Step 1: Definition of Management
Management refers to the process of planning, organizing, directing, and controlling resources to achieve specific organizational goals. It involves ensuring that the organization operates efficiently and effectively.
Step 2: Definition of Leadership
Leadership is the ability to influence, motivate, and guide individuals or teams towards achieving common goals. Leaders focus on inspiring and motivating employees, fostering a vision for the future, and driving change.
Step 3: Key Differences
Focus: Management focuses on organizational tasks and processes, while leadership focuses on people and relationships.
Authority: Managers derive authority from their position in the organizational hierarchy, whereas leaders derive authority from their ability to inspire and influence others.
Decision-Making: Managers are often involved in making decisions based on established processes and data, while leaders make decisions based on vision and values.
Approach: Management tends to be more transactional, focusing on getting things done, while leadership is transformational, aiming to inspire and create change.
Step 4: Conclusion
While both management and leadership are essential for the success of an organization, they differ in their focus, approach, and impact on individuals and teams.
Final Answer:
\[
\boxed{\text{Management focuses on tasks and efficiency, while leadership focuses on vision and inspiring others.}}
\]