement with reference to recent academic works and compare to old leadership theories, exploring the validy of this statement

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Description

It is no secret that every business depends on the quality of its leadership and management for its success. Although many regard leadership and management to be the same, the truth is they aren’t, they are only complimentary to each other and the performance of one heavily depends on the performance of the other. In the business environment, it is the duty of the manager to arrange, coordinate and plan activities within the business, the leader is tasked with inspiring and motivating the various characters involved in the business. Traditional business theories and economy recognized the two positions as being different. However, due to the evolution of the economy and developments in the business context, today’s new economy is unable to separate management and leadership, it is viewed as one in the same. Nowadays, in many businesses it is the manager’s job to not only assign different tasks to individuals, but also to define their role and contribution to the business, develop their talents and nurture their skills. According to the late Peter Drucker, who was a management guru; the development of the ‘knowledge worker’ has created differences in management. One does not simply manage people, the goal is leading the people, the goal is to make productive and efficient, the strengths and knowledge of each contributing individual in order for overall success.